A great expression (sadly Brian Solis’s rather than mine) but it absolutely sums-up the era that we’re now heading in to.
So, if all markets are going to come under attack from businesses that are smaller and more nimble, able to better utilise the digital tools at their disposal, we’re all doomed right.
Well, perhaps, but perhaps not.
Don’t please underestimate the importance of brand awareness, loyalty and visibility…those things that your business has striven for so long to achieve. But don’t imagine for a moment that those attributes make you invincible, they don’t.
Borders Booksellers in America (the UK arm went under in 2009) was the US’s favourite bookshop. Established over 40 years ago it was by far the biggest bricks and mortar bookshop chain in the world. Now teetering on the brink of collapse – unable (or unwilling) to adapt to the relentless challenge posed by Amazon. 2012 will also likely see the demise of Sony Pictures, Sony Ericsson, Nokia, and MySpace – having already seen the end of Saab and Blockbuster.
This isn’t just (or even) the fault of the economic climate, but the fact that these businesses didn’t change to keep pace with what their clients wanted or needed.
Their clients found an easier way to spend their money…and took it! Brand, trust, loyalty – they counted for nothing in the final reckoning.
So, the moral in this story is. Just because your clients shop with you today DON”T assume that they will tomorrow unless you make it easy for them to do so.