Change is inevitable: As an economy matures, ages, and ultimately evolves into something new, adjustments must be made to our business development, marketing, and branding.
Failure to adapt to new realities results in potentially unwanted and dramatic consequences.
We are all aware of how modern economies have developed from those based on agriculture, to those based on industry, and then on information. But where do we stand now? Is the information economy dead? If so, what's replaced it?
We need look no further than Maslow's Hierarchy of Needs to see parallels between personal and economic growth in a sophisticated modern economy.
The agrarian economy satisfied the first level of Maslow's hierarchy by fulfilling basic physical needs like food, while the industrial age provided the goods necessary to satisfy a variety of concerns, ranging from safety to social acceptance and status. The information economy provided answers to our cognitive needs, the desire for knowledge.
But things have changed. The Web has disrupted business-as-usual: The effects on the music, film, television, newspaper, book-publishing, and software industries, just to mention a few, have been not just dramatic but traumatic.
The adage "adapt or die" has never been truer for business. So where are we now on the personal and economic pyramid?
Be All You Can Be
Take the first step (it's free).
You may also like:
- Five Rules for Growing Customer Loyalty Even as Coronavirus Disrupts Supply Chains
- Transparency and Trust: The Key Links Between Data Regulation and Customer Experience
- Top 5 Critical Components of Great Customer Experience
- Five Reasons Companies Ditch Big-Name CRMs (And Go With Startups' Instead)
- How Are Customers Reacting to Your Loyalty Program? Four Issues to Avoid