Shifts in technology and human behavior are rapidly changing customer’s expectations of companies. Things are moving so fast, that most executives are not only trying to catch up with the changes, but identify what some of the changes are. Understanding what those changes mean to each business is a more complicated matter altogether.
Ross Dawson brilliantly lays out his observations of the mega trends happening around us in the charts below.
Two growing and intertwining concepts (influence and reputation) are rapidly gaining ground and creating controversy as to their accuracy, adaptability, and use. There is a growing gap between those who believe that these scores and algorithms are the key to priority and leverage, opening up the door for profitable arbitrage, and others that believe that this is the emergence of a new caste system based on false measurements.
Just today, Klout just released a plugin for Twitter that displays an “influence” score (see the screenshot below), but this type of technology and scoring is currently in its infancy, and still marginally beneficial in the context of real life. However, some large and well known organizations are already giving perks and preference to customers with a high klout score.
Dr. Michael Wu, Chief Scientist, of Lithium Technologies, has been doggedly trying to uncover the meaning of influence, its impact on relationships, and ultimately corporate profit structures. Target the influencers, and you can move the crowd. There are seemingly vast opportunities in understanding and leveraging influencers within networked communities.
But, in reality, the influence/reputation conundrum is just one small movement in a massive tectonic shift happening that is disrupting geopolitical structures (Egypt, Bahrain, etc.), macro-economic theories and assumptions (the financial meltdown and the current response(s), human behavior, and corporate sustainability.
In late 2009, in one the most popular posts ever on customer focused portal, CustomerThink, Graham Hill outlined 15 tenets in his “Manifesto for Social Business“
No1. From Individual Customers… to Networks of Customers
No2. From Customer Needs, Wants & Expectations… to Customer Jobs-to-be-Done
No3. From Company Value-in-Exchange… to Customer Value-in-Use
No4. From Delivering Value to Customers… to Co-Creating Value with Customers
No5. From Marketing, Sales & Service Touchpoints… to the End-to-End Customer Experience
No6. From One-Size-Fits-All Products… to a Long-Tail of Mass-Customised Solutions
No7. From Competing on Products, Price or Service… to Competing over Multi-sided Platforms
No8. From Company Push… to Sensing and Responding in Real-Time to Customers
No9. From Technology, Processes & Culture… to Complementary Capabilities and Micro-Foundations
No10. From Made by Companies for Customers… to Made By Customers for Each Other
No11. From On-premise Applications… to On-demand Solutions from the Cloud
No12. From Stand-alone Companies… to an Ecosystem of Networked Partners
No13. From Hierarchical Command & Control… to Collaborative Hybrid Organisations
No14. From Customer Strategy… to a Portfolio of Emergent Customer Options
No15. From Customer Lifetime Value… to Customer Network Value
Add to these, the fast growing mobile, always connected individuals, and you have the making of a perfect storm, for those who understand where things are headed.
Join the Conversation
On Wednesday, February 23, 2011 at 1 pm PST / 4 pm EST, please listen in to a conversation as some of the world’s brightest minds will evaluate and debate where we’re heading, project how multiple trajectories might collide, and what your organization should be preparing for now.
I’ll be participating in a roundtable, hosted by Focus.com featuring experts Ross Dawson, Dr. Graham Hill, Dr. Michael Wu, and analyst and futurist Denis Pombriant as we explore topics such as:
1) Influence and Reputation: How forward thinking companies will leverage these new measurements to attract and keep customers
2) Co-Creation: What it is and why it’s next in the evolution of customer centricity
3) The Impact of rapidly maturing mobile and collaborative technologies on organizations, their customers, and society as a whole
UPDATE: You can find the entire recorded audio section of the call here.
Hi Brian You’re right in suggesting we are living through some significant business transformation.
This is a great list from Graham Hill. You and your readers may be interested in the related work by Lusch & Vargo on what they call Service-Dominant Logic http://www.sdlogic.net/Lusch_and_Vargo_2008_SSME.pdf
I’m looking forward to your round table discussion.
Thank you Ray. Good comment and valuable resource.