Post a new topic
    3 Replies Latest reply on Apr 20, 2009 9:40 PM by timandren

    Adapt or perish

    timandren Newbie
      Mark Earls' most recent blog post Digital Britain Afterthoughts gives some clear insight about where the disconnect is occurring for businesses in the power shift from traditional to social web media.

      Earls' field of study is marketing and the crowd. He understands marketing trends and how mass behavior effects business. This quote (as I interpret it) describes how big business is desperately trying to stay connected and has the blinders on so to speak.

      "...many of the people and companies represented yesterday are paid to keep the current model going and just don't want to see the digital technology as anything but a means to turbo-charge the current model."
      The giants of business and media have high-output, intricate systems in place today that would be impossible to stop and restructure. Many of their business models were designed to snap into the architecture of traditional media and marketing and are struggling due to a lack of dexterity that's needed for new media.

      These companies would need to completely overhaul their framework in order to make business run efficiently and effectively. It would be like stopping a 747's jet engines mid-flight to upgrade or install new ones. Their only choice is to keep the machine going for as long as it can. 'Run it into the ground', they're saying.

      Small businesses, however, don't have the same problems. They are nimble because of their size, much more adaptable and often have more of an open architecture to begin with. Small business owners are willing and able to do just about anything to make it work.

      Not being established can be a good thing. In many cases, businesses that aren't forced to do go the 'round plug-square hole' route are the younger businesses that developed their model with the influences of new media in mind. Others are just small enough to turn on a dime.

      What ways does your business size or flexibility help you in today's business climate?
        • Re: Adapt or perish
          LUCKIEST Guide
          Adapt or perish, Good post

          A small business is a business that is independently owned and operated, with a small number of employees
          and relatively low volume of sales. The legal definition of "small"
          often varies by country and industry, but is generally under 100
          employees in the United States and under 50 employees in the European Union.

          In addition to number of employees, other methods used to classify small companies include annual sales, value of assets and net profit, alone or in a mixed definition. Small businesses are usually not dominant in their field of operation.


          Small businesses are common in many countries. Typical examples include: convenience stores, other small shops (such as a bakery or delicatessen), hairdressers, tradesmen, lawyers, accountants, restaurants, etc.


          The smallest businesses, often located in private homes, are called microbusinesses


          • Re: Adapt or perish
            Analysight Newbie

            Excellent article and great observations. Thanks to social media, marketing doesn't need to be as expensive as traditional media dictate. However, businesses of all sizes must not blindly follow the pack on social media marketing.

            The technology may have changed the marketing strategies of many companies, but they have not changed the principles of marketing. Businesses of all sizes must still understand who their customers are; how they learn about products and services; when, how and where they buy; and why they buy. Knowing this information about customers determines the best marketing tactics to use.

            Social media marketing tactics may not work for some customer segments, - elderly consumers, low-income, immigrant or minority consumers, to name a few - particularly those who have low incidences of Internet access. Although with rising cell phone usage and rapidly improving cell phone applications, social media marketing may be be able to reach many of these segments in the near future.

            To your point, every company should be ready to adapt. If the company is a large behemoth, entrenched in traditional marketing media - it should start social media marketing on a small scale and build it up over time. Right now, major corporations are cutting their marketing budgets to save money. It would be wiser for them to divert some of those savings towards building a social media marketing competency so that they can reap enormous benefits in the coming years. I do not see traditional marketing methods going away, but rather becoming more sophisticated and "smarter" due to the new technology.
              • Re: Adapt or perish
                timandren Newbie
                Awesome take Analysight.

                "...I do not see traditional marketing methods going away, but rather becoming more sophisticated and "smarter" due to the new technology."

                Agreed. Incremental transitions must take place, regardless of business size, into social media. It's another shiny new tool, but the engine behind it (being social people) is still very much the same.