Every day, the world around us continues to change at lightning speed, with trends in marketing, business, and even creative ventures leaning towards the digital and tech-forward. How do companies manage to remain competitive in our digital world? Here are some insights from the experts:
Social Networking. Social networking is definitely not a new practice, but one that continues to prove its relevance in business. As Ted Shelton, the advisory managing director for PwC explains, “the majority of workers are familiar and comfortable with social networking, and for most businesses, there is a growing expectation that these tools will be used in a business context.” Engaging with consumers through social networking will allot businesses tremendous success, and as Shelton notes, “Companies that succeed in becoming social organizations will achieve tremendous advantages over their competitors,” of the way in which social networking is necessary to help companies remain competitive in the digital era.
Innovation and adaptability. Being able to remain fresh and innovative is a critical component to maintaining success in our rapidly changing digital world. Keith Krach, CEO of the electronic signature empire DocuSign says, “With the increasing pace of innovation, we expect the majority of transactions to be completely digital by the end of the decade – opening up all sorts of new possibilities.” DocuSign has thrived because of its innovative approach to a practical necessity, and folks who want to keep up with digital trends are more than willing to get on board.
However, being innovative alone is not enough to ensure success in an ever-changing world. According to Control Group, “Technology is becoming more ubiquitous, simplified, and invisible – a fundamental component of all products, spaces, and businesses. In an era of constant change, differentiation and advantage will come from the right balance of vision and adaptability, not the hot new feature or incremental innovation,” of the importance of focusing on both innovation, and even more importantly, adaptability. The Control Group recently helped fashion designer Kate Spade launch a brand new app that will help keep her business both innovative, and easily adaptable to the demands of consumers, in an example of the fine balance between innovation and adaptability.
Pervasive Computing. Paul D’Alessandro, customer impact consulting leader for PwC, says “Pervasive Computing is the ability to digitally engage and interact (via your mobile device) with enabled objects around you…Instead of users being forced to ferret out relevant mobile apps from the hundreds of thousands available, mobile apps will automatically surface based on situations.” Basically, apps that are able to appeal to and find the user, rather than having to be sought out, will prove the most successful. Technology that relates to people in their daily lives, and is easily accessible has proven to be a strong tool for businesses.
What other trends have you noticed that help companies remain competitive?