2017 is proving to be an interesting and exciting year in business. One of the most interesting things about it is the new so-called “connection economy”. For example:
"Uber is the largest ‘taxi’ company — yet they own no vehicles and excel at connecting riders with drivers."
"AirBnB is the largest provider of accommodations — yet they own no real estate."
"Facebook is the largest media company — yet they create no content."
"Crowdfunding businesses like Kickstarter and IndieGoGo are expected to surpass venture capital for funding in 2016 — yet they have no funds to invest."
It’s incredible the power these companies have by simply connecting consumers! So, number one on our list is:
Connecting Customers: Go beyond the traditional selling process. Your customers want to connect with like-minded individuals to get more value in the long run. Connect your customers to each other and to valuable resources that go well beyond the sale.
Benefit Changes: Whether you like it or not, the millennials will be your biggest consumers and make up the largest part of your workforce. Unlike the baby-boomers, they won’t settle for a 8-5 job and work their way up over the course of their 40 year career. They want flexibility, they want maternity and paternity leave, they want to continue learning, and they want a challenge. Get creative with your benefit plans to attract and compete for the most talented employees.
The Mom Rule: Long gone are the days you can get rid of customers with legitimate complaints by ignoring them or giving them a coupon. Run your business as if your mom is always looking over your shoulder. Customers are demanding fairness and responsiveness to their complaints.
Mobile, Mobile, Mobile: Mobile beacons (marketing alerts), mobile-friendly websites and mobile CRMs are all big keys to success in 2016. The millennials are here to stay and they, more than any other group, prefer mobile interactions because they are quick and immediate.
The Video Advantage: With the amazing video quality we can get with our iPhones, you can create a video without breaking the bank. And a video offers a great competitive advantage that is more engaging than traditional text on a webpage. Videos are great for promoting your products and services as well as providing engaging training videos.
Sources: Business News Daily and Business 2 Community.