When Successful Companies Lose Momentum Online
July 2nd, 2009 | Published in Uncategorized
The company already has a website. Typically, younger management see the stall coming. The web is changing at a rapid rate and their website is antiquated. The misstep usually occurs when the top decision maker is a late adopter to technology. Management can be forgiven for not seeing it coming. They are busy with servicing their customers, dealing with vendors, and fiercely defending their ground against the competition. Momentum occurs when they do not identify the importance of the online promotion of their services or products.
When Innovation Breaks Down
The large factor responsible for the stall is the inability to respond to new technologies being adopted by aggressive and savvy competition. A company that solidly occupies a premium market position has been insulated with its past successes and develops a resistance to changing its online persona. By the time the realization has become glaringly apparent, it is a change years too late.
When innovation in marketing a business online breaks down and updating the promotion of a product or service occurs, growth stalls and the competition gains. Website inefficiencies attribute to this decrease in growth even if the business model is generally sound. After a stall sets in, recovery is very difficult. Most companies will not return to moderate or high growth. They have lost its impression as market leaders in the minds of the consumer.
Is your company about to hit a stall point?
