How Have You Adapted to Technological Changes in Your Industry?
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How Have You Adapted to Technological Changes in Your Industry?
We asked eleven CEOs and founders to share how they adapted to technological changes in their industries. From embracing automated bidding to implementing digital scheduling systems, these small business owners demonstrate how staying ahead of the curve is crucial for success.
- Embrace Automated Bidding
- Integrate AI-Driven Analytics
- Transition to Cloud-Based Solutions
- Utilize AI for Content Automation
- Invest in Smart-Home Technology
- Offer Virtual Property Tours
- Use Drones for Tree Inspections
- Highlight Industry 4.0 Capabilities
- Transition to a Zoom-Only Practice
- Move Business Onto Shopify
- Implement Digital Scheduling Systems
Embrace Automated Bidding
As a business owner, we adapted to the rise of automated bidding in Google Ads. We used to manually manage our clients' bids, but as automated bidding rolled out further and performance improved, we switched to using Google's machine-learning algorithms. This saved us time and improved our clients' ad performance, so we could focus more on overall strategy for our clients.
Integrate AI-Driven Analytics
Adapting to technological changes is crucial for staying competitive, and at CrownTV, we faced this when the demand for AI-driven analytics in digital signage grew. Initially, our focus was on traditional digital displays, but as clients wanted more data-driven solutions, we had to pivot quickly. We integrated AI into our signage to track customer engagement and optimize content in real-time. This shift increased our clients’ customer interactions by 25% and kept us ahead of industry trends. Adapting to this change not only enhanced our offerings but also positioned us as leaders in smart digital-signage solutions.
Transition to Cloud-Based Solutions
One particularly impactful moment came with the rise of cloud-based solutions, which fundamentally changed how we managed our digital-signage content. Initially, our platform was more hardware-centric, requiring substantial on-site setup and maintenance. However, as cloud computing became more reliable and widespread, we transitioned to a cloud-based model, which allowed our customers greater flexibility and ease of use. This shift not only streamlined our operations but also opened up new markets for us, as clients who previously hesitated due to logistical concerns now found our solution more accessible.
Utilize AI for Content Automation
As the founder of RecurPost, a significant technological shift we faced was the rapid rise of AI-driven content-automation tools. Early on, we relied heavily on manual processes for content curation and social media scheduling. However, as AI began to reshape the industry, we recognized the need to adapt quickly.
This wasn’t just about staying competitive; it was about rethinking how we could provide more value to our users. We embraced AI by integrating advanced machine-learning algorithms into our platform, which allowed us to offer smart content recommendations and more efficient scheduling features. The transition wasn’t seamless—it required a lot of trial and error, retraining our team, and reengineering our backend systems. But ultimately, it strengthened our product and opened up new possibilities for our business.
Invest in Smart-Home Technology
One significant technological change we had to adapt to was the rise of smart-home systems and energy-efficient solutions. When these technologies first gained popularity, many clients began requesting more advanced setups involving smart thermostats, lighting systems, and energy-monitoring devices.
To adapt, my electrical company invested in training and certifications for our technicians to become proficient in these newer technologies. We also partnered with suppliers specializing in smart-home equipment. This adaptation not only kept us competitive but opened up new revenue streams. By staying ahead of the curve, we were able to meet evolving client needs and position ourselves as experts in energy efficiency, ultimately boosting our business.
Offer Virtual Property Tours
Over the years, I've navigated numerous technological shifts. One memorable change was the rise of virtual tours, which began to replace traditional open houses. Initially, I resisted, believing that personal interaction and walking through a physical space were crucial for potential buyers to truly appreciate a property. However, as client demand for virtual tours grew, I recognized the need to adapt to remain competitive.
I invested in high-quality cameras and software to produce professional virtual tours for my listings. Although there was a learning curve, I eventually mastered the process, offering clients a unique and convenient means to explore properties without being physically present. This experience taught me the importance of staying current with technological advancements in real estate. Embracing these changes not only keeps us, as small-business owners, competitive but also enhances the overall experience for our clients.
Use Drones for Tree Inspections
In the tree-care industry, one of the biggest technological shifts we had to adapt to was the use of drone technology for tree inspections. Traditionally, assessing tall or hard-to-reach trees involved more manual effort and climbing, but now drones allow us to get a detailed view of tree health and structure from the ground. This not only increased safety for our team but also sped up the process, enabling us to serve more clients efficiently. At first, learning to use the drones and analyzing the footage was a challenge, but it has become an essential tool in our operations. Embracing this tech helped us stay competitive while offering better service.
Highlight Industry 4.0 Capabilities
As the Marketing Manager at Advanced Motion Controls, we had to adapt to a shift towards Industry 4.0 and the increasing demand for smarter, interconnected automation solutions. We integrated IoT capabilities into our motion-control products, which required upskilling our team and updating our marketing strategies to highlight these new capabilities. This technological shift allowed us to better serve clients seeking advanced automation solutions and positioned us as a leader in the evolving industrial landscape.
Transition to a Zoom-Only Practice
Traditionally, divorce mediators have met with their clients face-to-face. When COVID hit, my business went from 100% face-to-face to 100% via Zoom from one week to the next, and I have not gone back. I remain a Zoom-only divorce mediator, and I probably have the highest-volume practice in Massachusetts. This also involved moving from a paper-based business—documents that are reviewed by all parties or filled out in an in-person meeting—to Google Docs that are shared remotely. I pair this with using Google Forms to collect client data and custom Google scripts to transform questionnaire data into custom legal documents. This allows me to run a busy practice with only part-time office help.
Finally, the Zoom revolution let me expand my practice to the entire state. Divorce is regulated by state law, and all courts use the same forms and follow the same laws. Before COVID, people used mediators within a short drive, perhaps half an hour. Now they are free to use mediators from anywhere in the state. My business is now bigger than it has ever been since Zoom freed me from the small catchment area that face-to-face businesses have.
Move Business Onto Shopify
At Elephant Floors, adapting to the digital shift in the flooring industry was a must. We moved our business onto Shopify to make things easier for customers—now they can browse flooring options, order samples, and even check out products in our virtual 3-D showroom, all online. This transition wasn’t just about keeping up with the times; it was about improving how we serve our clients. By embracing e-commerce, we’ve made the buying process smoother and set ourselves up to meet growing customer expectations.
Implement Digital Scheduling Systems
A significant technological change we had to adapt to was the shift toward digital scheduling and customer-management systems. We used to rely on manual processes, but with the industry moving toward more efficient, tech-based solutions, we recognized the need to modernize our operations.
To address this, we implemented a cloud-based scheduling system. This system allowed clients to conveniently book appointments online and synchronize seamlessly with our technicians' schedules in real time. While the transition required initial training and adjustments, the benefits were truly remarkable. It not only streamlined our operations, but also enhanced customer satisfaction. Moreover, it freed up valuable time for our team to concentrate on delivering top-notch service, ultimately contributing to our business growth.
