On Roger Hamilton’s September ‘Fast Forward your Business’ Tour, he is covering the Top 10 Trends that will be impacting your business today. While most futurists will provide you with predictions and scenarios, leaving it for you to interpret what to do with them, Roger gives very clear advice on how to make the most of these trends and what the implications are of ignoring them until it is too late.
The first of Roger Hamilton’s Top 10 Trends is about the artificial intelligence. It is obvious to all of us that Internet companies like Google, Facebook, Netflix and Amazon are getting increasingly intelligent about how they collect data about us, and then use this data to give us more relevant information.
Roger Hamilton explains that this has turned the traditional model of customer intimacy on its head.
“Traditional thinking says that the bigger you get, the more impersonal you get. Small corner stores or small businesses could provide more personal service and so still compete at a lower level against the large corporations. This is no longer the case. Book stores are going out of business because companies like Amazon give us the book we want to read without us having to browse all the shelves, and deliver at a lower cost because they don’t have all the storage costs and floor space needed for all that browsing. It’s like technology is delivering us our own genius butler by our side 24/7.”
– Roger James Hamilton
The implication of this is that our expectations will become (and often already are) that services we use will know us better than we know ourselves. Search will become a thing of the past (other than simply for recreation), and any company that does not aim to give the customer an experience that enhances their own identity will be out of business.
What can you do about this? Ensure you begin today with a process of collecting and capturing information on your customers, and that you have products and services that encourage more personalized connection and collection. Being personal today still isn’t personal enough.
The first of Roger Hamilton’s Top 10 Trends is about the artificial intelligence. It is obvious to all of us that Internet companies like Google, Facebook, Netflix and Amazon are getting increasingly intelligent about how they collect data about us, and then use this data to give us more relevant information.
Roger Hamilton explains that this has turned the traditional model of customer intimacy on its head.
“Traditional thinking says that the bigger you get, the more impersonal you get. Small corner stores or small businesses could provide more personal service and so still compete at a lower level against the large corporations. This is no longer the case. Book stores are going out of business because companies like Amazon give us the book we want to read without us having to browse all the shelves, and deliver at a lower cost because they don’t have all the storage costs and floor space needed for all that browsing. It’s like technology is delivering us our own genius butler by our side 24/7.”
– Roger James Hamilton
The implication of this is that our expectations will become (and often already are) that services we use will know us better than we know ourselves. Search will become a thing of the past (other than simply for recreation), and any company that does not aim to give the customer an experience that enhances their own identity will be out of business.
What can you do about this? Ensure you begin today with a process of collecting and capturing information on your customers, and that you have products and services that encourage more personalized connection and collection. Being personal today still isn’t personal enough.
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