When it comes to technology, the only thing constant is change. It is essential that any company factor changing technology into its business plan. Failing to take into account the way technology will shape your customer base, your expenses and overall approach to business would be a recipe for failure.
A recent move by Largo-based Cox Target Media, the company that sends Val-Pak paper coupons by mail to millions of American households, is a good example of a company taking changing times and changing technology into account.
That move was its purchase of Savings.com, which is one of the largest Internet-based distributors of coupons. The deal includes Savings.com's sister site, the British webpage Savoo.co.uk. The acquisition cost about $100 million.
A spokesman for Cox Target Media said the purchase allows the company to differentiate its business models and explore new ways of reaching customers and satisfying the needs of clients.
Evolution was necessary for Cox Target Media because a business that relies heavily on something like paper coupons and the U.S. Mail would be likely to suffer in the coming years if it doesn't adapt. People are using paper coupons and the mail less often and are turning more and more to the Internet.
If you are an Orlando business, you will likely face a similar challenge at some point. It won't be the same as Cox Target Media's, of course, but all successful companies will encounter obstacles to which they will have to accustom themselves. It's simply a natural feature of doing business.
Source: The Orlando Sentinel, "Savers alert: Giant coupon company to be created by Valpak distributor, online website," Tamara Lush, June 21, 2012
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