Business and Society in a digital Age ZAA 101

WEEK 3

Rick Marton | 9:25 mins

Please watch the following clip and ask yourself the question, where do you go to get some meaningful work done, is it at the office?

Jason Fried | Why work doesn't happen at work | 15 mins

Communication

This has changed too and as long as you have a business grade internet connection (that's one with a low contention ratio that doesn't jam up in peak times when everyone else is watching Netflix) you can communicate virtually.

In fact the University of Tasmania with their sensory rooms are fantastic ways to communicate because you feel like you're with the other person.

The challenge is the quality of the product you're using, but in our business it means we can do training with our software suppliers in real time - but sadly it hasn't changed the time zone issue!

Other things have changed but so many people don't have landline phones any more and so many business people don't realise that their NBN and phone system is one and the same now - the quality of your NBN connection affects the quality of your calls.

But now with expedience in technology, consumers also have a higher expectation about how quickly you can get back to them.

Customer relations

This has shifted for a range of reasons, but mostly expectation. We as consumers are all so busy now.

We don't notice ads like we used to, and in fact Delloite's consumer media survey study showed that we've now tipped the scales where we'd prefer to pay for content that gives us content without ads on demand - think Netflix.

So if we don't have ads, we have to be much smarter in how we connect and nurture relationships with potential audiences.

I've created a term I call the Momentum Loop and it's based around understanding the buyer journey. Digital changes mean we can create simple pathways.

You know they say the first impression counts...

...strangely enough I don't think most people always remember their first impression. Their subconscious might, but often they don't.

The first impression was probably the billboard they drove past, or the item that flicked on their newsfeed, but they don't look at that impression because it isn't relevant...yet!

I liken acquiring customers and servicing customers to a relationship with a partner. Too many businesses do this: "Hi this is our name, want to get married?"

The consumer "woah no back off I'm not interested." Now the old way was to persist, but in a world where communications are now so fragmented that takes some skill and focus to recreate multiple touch points.

The best way to ensure that we turn a subconscious impression in to one that's actually noticed is referral then relevance. If a friend talks about something first you're more likely to see the billboard about it next time you drive past.

The other thing is relevance...you skim past the new type of artificial lawn they've invested on Facebook because - heck you don't have a backyard - but a few months later your friend moves in to a new place and some fake grass would be real handy - instantly you start scanning back, where did i see that? And then you start searching. It becomes a referral.

It was an impression but it just didn't make one.

The best form of marketing is word of mouth! In business we want to shape the conversation with a great experience so this is where digital media becomes critical to customer service.

Customer - you're building an authentic relationship. You have to show you care. You have to ADD VALUE to their lives.

Business to consumer

This one is relatively easy because on most fronts you're using technology to improve a person’s life by identifying a pain point or a simple improvement.

Examples are... SMS offers when you're in proximity, offers on your phone, the ability to link social media channels with customer relationship management and management systems... for example holistic customer care because data is aggregated from all forms...if I were a health fund I could know my customers favourite restaurants and aggregators would put that data in to their record.

Remarketing too... where we install a Facebook pixel on a website then when someone goes to the site, the next time they go to Facebook they'll see the page they were just on.

It should feel serendipitous! But this is all about maximising the number of touch points to move people from being a stranger to a buyer.

Business to business

This is much more logical, less emotive but more beaurocratic quite often dependent on business size. This is where technology really shakes things up such as supply chains. Businesses that go from wholesaler to the customer and they've never even touched the product!

It also allows businesses to make themselves bigger by leveraging and running strategic partnerships if they have like clients. For example über wanting to grow market in new places where it's legal could partner with Airbnb.

Customers for both don't mind cutting out the middle men, are comfy with the apps and don't mind meeting real people!

Please watch the following clip that provides an overview why start-ups succeed and provides a number of examples such as Uber, Airbnb and You Tube.

Bill Gross | The single biggest reason why startups succeed | 6.40 mins

So how can businesses compete in this digital economy where information technology is making us think differently and the fact that we need to adapt quickly to survive. The following clip illustrates how we need to change our thinking in order to thrive in the digital transformation era.

David Rogers | The Digital Transformation Playbook | 20.28 mins

Readings

Credits:

Created with images by lorenkerns - "Old phone" • StockSnap - "piccadilly circus people crowd" • perfectgrassltd - "Perfect Grass installs on a rooftop in Westminster, London" • Wokandapix - "lol laugh out loud text" • Hermann - "books education school"

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