Chisholm and Harper | Creating businesses of the future

In the BRW Fast Starters edition (December 10 – January 20 2010) reporter Jane Lindhe profiles the most successful and resilient start-ups and ponders how they have thrived in a time of financial adversity.  In particular she comments ‘businesses with online strategies have an advantage over their competitors, and companies on the Fast Starters list are excelling in this area.’  She notes that:

• 26 per cent of these fast starters have a facility for online selling
• 56 per cent use social networking on websites such as Twitter & Facebook
• Most use their customer databases to distribute electronic newsletters

While these activities can be a part of an Online Strategy, they are just the tip of the iceberg of what organisations can do online.  Do you regularly monitor what people are saying about your brand and product in the online space and measure it?  Do you have a facility for one-on one interaction with customers who can give you fantastic feedback and a process for integrating that feedback into product development?  Do you empower your loyal customers to become advocates for your brand?  These are but a few of the incredibly valuable things that can be achieved through online that are not just valuable to your marketing department but integral to the way you do business and your bottom line.

While it may seem all a bit hard to figure out how your company can best make use of online, just remember that the Internet isn’t a fad so the hard work will have to be done sooner or later.  One day every company will have a comprehensive Online Strategy; if you are one of the first to adopt one you’ll find you’re streets ahead of the competition when everyone else catches up.