Forbes had a short article recently that briefly touched on why being left behind by the digital marketing and social media train, especially at this late stage, is the worst thing a business could do. We’re all about helping late-comers to the social media party get caught up, so we absolutely want to convince anyone who may still need convincing: digital and social media marketing is here to stay, and not taking advantage of it will make you fall behind your competitors.
The example given by the article’s author, Larry Myler, really drives the point home:
- “In the late 1980s you had to have a fax machine (and fax number on your business card) in order to be seen as a credible business”
- “In the late 1990s, no legitimate company would be caught dead without a website (in fact, any company without a website was probably dying as a result)”
- “In the late 2000s (and more so every day), any business without a proactive plan to manage social media was falling behind its competition”
- “In the 2010s, if you still have a fax machine (and fax number on your business card), you may be in more trouble than you thought”
This chart of how a new business technology is adopted, also in the article, shows the danger of waiting too long to adapt to new technology:
The Innovators are brave frontiersmen, charting the vast unknown fearlessly. It might have bitten them in the end if the tech didn’t pan out, though, so no one expects every company to be one of these guys. Early Adopters took a bit less of a risk, but were still ahead of the curve, and lucked out by choosing a technology that took off before any of their contemporaries had it, which didn’t hurt their bottom line. Early Majority was the main rank-and-file that adopted the tech once it became clear that it was working, though not clear that it was a permanent paradigm shift. Late Majority is where we are now. It makes perfect sense to wait until this period, to make absolutely sure the technology is worth the investment, and, you can see that it represents one of the largest periods of adoption for a new technology. But what Forbes was correctly pointing out was that we are on the tail end of Late Majority, and heading into Dinosaurs. The Dinosaurs range is when companies that adopt the new technology never truly catch up, and can easily go extinct! They are now so far behind their competitors that the damage can be permanent.
So don’t be a dinosaur! Let us help you catch up with that curve, and avoid extinction! Call us today, and let us get started on bringing you into the digital marketing and social media future!