How Will Your Business Cope With the Social Era?
What strategies does you company use? Reality check, some strategies are dated already.
With our ever-changing world, traditional strategy is harder to use. It no longer works.
Times are changing, the scenes are changing and technology has come into play.
And when we mention technology, the use of the internet and social media comes with it.
Social media is playing a big role in our daily lives. We will delve into this further in today’s article.
What we do now is about being connected. We stay connected for our work.
There are several platforms that enables as to stay connected and do our work together. With this connectedness, it’s easier to create and exchange ideas. This is certainly an advantage to a company – to be able to exchange and contribute ideas.
However, the people in your organization must understand your strategy and what role they play in it. No use of having a strategy when most of the members don’t understand how they can participate.
Because times are changing, we can’t also stop how consumers’ preferences and needs change over time as well. It’s important that we know what they want – this way, consumers are involved in your business. Organizations need to adapt and innovate their products.
They lesson we have here – we don’t always get it right the first time. The company should learn from its mistakes, improve and innovate.
Customer feedback is important. The only way an organization can adapt is by listening to their customers. Businesses of today should adapt the idea that their consumers are their partners in building their business.
Hierarchy should be also a thing of the past in this age of social era. When doing projects, it’s better to have group circles which sizes change depending on the task at hand. We use the strengths of different team members and let them perform together.
When we have gap in skills, we let others who have those particular strengths take over. Where the team falls short, we use our connections to source externally.
We can learn from here, that the organization should be flexible. A team member is known for his contributions and his work becomes more meaningful.
Falling in Love
Doing business has its similarities with going to war. We conquer our target markets and defend it from competitors. We launch products and win more customers. However, we can look at it in another way. Instead of war, we can compare business with romance.
Introduction: This is always the first step, the meeting and getting to know each other phase. For your business and the consumer – this is an important stage of knowing each party. What the business can provide and what the customer needs.
Getting Together: Spending time together will bring out a lot of concerns and knowing how you fit into each other’s life. We get to know the habits, quirks, and what make each other tick.
Same with the company and consumer, you are together and there are things that may disappoint you. Either way, you’re in this together now.
Commitment: When you fall back into your routine and the expectation has been set, the relationship stabilizes. There are still things that you two disagree with but you have a way of compromising.
You really want to be in this relationship so you make it work. Similarly, the company and consumer are now committed to each other amidst the highs and lows of the relationship.
Partnership: What further solidifies a relationship? Deciding to be in it together for the long run and having children. So when the organization and the customer work together – they become partners.
It’s no longer a relationship that’s based on a per transaction basis. They are both involved in creating the product.
Creating New Strategies
As said earlier, the business scene has changed – so your strategy must also keep up with the times. Your target has become more specific as well and your competitor more into the game than ever.
Where in these times, where people have become more social – it is important to get feedback from your customers. That way, you can build your strategies from their output.
Create and adjust the strategies as needed. The advantage of this aspect also is you create a better connection with your market.
It is essential that you recognize the talent and skills each person brings in to the team. It’s not about who’s smarter or who’s more experienced among the team.
Recognize that each person contributes differently to the goal. Each team member has their own skill set and each person’s talent is different.
It’s about how they work well together to achieve the goal. Give people the freedom to create and make decisions.
This is in relation also to the absence of hierarchies, the members can decide on their own. With this mindset, talents and skills are more encouraged to be used at work.
Also, businesses today have moved on with having a deeper purpose. Customers are no longer just customers. You engage with them, know their thoughts, hold their feedback valuable.
Build a community where work doesn’t feel like work. Make it an environment where everyone can share their thoughts, feel motivated, and is inspired. When work is done in this kind of atmosphere, the members are more driven to achieve the goal.
The freedom to make decisions was mentioned earlier, with this, the time spent in achieving goals is lessened. When the members understand the goal and their role in it, they can decide on their own. As a result, the faster it is to arrive at the desired outcome.
And with a purpose, things become more relevant. Because they know the purpose and why they do things, everything is more relevant.
When people just do things because they should do it – that’s not having a purpose. That’s just having a routine. Purpose makes the business more meaningful and relevant.
Don’t worry if you’re business is still working the traditional strategy, the important thing you can do now is to adapt with all these changes. The faster you adapt the better your organization will evolve.