The Importance Of Evolving Your Business

Us humans don’t like to change the way we live our lives - we know this for a fact. However, business never stops evolving because the industry itself is always evolving. Anybody who wanted to hold on to how things were will be in for quite a shock this year, as COVID-19 has entirely altered the original model.

Although there have been challenges, the pandemic has presented an opportunity for businesses and individuals to evolve into new ways of lasting. COVID-19 hasn’t just flipped the entire world on its head, but it has sped up trends that were already happening; such as, the move to remote work and the mutual desire for more convenience in our lives (such as doorstep delivery and in-home haircuts). 

Pay Attention to Your Competitors

Every smart business owner has one eye on any other businesses in their industry. Now, this doesn’t technically mean they’re watching their competitors, but it’s critical to know about any major shifts that occur.

Look at how other businesses in your industry are changing how they sell themselves, their marketing efforts, and how they communicate with their customers and clients. This doesn’t only establish that you’re operating on par, but this can give a glimpse as to what customers are looking for and how you should present yourself and your business. Businesses don’t like to make changes unless they see that the changes could benefit  their customers’ needs and wants, which means that most of the decisions that are made are controlled by some amount of market research. If you haven’t done your own yet, start by paying attention to other businesses and it can show a sign of any changes coming your way. 

What Are Your Customers Telling You?

In some cases, you’ll begin to hear what your customers' needs are. Take these comments and requests to heart. For example, if you are a stylist and you’ve begun to offer virtual styling appointments and your customers ask you to make daily style videos instead because they feel that they get more from them, listen to them. Or, if there’s something you’re doing that’s not as effective or helpful as it could be, learn that even the complaints and criticism from you customers can help your business in the long run. 

You can set yourself up to this criticism by sending out surveys or even asking your clients when on calls with them. Ask them what you can do to make their time better, and make sure to take diligent notes on their responses, seeing how you can integrate their requests into your new business model. 

Emphasize Marketing Efforts

Now, this may seem like the worst possible time to double down on marketing, but business case studies say differently. Just because the market has changed, doesn't mean that demand has changed. Put forth additional efforts to ensure customer loyalty. These efforts may include asking for Google reviews, creating informational videos and any other effort that provides value to the consumer. Take this time to teach your customers and potential customers about your product, service or brand and what makes your business unique.

This should create some urgency in the opportunity to market, even now, but one thing is for certain: nothing will stay how it is in a world that has changed as much as ours has this year. While the future is unknown, businesses can stay ahead by deciding to evolve however is necessary, with a focus on providing value to customers at the forefront. 

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