Adopting technology can change cost drivers and bring innovations that reduce expenses
Posted: Mon Jan 20, 2025 8:52 am
The invention of the internal combustion engine, for example, completely reshaped the future of the automotive industry, leaving electric vehicles behind for a century.
Technology can also impact the way consumers engage with your business.
Just think of the changes in the e-commerce industry during the COVID pandemic. Looking at the demographic breakdown of the population in general, and your customer base in particular, is crucial. For example, Millennials are the andorra email list most diverse generational cohort ever seen, which means companies are dealing with a highly racially and ethnically diverse subset of consumers. Overall, you’ll need to adapt your products and marketing strategies to meet the needs of your audience, so keeping an eye on demographic trends is key.
Communication Trends From communication channels (think social media in the late 2000s) to different messaging (think P&G’s positioning for #likeagirl discussed earlier), brands that fail to recognize the changes in their consumer communications risk being replaced by more “informed” competitors who can connect with their audiences at the right time, in the right place, with the right message.
Technology can also impact the way consumers engage with your business.
Just think of the changes in the e-commerce industry during the COVID pandemic. Looking at the demographic breakdown of the population in general, and your customer base in particular, is crucial. For example, Millennials are the andorra email list most diverse generational cohort ever seen, which means companies are dealing with a highly racially and ethnically diverse subset of consumers. Overall, you’ll need to adapt your products and marketing strategies to meet the needs of your audience, so keeping an eye on demographic trends is key.
Communication Trends From communication channels (think social media in the late 2000s) to different messaging (think P&G’s positioning for #likeagirl discussed earlier), brands that fail to recognize the changes in their consumer communications risk being replaced by more “informed” competitors who can connect with their audiences at the right time, in the right place, with the right message.