SAN DIEGO, CA – 1 Nov, 2017 – Ryan Mack, the head of marketing at RM Marketing Group, advised small businesses to plan for digital disruption in order to survive the rapidly changing technologies and environment, regardless of the industry they belong to.
Digital disruption refers to the change that happens due to new technologies that will have far and wide-ranging impact on the industry. Small- and medium-scale businesses that fail to adapt to innovations often fail by the wayside.
In fact, digital disruption is one of the major topics of the upcoming 2017 San Diego CIO Executive Leadership Summit in the Hyatt Regency La Jolla in Aventine, San Diego on Nov. 2, 2017.
“The term disruption does have a negative connotation but businesses should not look at it that way,” he says. “Digital disruption can work in their favor when they properly anticipate, plan and strategize for the coming change.”
The marketing guru says that the disruption is often prompted by the shift in consumer preference and needs. The challenge for businesses, therefore, is to anticipate these changes or, if not, adapt quickly to fill the gap in the market.
The odds are stacked against startups and small businesses. For instance, the Bureau of Labor Statistics reports 8 in 10 companies will typically still be operating after a year in the business. In the second year, only more than 6 in 10 will be able to survive. For the third year, half of those companies will have folded.
Mack says that while external factors such as competition, supply, and demand, or consumer interest will have a huge impact on the survival or failure of the business, it would be a mistake to dismiss the importance of addressing internal issues as well.
“Before growing into a $50-billion company that it is today, PayPal was founded as a tool for cryptology. Imagine what it would have been liked had the company continued on with that route rather than as an online payment platform?” he says. “This is the flexibility I’m talking about. Everybody, from the CEO down to the rank and file, should be working together to adapt to the digital disruption.”
Company Name: RM Marketing Group
Contact Person: Ryan Mcaweeney
Country: United States