Many old school businesses are falling apart because they find it very difficult adapting their administration, logistics, marketing, and other factors to this infinitely connected digital age that we are now in. Old profit systems and advertising methods are now being sabotaged by the internet and there's not much we can really do except adapt to it.
The single most important factor has to be your online presence. If a customer can't get the essence of what you're all about from either your website, google searches, yelp reviews, or your social media profiles, then you simply don't exist to the world. Only the luxury market has a slight chance to circumvent this, considering that a key factor in exclusivity is that it's not made available to the masses.
Advertising also needs to be rethought entirely???it's no longer what you say about your business that matters, it's what others say. You cannot pay for attention anymore because any and every market is saturated to the point where no individual idea can stand out on its own. You must create an unforgettable experience so that your customers talk about you nonstop to their friends and family. The same idea can be leveraged on social media if you have a good enough strategy. Figure out what makes you remarkable and capitalize on it.
Hope this helped.
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