In today’s economy there are three trends that influence revenue improvements for businesses: personalization, authenticity and community. How effectively businesses recognize these shifts defines their ability to re-capture revenues and maintain customer relationships. Businesses and individuals are no longer entering into relationships with businesses simply because of the business; they are scrutinizing and evaluating these relationships through their sense of some personal connection to the people or the community in that business.
This trend is a seismic shift resulting from both the economic meltdown, as everyone evaluated their business and buying relationships, and the influences associated with all the social media activities and informational resources.
What does this mean to your business?
Authenticity: Jargonistic, disconnected, jingoistic pitches do not resonate in today’s market. People are looking to understand and relate to the realism of your business. Southwest Airlines has brought the human element into their ad campaigns with flashing baggage handlers and community serviced oriented employees. Nothing is more authentic than that.
Personalization: Steven Jobs has always brought a personal component to the Apple brand. However, Bill Gates and Warren Buffet in sweaters instead of ties talking at college forums humanizes two of the world’s wealthiest and most influential people. Customers are looking to engage in business relationships with the people in a business, not simply the logo or the name of a business.
Community: Apple and Mac have always done a great job of building a community around their customers. There is a sense of membership, attachment, or participation for customers linked to these brands. More and more people are looking for a sense of connection to the products and services they buy. And they are the ones who can help build that community when they feel that connection.
Social media, technology, and the maturation of a market segment known as millennials are creating a whole new revenue generation. Understanding these shifts and applying your strategies and tactics to respond to these shifts are critical. Traditional, old, reliable, and historic sales and marketing methods will not work in this environment. Make the shift today or your business will be behind the curve.
Dave Cooke has recently launched his program the Sustainable Revenue Formula™ (SuRF), which provides businesses a comprehensive formula for effective and sustainable revenue growth. If you are interested in obtaining a copy of the white paper, “Revolutionizing the Future for Today’s Business”, please contact me: dave@salescooke.com.