We are surviving an unprecedented time of challenges and opportunities. The impact of ramped-up digitalization, personal tech proliferation, and overall economic volatility makes for an uncertain yet tantalizingly opportune commercial landscape. Across every major industry, market conditions and general business circumstances are changing at a more rapid pace than ever before. Emerging technologies are opening up new avenues of exploration for new business models, while fast-paced political, economic, environmental, and social trends are presenting as many challenges as opportunities.
Today’s consumer is also changing; they are becoming more demanding, more price-sensitive, more willing to research and investigate before making purchases, and less brand loyal. Both business and consumer-focused brands who step up their game and deliver optimized experiences and engagement to their clients in these complicated times will be remembered and are more likely to be rewarded with life-long loyalty.
Customers need their favored brands and organizations to come through for them now more than ever, whether they need goods delivered that would usually not be ordered online, or resolving inquires and issues remotely rather than in-store, all of these will play a big role now in our current period of the global crisis and in the future. In short, companies need to work harder and, more importantly, smarter to reach and retain their intended audience, as the market realities of the global digital economy see their competition levels and business costs rise.
Global brands across all major industry verticals are not blind to the ground shifting beneath them and are determined to shift with it. More than ever, companies want to understand and anticipate the needs and preferences of their customers faster and with greater surety, removing the guesswork and unnecessary mistakes that are cutting into already tightening profit margins – and they’re willing to pay more for this kind of guidance.