In short, your first move is to recognize your strengths. Foremost among those strengths is the power of your brand. As many dot-coms have learned, brand power cannot be purchased for a few million dollars on Super Bowl Sunday. Strong brands represent a deep bond between a company and its customers. This high level of trust and confidence typically takes years to develop, and reaps tremendous benefits.
Operational excellence is another core strength.
Those millions you saved by skipping any Super Bowl advertising were instead likely invested in making your business run better. Your existing channel is yet a third strength to leverage. In short, you Goliaths have got a lot to work with. But to position yourself for long-term success in the new economy, you must also embrace the Internet business model that will one day own your clients. While in some industries, take groceries for instance, existing channels will continue to dominate, in many others such as retail banking and travel services, e-channels will constitute an increasingly vital means of reaching customers.