Technological advances have unleashed some unprecedented changes in recent years, allowing for businesses to access new markets. Social media platforms (such as Facebook, Instagram, Mailchimp, Twitter, and WordPress) and the internet itself have been key to that end. Is your company already a part of the digital era?
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How has COVID-19 impacted the new digital era?
At QuAdrans, we believe that all change is positive. But the coronavirus pandemic has represented an extraordinary challenge for businesses around the world, and some of them were not financially prepared for it. Rapidly adapting to the digital era and its very specific needs was key for them to survive.
#QuAdransTip: Think of both the present and the future as you plan your business.
While numerous businesses closed amid the pandemic, others managed to grow, and some entrepreneurial projects took shape and were carried out.
How did your company react to the crisis? If it has not yet fully adapted to the new digital era, make sure to implement the following strategies:
- Build a strong brand identity to make your business stand out. Create a website and use social media to promote your products.
- Do not limit the reach of your company to just a small sector. Think ambitiously and enter new markets over time.
- Plan your business with a long-term perspective. Competitive markets change constantly.
- Use the tools and strategies developed by social media platforms to explore the market. (Facebook specifically allows you to measure and track consumer behavior).
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At QuAdrans law and finance, we are convinced that the digital era is here to stay, and only by adapting to it can any company have a competitive advantage. Learn more about our payroll administration service here.
