Retail Apocalypse - Why It's Happening and What To Do About It.

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A recent article from PracticalEcommerce by Armando Roggio documents the decimation of the brick and mortar industry. As many as 4,000 brick-and-mortar stores have closed in the United States since last year. Armando suggests two reasons, technology, and training. My research indicates it's not about tech, it's about mindset. You need to look no further than popular culture. Marvel comics transformed from comic books to a multi-billion dollar empire simply by taking the same stories out of the books and onto the big screen. It was made possible by the invention of digital effects. 

Take Your Best Self and Make It Timeless

In another recent article, Digital Transformation Is More About the 'Transformation' Than the 'Digital' author Rich Wood makes the case that technology is the enabler, not the engine of transformation. He goes on to say, "Real digital transformation, which holds the idea of transformation at the heart of the concept, is really about applying the new to the iconic, improving it and making it timeless.".

The implications of digital transformation extend beyond retail and comic strips. In three years all industries will be impacted by the disruption. For your business, it comes down to two choices. Will you be a champion or a victim of digital disruption? Three ideas for your consideration.

Develop the Need for Speed

If you were able to increase the tempo of business, how would that impact your bottom line? Digital enables your organization to respond quickly to inquiries, establish a dialog, provide prospects with answers faster than ever before. Closing more sales in less time is the result.

Stretch to Increase Your Reach

It is simple math. More prospects equal more revenue. Digital helps you get your brand story, your grand opening, today's special offer to those you serve best. If you use a street side changeable sign, snap a photo after each change and share on Social.

Place Your Processes on Autopilot

 One of the best ways to leverage your digital resources is by applying it to streamline your business processes. Automate repetitive processes to reduce expenses. Look for ways to transform labor intensive tasks involving paper and pencil into automated digital processes. 

Although it's rarely spoken out loud, fear is the biggest obstacle blocking established business from profiting from their digital future. It starts with the fear of change. It paralyzes business leaders into putting off the inevitable transformation. Then the fear changes into the Fear of Missing Out (FOMO). By then, it is often too late.

Develop your 2020 vision for a profitable future. Call 904-566-8325 how your organization can profit from a digital transformation.