The commercial digital world we live in is always in a state of flux, change is inevitable and based on my experience change (positive/negative) happens as a result of changes in behaviour combined with a business that's lost it's 'WHY'!.
Companies that don't invest time, effort, and resource to keep pace with the dynamics of change tend to be the losers in the world of commerce.
"What you were great at yesterday will no longer be a strategy for the future"
As the Re-Commerce (recycle) agenda is now becoming mainstream and fast fashion isn't well, quite as fashionable as it once was we are seeing a huge shift in behaviour from a segment of consumer that older generations love, but seem to easily dismiss.
Customers, particularly younger ones want to know what the companies they engage with are doing for, with, and to the world.
Nine in ten Generation Z consumers believe that companies have a responsibility to address environmental and social issues.
Younger people think that environmentally and socially focused companies are better prospective employers, and the vast majority say they would be more loyal to companies aligned with those values.
Today's generations know nothing other than the free to access, free to use, lo-cost, no-cost digital world that many from previous generations still find somewhat bewildering.
Especially in multi-channel retail.
Remember those 'mission statements' that were hung on company walls like pictures of the family representing times gone by?
All representative of an internalised 'command and control' culture that's totally outdated today, especially when the only mission you should be taking is an outside in consumer centric one.
The next wave of disruption doesn't require you to invest in the next 'digital' big thing, it doesn't require you to bolt new tech onto old tech, it also doesn't have the patience to wait around for decades for you and your team to think about how to adjust and adapt.
Social commerce will turn us all into shoppable product demos and our life into a catalogue of stylised products.
It will also introduce new revenue streams, business models, marketing strategies and regulatory hurdles. Social currency is the fuel of the modern retail economy, and community is its killer app.
Makes you think - doesn't it?
A strategy is a key ingredient of social media marketing. It requires an understanding of your audience, what they’re looking for, how their needs align with your goals, and ultimately, how you can attract them with an offer that gets them get on board with your business.