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Yahoo made billions by just providing display adverts to its website visitors on the desktop web. When smartphones became the major means of accessing information, Yahoo couldn't keep up with the demand for high-quality mobile advertising experiences. #ThinkWithNiche
Yahoo was previously valued at $125 billion, but it was recently sold for less than 4% of that value.t's the end of an era for one of the most powerful online corporations, and it's been a long, fret decline for what was once the most popular web portal. Here are three lessons that every firm may take away from the demise of what was once a tech behemoth.
Capitalize on shifts in user behavior- Yahoo's failure to successfully shift from one of the major desktop web businesses to a powerful mobile competitor is one of the primary reasons for their lag behind competitors like Google and Facebook. The bad news was that Yahoo was in a great position to benefit from the shift to mobile.
Yahoo receives one billion monthly visitors who read and respond to email, check the weather, read the news, check sports scores, exchange photographs, and much more — all of the things we are used to doing on our phones every day. Yahoo was not only tardy to notice the impending change to mobile, but they also missed out on the social experience trend. They squandered their $35 million Flickr purchase in 2005. Flickr may have easily been mistaken for Instagram. Whether you're a technology company, manufacturing, or service provider, having a thorough understanding of your primary consumers can help you react to changes in their behavior and ensure that your business survives.
Know your mission and concentrate on your primary competencies- Yahoo had no idea what kind of company it was for a long time.
Google's purpose is to organize the world's information and make it accessible and helpful to everyone. And, while they're involved in a variety of industries, from self-driving vehicles to healthcare, they tackle each one with a data- and technology-driven strategy.
It's difficult to keep track of how much different mission statements Yahoo has had throughout the years. Be clear about your objective and the type of organization you are, and concentrate on that. Don't try to be a clone of someone else's success. Customers will understand how you can help them if you know who you are and what you are good at, and you will be successful.
With the best people, create a strong culture- You can't build a strong corporate culture if your leadership is inconsistent and if you don't know what kind of firm you are. A bad corporate culture will also allow bad prospects to become workers, allowing them to cruise. When your purpose is to ship items you're not ashamed of, no one will like them. And the culture in which you work has everything to do with your thinking.
Amazon has a culture that isn't for everyone, but it's a powerful one that obviously prioritizes developing creative products at any cost.
Culture is one of those "hand-wavy," subjective ideas that no one can pinpoint, but it has a significant impact on the workers you hire, how they do their jobs, and the overall quality of your organization. So make sure you know what your objective is, organize your organization around it, and allow it to guide your business decisions.
Conclusion- One
of the most powerful online corporations of our time has closed its
doors. But it didn't have to be like this. Yahoo might still be there
today if it had gained a better knowledge of its users, focused on a few
things they were good at, and built a solid company culture.
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