Tuesday, July 26, 2011

What The Digital Shift Means to Your Business

A few years ago I was doing speaking engagements on the subject of Social Media and inviting people to "Join the Conversation".

Despite the insistence of some of my current co-workers that Social Media is not new, and that they were using electronic bulletin boards back in the 1990's, we are now in a new age of Social Media.

The difference is it has moved from the tech-geek to mainstream.

Just a couple of days ago I read a tweet about 3 generations in one family are all on Twitter, Facebook and now Google+.

The shift from traditional, old school sources of information, entertainment and communication to digital is having an effect on businesses because your customers are shifting to digital.

What is Traditional & Old School? Here's a few examples:

The Daily Hometown Newspaper. This was the way to get all the in-depth information on everything current from the previous 24 hours. The Sunday Classified section was where they made lots and lots of money do to the help wanted sections and full page automotive ads.

The Phone Book. Now we Google it.

The Evening TV News. CNN and the other 24 hour networks made the ABC, NBC & CBS nightly broadcast unnecessary.

Music Radio Stations. I hate to say this but unless a radio station is providing local content that you cannot get elsewhere, there is no need for many of them to exist. And I worked in that business since I was 16.

Some of these Traditional, Old School sources will adapt, reorganize and survive, if they get their business model organized to stay profitable.

And some will stay strong for years to come do to external factors which include:

Generational habits: Face it, some folks prefer not to change. My Mom (who passed away in 2001); preferred to give her credit card number to a stranger over the phone to place an order, than trust the "internet-web-thing". I wonder if she were alive now, if she would have changed.

Technology changes: I wonder if there is some secret pact between car makers and radio broadcasters to always include a radio in every vehicle that is sold. I believe that is a primary reason for the survival of radio broadcasting. However, with the inclusion of web access in newer vehicles, this could signal the end. It will take years however due to the number of older cars that dominate our roads.

How is your business involved in this shift?

By the way, click here for a study with more info.

The words of Scott Howard aka ScLoHo

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