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Understanding modern business success
Success in business is changed over time, but especially in the modern era business success looks very different. Social media has changed many of the ways that you can jump start business success or maintain your market share. Rapid capital availability and the ease online digital storefronts have made it easier than ever for budding entrepreneurs to start their business journey. With all of this in mind, lets look at 5 hallmarks of modern business success and what we can learn from them.
- Traffic
Prior to the Internet it could be hard for a business to measure how much the average consumer thought about or understood a business. Thanks to websites and the many tracking tools that are available it is very easy for businesses to measure the traffic they receive. Traffic in the general sense can allow a business to better understand the engagement they have with their customers. It tells them how customers prefer to buy, what messaging resonates with them, and the demographic as well as location data. All of this is valuable information for tailoring your product and services to meet consumer needs. This is why marketing is so much more effective now than it is today, as it is much easier to create targeted communications and products.
2. Subscription based models
