We have been talking – and writing – for years about the shifts that are happening in our marketplaces. We tend to focus on the industries that are most obviously connected – energy, technology, media and finance. But the real shift, in my opinion, is more to do with the underlying shifts in consumer behaviour. Take a look, for example, at this infographic from NielsenWire.
The Nielsen US Fact Sheet for January 2011 indicates some of these shifts:
- That we are moving away from broadcast TV to more interactive channels (with high adoption of satellite and cable)
- That mobile devices – especially smart phones are a powerful and important channel (there are more mobile web users (83.2 million) than VCR owners (70.6 million)
But if we look beyond the facts and figures and think about the impact that this is having on our lifestyles then it raises some interesting challenges. How are we preparing for these shifts and changes in behaviour? How are we structuring our businesses to support and engage people?
Just think – every one of these smart phones is a media creation device. With the press of a few buttons, consumers can:
- Rate and review our products while they are in the store
- Gather competitive intelligence on our offerings
- Seek discounts and competitive quotes
- Capture and share their customer experiences as it happens
Perhaps the real question we need to ask is what are we investing in for our own future participation in this new media universe.