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The Benefits of Incorporating Ideas From Different Industries in Your Business Strategy

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The Benefits of Incorporating Ideas From Different Industries in Your Business Strategy

As the old saying goes, if it isn’t broke, don’t fix it. Unfortunately, that’s been a mantra that far too many businesses have used over the years to justify sticking with specific marketing ideas and campaigns. While some methods remain tried and true for a reason, if you’re not looking at other industries for ideas and inspiration, your business could be missing out on large sections of your target audience.

You could also be missing out on attracting new people to your company that might not otherwise notice you.

Sometimes, the best ideas for growth and success come from outside your industry. For example, if you’re in sales, incorporating therapy techniques might not be at the top of your priority list — but maybe it should be.

Let’s take a closer look at that particular idea, as well as some others, and learn more about the benefits of incorporating ideas from different industries into your business strategy.

A More Diverse Audience

No matter how long you’ve been in business, you undoubtedly know the importance of understanding and catering to your target audience. However, if you’re not taking ideas from other industries, you could be limiting that audience and halting the opportunity to attract new people.

You should be focused on constant growth, and one of the best ways to do that is to connect with your audience on their terms. You can work on diversifying your audience by

  • Understanding what they want
  • Using accessible language
  • Focusing on fun
  • Introducing new ideas that cater to their needs

If you’re not sure how to expand your audience, consider diving into the tech world and using the latest in digital technology to reach new people. For example, the fashion industry tends to benefit the most from social media. What can you learn from that particular industry? They know how to stay on top of trends. The industry regularly works with influencers to promote specific brands and items. You can do the same in your industry by connecting with the right people on social media, and having fun with your audience on digital platforms.

You can even use technology to improve your hiring process and acquire top talent. For example, did you know you can use virtual reality to help you attract talent and improve the onboarding process? Utilizing VR allows potential hires to put themselves in realistic situations so you’ll have a better idea of what they can bring to your company. It can also improve training processes. When potential employees know you’re using the latest in technology to improve your business, they’ll be more interested in applying.

A More Well-Rounded Company

So many of today’s consumers want close relationships with the businesses they frequent. The best way to do that is to humanize your business as much as possible. When it comes to forming a more well-rounded company, compare yourself to a teenager looking at colleges.

Most colleges want more than an application filled with good grades and high SAT scores. While those things are important, they want well-rounded students who are involved in extracurricular activities. They’re interested in people who are willing to think outside of the box and get involved in the community.

As a business, taking strategies from other industries is a great way to do that, and to appear more well-rounded to your loyal customers. It will also make your business appear more trustworthy when you take ideas from other industries that allow you to be more transparent with your audience. For example, you can take a page from Intel’s book. The company regularly shares its diversity and inclusion data so its consumers know how committed it is to company values and beliefs.

By branching out in your marketing techniques and increasing your transparency, you’ll foster a business environment that more people are attracted to. More importantly, you’ll create a business that people trust and want to keep coming back to.

Better Customer Service

It should be every business’s top priority to provide superior customer service. You might already have training in place for your customer service team, and that’s great. However, it can be beneficial to tap into other industries to improve the way your team handles conflict and difficult customers.

Consider looking at different types of therapy. For example, you can utilize aspects of Cognitive Behavioral Therapy (CBT) in the office to identify harmful beliefs between employees, and work through them to foster a healthier work environment. Narrative therapy can help your customer service employees adopt a more positive outlook, especially when dealing with difficult customers.

Incorporating some of the techniques from different types of therapy into your training will not only encourage a more positive mental space in the office, but it can also:

  • Boost employee morale
  • Improve customer service
  • Show concern for your employees’ mental well-being

As a business, you should never stop growing. Taking a look at ideas from other industries and incorporating them into your strategy can be a fantastic way to experience continued growth and tap into uncharted territory that can help you come up with fresh ideas and appeal to a wider audience.

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