New Technology and Consumer Habits Are Constantly Changing Your Strategic Variables
Every spring there are posts all over social media with pictures and videos of graduates at their school’s graduation ceremonies. Then there are pictures afterwards with all the friends and family that contributed over the years to the graduate’s work. Finally, these posts are accompanied with some sentimental, reminiscent quotes to remember the only years at college. There are also a number of posts from the graduation parties afterwards, with extravagant decorations and catered food where all of the extended family and friends come to celebrate this one time occasion!
Everybody should recognize major accomplishments in life like these and appreciate them, but too many people get caught in the idea that once they finish school they are done with learning forever! This could not be more wrong! If anything, graduation should be a signal to the world that new graduates are ready to continue to learn on their own without the help of a structured plan created by a paid academic institution. Learning is a skill not an accomplishment. School should teach you how to learn so that you may learn the rest of your life.
If you research some of the biggest entrepreneurs and business owners in the world many of them read books, as often as one per week. They understand the value of learning. Learning for business isn’t an advantage it’s a necessity, because if a company obtains a competitive advantage they could take a large portion of market share overnight as an early adopter. One of the best examples was the swift increase in technology from the ’90-‘00s. Nobody use to have websites, computers, or even mobile phones, now almost everybody does. If you don’t follow the up and coming technology and tactics then you risk the chance of becoming obsolete as your competitors steal your customers.
This can be applied today to the topic of social media, the best. The younger the age group, the higher the number of smart phones owned. The younger the age group, the higher the amount of social media usage. People can and do access social media 24 hours a day, 7 days a week. So why aren’t companies advertising and connecting to their consumers and clients on the platforms they use the most? Simple, because many companies didn’t take the time to learn about social media and how it will affect their market and consumers. And for those companies that ignored social media and the digital age they will start to feel the effects of this transition soon if they haven’t already. I even recently saw an article about a millennial that went to Kmart for the first time and her explanation as to why millennials would never go there. And you wonder why Sears and Kmart are constantly losing money and closing stores!
You don’t have to be an early adopter or be an expert on every new thing that may touch your industry but pick up a book or follow informational social media accounts. If you have a question look up the answer or call a connection that does. Never stop learning or you risk falling behind!