The old adage “if it’s not broke, don’t fix it” might apply to various household appliances, but it’s not necessarily the best way to approach business decisions. Without innovation, creativity, and new ideas, companies in all types of industries will begin to falter. Today’s modern consumers expect businesses to stay up-to-date on all the latest trends and technologies, so continuing to do things the “old-school” way isn’t exactly a winning marketing strategy.
This should go without saying, but even the oldest and most traditional business owners still need to market their brand where the most potential consumers are. Dead-end marketing efforts, like cold-calling, direct mailing, and newspaper advertising, are doing nothing but wasting your money (unless your target audience is 65+). To stay relevant in the digital age, updating your marketing strategy isn’t just recommended; it’s essential.
The Dangers of Complacency
Professors Charles A. O’Reilly of Stanford University and Michael L. Tushman of Harvard Business School have spent over a decade studying the business practices of countless companies. During their research, they noticed that older, well-established businesses are often prone to the fatal flaw of complacency. These traditional companies that are sorely lacking in new ideas become especially vulnerable when competitive start-ups enter their market.
Start-ups grab consumers’ attention by being unique and approaching common problems in creative ways. Instead of being worried about potential start-ups infringing upon your area of expertise, start investing in new ideas and innovation now to launch your company far ahead of your competitors.
Out with the Old, In with the New
Before you start to stress out about being innovative, remember that new ideas don’t have to be life-changing or radical to have a positive effect. One article from CIO thoughtfully states that, “Sometimes it’s those quiet achievers who can make just as big an impact without having to be ostentatious about it.”
If your company seems to be stuck in 2009 rather than 2019, one of the best ways you can attract new customers is by updating (or starting) your business blog. Content marketing and social selling can transform a start-up into a thriving business, and it can help your well-established company stay relevant for years to come.
If you want to try out these new marketing strategies but you don’t have enough time to write content every week, that’s where we can help. Simply tell our writing team a bit about your topic ideas and share any relevant links to receive multiple high-quality articles for a flat monthly rate.