How digital platforms have changed the way businesses develop
The rise of technology has transformed competition in business, with the digital world now one of the most crucial battlegrounds for companies trying to claim a dominant share of the market. The 21st century has brought a new set of challenges for businesses, with continued technological development requiring companies to be in a constant state of digital evolution.
If a company is resolved to expand and diversify its clientele, then a mastery of digital business strategies is a must. This is particularly important in a state like Arizona, where there are exciting prospects for new companies. In Forbes’ annual Best States for Business rankings, Arizona came in at a respectable 18th overall.
However, it is in the Growth Prospects Rank where Arizona shines, coming in third behind Texas and Idaho. This rank accounts for job and product growth prospects in the next five years, as well as tracking venture capital investments and entrepreneurial activity. Arizona is set to be a fertile breeding ground for business in the next five years, which means that those who want to rise to the top must capitalize on digital methods.
In five years, technology in business could have come on in leaps and bounds. This means that new Arizona businesses must be comfortable with the digital tools currently at their fingertips. Here is a quick overview of three of the key digital methods that a business can use to engage with existing customers and reach out to new ones.
Email marketing is one of the older forms of technology used to reach new customers and it remains a simple concept. However, how many of those business communications that end up in your email inbox remain unopened or get sent straight to spam? Sending marketing emails is one thing; getting people to read and engage with them is the real challenge.
Emails provide direct access to consumers, as smartphones ensure that most people are now constantly connected to their inbox. Each email should have a specific purpose, whether delivering a key message or advertising an offer. Businesses can now use automation to personalize emails to each customer, which can develop brand loyalty. If used correctly, emails can make a consumer feel valued by a business.
Networking used to mainly be achieved through business cards and conventions. While those methods still have their value, online networking now allows companies to reach out to potential business partners or clients at any moment. The clearest example of digital networking in business comes in the form of LinkedIn, which is much more than a platform to hunt for prospective employees.
LinkedIn Groups works as a digital forum shared between those in the same field, allowing business relationships to develop through discussion. The Lusha for LinkedIn extension can then help companies to log the contact information of those they engage with – much more efficient and practical than a business card. Crucially, using LinkedIn Groups also makes it much easier to establish interstate business partnerships, enabling Arizona-based companies to expand their trade beyond state borders.
Social media engagement
Social media is an increasingly important part of business. That is reflected in the 2019 edition of Ranking Arizona, which includes a list of the top 10 social media marketing firms in the state. A social media strategy needs to be multi-faceted and understand its audience, which is why businesses now rely on specialist consultants.
This part of business looked very different even just a decade ago. Creating a strong social media presence is equally important for new and old businesses. Social media is an effective way for a new brand to find exposure, while established companies need a carefully-planned approach to social media in order to maintain relevance.
Digital Air Strike topped that 2019 list of social media marketing firms in Arizona, with this globally renowned firm providing methods for managing and improving consumer interactions on social media. Not all businesses will be able to hire social media specialists, but a small company should ensure that it has a coherent and likeable online presence. More engagements and shares create a bigger audience, in turn creating more potential customers.
The development of apps is another thing that Arizona businesses have to consider. All of these factors (emails, LinkedIn, social media, apps) can be accessed on a person’s smartphone. Businesses and consumers can be more connected than ever before. Making the most of these connections is what allows a business to thrive, and this will remain the case for the many new companies that will start up in Arizona in 2020