Trends define the business world
According to Forbes magazine, in the top 10 business world trends that would drive success in 2016 by December 1, the top performing companies would focus on connecting with customers, which means that building relationships and creating connections are actually bringing wealth as much (or even more) as building assets.
Examples such as Alibaba, Facebook, Uber, among many others are right now in the arena showing how a much more global world is rapidly changing paradigms upon commerce, trade and the way of doing business.
Each minute thousands of entrepreneurs develop new ways to approach millions of customers and getting success out of community’s needs.
How threatening is that? Is it an opportunity or a more difficult market compared with the last century?
The “Millenials”, this largest group of often mentioned individuals, the people who are right now in their 20s and early 30s, represent now the largest customer and employee segment around the world.
They are about 80 million people who are also soon to be the largest business owner segment.
Besides, they are redefining ways of doing business according to the flourishing characteristics of society.
Such as from 1947 to 2010 Baby Boomers represented the largest segment of the population.
According to Kim Cole
According to Kim Cole, Millenials need to see a clear vision of their growth and future role in the organization.
They might have aspirations that go beyond their current skills, that is probably because, although this group often present high ranked series of technological abilities.
Millenials demand comprehensive leadership and opportunities for growth within every position they fulfill, collaboration and a seamless work-life balance are vital not only to their comfort but also to their success within the workplace.
They also effortlessly adopt new technologies, therefore erasing the awkward adjustment phase every previous generation of offices has endured after a computer and equipment update.
This double/edged sword often causes troubles dealing with younger employees, as it opens the gate for new more demanding markets and entrepreneurs.
As more businesses employ social media strategies and e-commerce as a primary weapon, the team members must learn to work outside the office, with a schedule arranged to customer’s behavior.
This is said to be a factor creating more engaged employees and it is an opportunity recruiting Millenials, displacing traditional models of business.
Recent studies show that productivity usually increases about 20% when employees are engaged at work, which is why is extremely important investing in natural talents rather than imposing unpleasant activities distant of natural skills.
Top companies are also leading markets based not just on expertise, but in the ability to offer commodities in a fast and easy way.
About this, Amazon is essentially training customers to be comfortable buying remotely from faceless vendors.
This opens new market opportunities where you can charge for your expertise to online consumers who are now.
Thanks to Amazon and others, comfortable making purchases from remote sources. Getting their products in the blink of an eye.
Today, with almost no financial investment, you can sell your expertise and talents anywhere in the planet and top companies know this.
Is this initiative killing small business?
This means a whole new world of initiatives and challenges defying competence. But also gives a chance for every person to develop his offer and give 100% of his efforts, to gratify expectations.
Amazon is essentially training customers to be comfortable buying remotely from faceless vendors.
Now, while you might suffer trying to provide a commodity in your local market. Business opportunities for your niche expertise may have grown beyond your neighborhood.
Today, with almost no financial investment, you can sell your expertise and talents anywhere in the world. Which is why specialization is attracting ideal customers from across the globe.
According to Jay Baer
“Globally, we spend $500 billion on marketing each year, and $9 billion on customer service. This is despite the fact that we know that customer retention is the quickest way to profit growth. Smart companies are starting to embrace the notion that customer experience and customer service IS the new marketing”,
It is that by 2020 customer experience will be more important than price for B2B purchasers. This may be another decisive factor of success.
Customer service is still the main key to growth in the business world, keeping a happy customer. Besides the constant improve of internal production processes means an established and sustainable platform for reaching new markets.
Tony Hsieh said
“Let’s take most of the money we would’ve spent on paid advertising and paid marketing and instead of spending it on that invest in the customer experience or customer service and then let our customers do the marketing for us through word of mouth”
This Zappos philosophy has stirred up business activity and business plans. Engaging teams in all the organization through thoughtful discussions may help companies change paradigms around the customer satisfaction.
Bill Gates says
“your most unhappy customers are your greatest sources of learning”.
Top performing companies are also investing in approaches to ensure the success of each project for each customer. That is because the markets growing expectations around quality.
The technologic and systematized industrial processes have increased demand in each element of the final products and services.
In this sense. It is usually the price will matter most when the seller actually believe that price matters most.
There are many options for every necessity and every day, quality takes a more important place in globalization. Which is why low costs services providers are falling behind.
In the world full of skilled customers. If you are aware of the quality of the services you are offering. There is nothing to be afraid of. Providing impartial content about what you are offering is the best way of gaining a customer. Fidelity and guaranteeing your place in the social knowledge.