Technology Drives Business Competitiveness
3 September 2009
Ryan O'Meara, Founder, Independent Digital Media
Ben Randal, CEO, OuterArc
Key Points
- The internet is, in essence, a communication tool that has changed the way we think about business. Businesses need to think about how they can use the internet as a tool to make their business operations easier, cheaper and better. The web can be used to outsource production, to recruit staff, promote products and provide free market research.
- Google Analytics is a very powerful tool that gives free statistics on the frequency of specific search terms. This gives an insight into what people are searching for and how to build a web site with the right content. This then provides the basis to approach sponsors for site advertising.
- Understanding how people interact and use social networks in everyday life is now vital. Social Networks like Facebook and Twitter can be used to reach a wide community with shared interests. Building a good relationship with such a community is becoming extremely important; word of mouth referrals and endorsements among a specific community is an extremely effective form of product marketing. Such networks can also be used as a source of help, for example to gain product feedback which provides free market research that would have previously had to be paid for.
- Search engine optimisation is vital to business growth - it is responsible for 60% of Ryan's business turn over. Getting to the top of Google's page ranking can determine the success of a business. http://www.seobook.com/ is the best source of information on the subject. However, this can only be achieved by a strategic plan of gaining reciprocal links from other sites, buying a limited number of Google adds and effective PR.
- Try to build a viral network. Greater participation and dialogue = greater traction.
- Sell by not selling -The way to sell on the internet is not to sell. Customers logging onto a site don't often buy products straight away. It's vital you capture their email addresses - this can be achieved by the offer of a free gift, the chance to enter a competition etc. "Give them stuff so they like you". Once you build a dialogue with potential customers - by sending them personalised emails about products which you think will be of interest to them, at this stage they are then more likely to buy from your company.
- Make sure you retain face-to-face contact with your customers and that they do not deal with a supplier you have outsourced to and who may not be concerned about the reputation of your business.
- Select industries where you can see a growth market. For example the Utilities in the USA are now legally obliged to invest in energy reduction projects.