Technology is indeed connecting us in ways that improve communication, discovery and connectivity. The world is becoming a much smaller place as a result. Chances are that you are connected in one network or another to people in at least 12 other countries. Although social networking and smartphones are relatively new as a staple in the everyday life of adults and kids, how we as consumers use these networks and devices is outpacing how we as employees use technology in the workplace. Over time, how we make decisions as consumers, what we come to expect from the companies that we do business with, and simply how we want to work with them is shifting the balance of power away from today’s business models to the connected masses.
Today’s leading companies are already becoming obsolete. Fortunately or unfortunately, they won’t know until it’s too late. In 10 years, 40% of the Fortune 500 was replaced. Irrelevance is only accelerating. It’s Digital Darwinism out here. #AdaptorDie!
Ignorance is bliss, until it’s not.
Technology…social, mobile, real-time, it’s changing the world. Customers are evolving into something new. They’re more connected, empowered, and demanding.
Part of an ongoing series dedicated to small businesses
As you read this, the business landscape is shifting right under your company’s foundation. How customers make decisions, how they discover, communicate, and share, how they influence and are influenced, is evolving considerably. In fact, customer behavior is not only changing, it’s fragmenting and opening the door to new touch points. Your business will now have to compete for the customers you know and additionally, a new breed of customers that you need to know. And, to earn their attention and ultimately their loyalty, you will need to better understand the top technology trends and how they’re impacting customer behavior.
Disruptive technology is the bearer of tremendous opportunity and equally a harbinger of obsolescence. Technology’s impact on society and business is substantial, if not underestimated. As technology continues to become part of everyday life, it becomes disruptive in how people communicate, work, and connect. The evolution of society and technology happens with or without adaptation or understanding. And, it’s contributing to a very real phenomenon of Digital Darwinism, a situation where organizations are faced with a need to adapt to markets and customer behavior or risk a loss in favor, competitive advantage or worse, irrelevance.
A key objective for senior executives over the next several years is to use disruptive technology to get closer to customers, to improve relationships, and enhance experiences. It is a considerable move and the result will usher in a new era of adaptive and empathetic business models. However, this is a move that is easier said than done., especially when vision and execution are two sides of different coins. This is a critical path where businesses must not only commit to new technology and goals, but also invest in the methodologies, systems, processes, and people to bring about change from within before it can effectively engage outside.
It’s a new year and a new set of predictions to set goals and expectations for 2012. I won’t bother you with the top 10 emerging social networks or apps to focus time and resources. Nor will I gaze in the crystal ball to reveal the five secrets to viral marketing and user/customer acquisition. Instead of adding my forecasts to the endless sea of debatable prophesies, I chose a more aspirational path.
Jon Swartz is a veteran journalist who has covered Silicon Valley’s highs and lows over the years. As Swartz says, he’s seen it all and along the way, he’s chronicled not only the events but its impact on business, culture, and society. Jon joins us on (R)evolution to discuss disruptive technology, what it means and what’s next.
Please take a moment to watch and let us know your thoughts…
In 2009, Google struck a deal with Twitter, rumored at $15 million, to integrate tweets into keyword related Google searches. And last month, Google also integrated real-time search technology to surface blog posts and news content as they hit the Web – dramatically improving the previous five to 15 minutes its spiders would take to crawl the Web. I should also note that Collecta also offers the ability to search the real-time Web, but its results also include popular networks within the social Web. Between Google and Collecta, Twitter Search is starting to show its age.
I recently visited good friend Robert Scoble, his lovely wife Maryam and their family in Half Moon Bay. It was an overdue trip, one without an agenda. It was a fleeting opportunity to catch up, talk a bit about the latest book, and also an excuse to have a fireside chat, literally, on the grounds of the Ritz Carlton (overlooking the 18th green and the Pacific Ocean.)
Brian Solis is a digital analyst, anthropologist, and also a futurist. In his work at Altimeter Group, Solis studies the effects of disruptive technology on business and society. He is an avid keynote speaker and award-winning author who is globally recognized as one of the most prominent thought leaders in digital transformation.
His most recent book, What's the Future of Business: Changing the Way Businesses Create Experiences (WTF), explores the landscape of connected consumerism and how business and customer relationships unfold in four distinct moments of truth. His previous book, The End of Business as Usual, explores the emergence of Generation-C, a new generation of customers and employees and how businesses must adapt to reach them. In 2009, Solis released Engage, which is regarded as the industry reference guide for businesses to market, sell and service in the social web.