Wednesday, October 13, 2010

The price of complacency

It's been said that more change will occur (socio-economically speaking) within this day than someone who is 90 has seen in their entire lifetime.
While some have said, "the more things change, the more they stay the same", consider this...

For over a decade, companies with names like "AAA Plumbing" thrived because they would be placed alphabetically first in the phonebook, the same companies may not even appear in the first 10 pages of a Google search. All a company had to do 25 years ago was add an extra 'A' in their name to trump the phone book competition, however today the playing field has changed.

Rather than being displayed alphabetically, companies are now sought out in terms of, among other factors, their RELEVANCE. A $50 nuance search and a few hundred to incorporate your company no longer keep you in the game.

The companies that survive, and thrive, today - are the ones who have made a habit of reinventing themselves and getting their message/ brand/ logo/ name out there (directly to the right audience as well).

It's very possible that what may have worked 25 years ago doesn't even get your foot in the door today. Social media is not a fad, it is where business and customers live. The fastest growing demographic among Facebook users? Women 55- 65.

The rules of business have changed and if you are not a part of that change than someone else is re-writing the rules of engagement that you have to live by.

The price of complacency in today's business world? Extinction.

No comments: