NowBusiness vs. eBusiness
Attended a meeting the other day and was one of speaker on this topic,
"How eCommerce change the world"
My sharing focus on the mentality of business owners of not wanting to take on whole heartedly on this shift despite all the advance technologies that we can have now.
One of the area i stress is that our previous business will have 5-10 years life span before competitors can catch up/match us, but, today, our competitor will beat/replace us in less than 1 year (if you are lucky..) if not shorter time, simply because of the abundance of technologies as well as the birth of new customers (digital customers)
I was with my business friend whom is running a family business (wine and liquor distribution) that used to concurred 30% of local market share up to 10years ago, however today, he cant even tell me what is the market size nor his company market share simply because of the swamp of etailer/eDistributors sunk his company and make them just "one of the old school" business, and he has not been getting new customers (which is critical for your business tomorrow) as many as they used to have. His team now is into digital marketing but the current business infrastructure simply cant move as fast as those start ups, and while bleeding from shrinking margin, he also suffering from disconnection from the new market...what a sad story right? some think this is just someone else story, but seriously, if you in business, you know what i mean.
eCommerce isn't about new business, its the SAME business BUT with different and new way of marketing and reaching the market.
Another story i have today..a conventional training services company, used to have 3 dedicated sales persons managing the flooding sales inquiries for many years, decided to move to digital marketing and connecting their customers and NEW market simply because the dropping margin, competitions and overly expensive and exhausting human resources issues drained the values of training and profitability. Their O3 approach (offline-online-offline) is so interesting that really open up new market that they never knew existed! Their online inquiries increased from 1/2 a month to now 15-18/month...and with the minimized cost of operations (sales person, commission, human headache/heartaches), the bottom line of the company improved by 70%, amazing right?
Too much being said and too little being done...Now, my question to you, business owners, are you really and seriously wanting to continue your business, or are you just "wait and see what will happen"? Either way I'm happy, because i know its not about whether you want or not, its about whether CAN YOU DON'T DO THIS?