Out With The Old, In With The New: Replacing Outdated Business Practices

Out With The Old, In With The New: Replacing Outdated Business Practices

By Business Desk

Thursday, September 29, 2016.

Some people claim that it’s best to stick to traditional methods. While this is true in some cases, it’s not always the best idea. This rings particularly true when it comes to business. Competition is becoming increasingly fiercer, so you have to keep up with modern practices.

With rapid changes in technology and differences in what employees want, you need to adjust to the modern way. Here are some outdated business practices, and how you can adapt to newer methods.

Sales Tactics

Outbound sales have been used in business for multiple decades, but they may not be as effective anymore. In the past, reaching out to potential customers directly was necessary. Door-to-door and telesales often worked in the past, but the younger generation is put off by these methods.

Nowadays, people have instant access to businesses through digital technologies. People prefer not be hassled to buy. They’d much prefer to make the choice themselves. You can still appeal to potential buyers, but it’s better to focus on inbound sales. Many companies get help from services like Saleshub for maximizing inbound sales.

Companies often have a website to make their services clear to consumers. This way, they can focus on bringing people to them and then converting them to customers.

The 9-to-5

A lot of businesses think it’s best to have all employees in the office for 8-hours a day. In fact, some companies even push their workers to stay in the office more often to get extra work done. This has long been believed to improve productivity, but the opposite may be true.

Studies have shown that flexible working boosts productivity. Giving employees the option to work from where they want, and when they feel more productive, is beneficial for businesses.

Another option is to offer flextime, where employees come to the office for 8 hours a day, but at times which suit them. Flexible working options keep employees satisfied. You can attract the best candidates with a good work-life balance as a perk.

Advertising

In the past, television commercials were huge for putting a company on the map. Today, this is much less effective. Television used to be the primary form of home entertainment. But Nielsen statistics show that TV viewership is rapidly declining.

Millions of households don’t watch broadcast TV at all. But it doesn’t mean they don’t watch anything. Internet streaming services are now the preferred method of viewing shows and movies for many people.

Businesses have to be more creative with their advertising. A YouTube video campaign will be much more successful than a television one. You can also get ads placed on websites and streaming services.

In-House To Outsource

Many companies used to manage all of their operations themselves. Today, outsourcing is becoming increasingly common.

There are now B2B services which can handle practically any business operation for companies. Whether you need marketing, I.T. help or legal advice, it might be more cost efficient to outsource rather than hire.

This is incredibly useful to small businesses with limited funds. Even large corporations often outsource operations such as manufacturing and marketing.