2014 Ushers In A Mature Digital Era
Those who fail to reach for the stars get lost in the cloudDecember 24, 2013 By Peter Weedfald, President of Gen One Ventures
We are traveling through a colossal e-tech and e-cloud transfer opportunity within a new era of retailing called “The Internet of Everything” or “The Post Digital Era.” If we pause for a stark lesson from the industrial revolution in the 1760’s, we realize those businesses that did not take advantage of new machinery quickly died.
Continuing to make five pairs of gloves by hand a week while competitors used new machinery to produce five pairs an hour caused acrises of business confidence in1790 as well as profitable pylons of opportunity for savvy competitors. Businesses during the industrial revolution did not recognize the time as one of mammoth evolutionary.
They recognized their wins and losses once the post industrial revolution produced clear market leaders and market losers. By the way, consumers demanded the same they do today: best brands, products, services and price points.
As we march into 2014 it is important to recognize our days ahead will mirror the industrial era. The industrial evolution punished the unwashed in business, the uninitiated in the language of smart machine and technology transfer. Transfer is the appropriate word as in transferring a unique business model, a market making product or service-creating opportunistic change. Savvy transfers during the era harvested and disrupted opportunity all at once.
Our untethered wireless mobile lives today is creating mammoth new market opportunity just like during the industrial revolution. Savvy competitors will transfer their game plan and build accelerating brand and product value through our post digital economy. How? By using new tools and machinery that will enable cloud-progressive and mobile-muscled companies to thrive.
CEOs and CMOs are in a highly visible and unique position to be aggressive harbingers of transfer and change. Whether they want to or not, they will be held responsible for opportunity or losses through cause and effect or smart catalysts of change in 2014. Smart companies know there are four key areas of change that re-define market opportunity in our post-digital era. Each of these areas causes the need to hire and place subject matter experts who have the will, the need and the means to beat their competitors in building post digital highways to market advantage. Here are four post-digital triggers to ensure long-term market success in 2014.
1. SCRM (Social Consumer Relationship Management): According to Deloitte, 60 percent of our online population is connected to a social network. The intense growth of consumer based social media causes smart companies to find efficient ways to respond to consumer conversations regarding their brands and to become a greater part of social communities. Expansion opportunities include a mature company-wide SCRM philosophy coupled with a written strategy enveloping technology, business regulations, departmental workflow and social-centric tools.