Nowadays, it’s almost unthinkable for a business to neglect digital marketing. Even companies that have observed fantastic results with their campaigns will be forced to continuously adapt to stay in the game.
The automobile industry is a great example of this, i.e., Tesla has developed an innovative approach for constructing vehicles to resemble smartphones in that they contain touch screens and lack dealerships. In the beginning, everyone thought this was impossible, but Tesla has remained the fastest-growing vehicle manufacturer.
We can see a similar trend with many other businesses. The pandemic has shown us that business models which cannot be modernised or digitised will be left behind and forced to shut down to avoid unnecessary repercussions. In fact, underdeveloped countries are the only ones allowing state intervention for failing businesses under the pretext of protecting employees. Unfortunately for those involved, this inadequate practice leads to further indebtment and a more catastrophic collapse in the coming years.
Business leaders who want to maintain a competitive edge and keep up with trends need to ponder which aspect would benefit from automatising, new technologies, and digital marketing.