Building a Smarter Business: How to Forge a More Effective Online Presence
Bruce Rymshaw, July 19, 2012
In recent months, Yahoo has endured major financial struggles and the company is currently undergoing restructuring efforts to streamline their business and return to profitability. While many experts have offered their opinions on Yahoo's recovery attempts, the brand has yet to see any substantial improvement. Of course, re-inventing the business model of an international, multi-million dollar corporation is not a rapid process.
Although Yahoo understands that an enhanced focus on their core brands and features and the shedding of unnecessary offerings is now integral to their survival; there are challenges in doing so. Yahoo must monetize its most popular features while limiting the scope of their business. While it is certainly possible for the company to achieve this without losing its valuable user base, quality content will be a crucial element of the company's future success.
Maximize Quality to Maximize Success
Yahoo's top priority going forward should be delivering quality content while reducing expenditures on its lesser-known or utilized features. By increasing their focus on quality, rather than quantity, Yahoo may very well be able to re-establish itself as a brand that only does a few things, but does them particularly well. Yahoo's initial rise to prominence in the 1990s was based on this strategy and revisiting it is likely to be a viable solution for renewed success.
Going Beyond Yahoo
Developing high-quality content and minimizing excessive functionality is a wise move for many other online businesses, as well. Companies should consider targeted marketing campaigns geared toward specific audiences in order to better establish their identity as a brand and build a more efficient, smarter business.