Consumers are connected with each other online and sharing information, this information sharing is having tremendous impact on the markets and businesses, big and small. Even businesses deemed too big to fail like brick and mortar stores are feeling this big change and some have already fallen apart. We have endless social networks, Wikipedia and so much more. Even the encyclopedias went kaput. Now we have Living Social, Groupon, UrbanDaddy, etc that allows consumers to buy and save plus share these deals with others.
Really what we have is a digital culture which has changed the face of business and will continue to do so. Are you prepared to lead in this culture? Are you prepared to grow personally and professionally? If you don’t, you will fail miserably, you must embrace this new communication format. Is having the best product, competitive prices, great service and distribution enough to survive this huge shift? Remember with this digital market place all that held up before is not working; it’s no longer business as usual.
So how do your acquire customers and how do you retain them? Now with customers sharing their experiences with each other globally, they are now shaping the market place, you have to ensure what they say in front of your face is the same as what they will say behind your back, quite a sticky situation. The consumer is entirely in control of their choices and experiences. Our need is to really understand this consumer who is calling the shots. We need to know what motivates them, as this will help us to compete. In this case we need to be more flexible; willing to change and empathize, anyone that can aspire to these goals will definitely out perform those that still want to do business as usual.
We as people and our businesses will have to keep morphing and become talking points to get people to belong as we have so much vying for our attention. It’s a smart phone, a text, an email, a tablet, webcam and the list goes on. Landlines have now been displaced in many households, cable TV is causing many networks to rethink shows and profitability, as people are cutting off their subscriptions because they can see the shows online and save money. We are now always on.
The key at the moment is to change and find a way to give consumers something to talk about; people are very distracted, so work hard to stay engaged in person and digitally. What we use and how we use it is vitally important, who knows what it will be in a few weeks. Let’s become a part of the revolution to understand it. Manage your brand and online reputation, become mobile; let’s become our customers so we know what they need, let’s immerse ourselves in this change as this is a rapid revolution. My business depends on my change and adaptability, I market telecom, energy and business services and I know the shift too, I am flowing with this change.
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