The world is “shrinking” as a result of technology and the powerful connections and immediate interactions it permits us to carry out. With the world more interconnected, we are more aware of other cultures, practices, successes and failures. We know what is available to us and can create demand to have foreign products imported for our consumption.
Travel is much quicker than in previous decades and centuries, providing choice in transportation and variance in cost. The same can be said for electronics; laptops, tablets and smart phones are designed by many different brands and have many models within each category (size, colour, memory). The internet has given rise to online shopping, online television and billions of other great things.
Entire industries are being collapsed: The music industry, the book publishing industry, and the newspaper industry are just a few that are in complete disarray. And downstream from these are the retailers: when was the last time you went into a record store or book store? While this collapse might suggest less choice, a simple internet search shows a vast number of places to purchase – or download – the product.
The challenge with the smaller, million-choice world is that it is too easy to get lost amongst these choices. Consider:
- How often do you spend “clicking” through the TV channels, without settling on one particular station?
- How often do you spend surfing through the web, discovering fascinating new websites and interesting trivia?
- How often do you feel the pull of Social Media, checking out others’ profiles, or narcissistically posting on your own?
Choice is everywhere. To some people and organizations it can be overwhelming and paralyzing. To others, choice may be endless opportunity and the reason for success.
Yet how do you know which product is best for your organization? Or which applicant while truly fit the role and adapt into the organization? So much choice means that we need to know what we are looking for, and why, before we begin our expedition of discovery. This is true for us as individuals, and doubly so for our organizations.
This week, look at your marketing processes more carefully. What are you currently doing to take into account the choice available in our world? Some ideas: selling globally, crowd-sourcing innovation, implementing marketing automation and CRM, implementing loyalty and membership programs.
Once you’ve identified a few opportunities around you, how might you execute them and further the success of your brand?