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The consumer revolution is in progress. Do you know what part you play in it?
Do you realize that “digital Darwinism” (when society and technology evolve faster than a company’s ability to adapt) is a threat to each and every business (including yours)?
Whether you’re a marketer, a business professional or an entrepreneur, it is your job to figure out why consumers connect and how their social conversations influence your brand.
Good examples of the effects of digital Darwinism are Blockbuster, Borders and Circuit City. When Blockbuster filed for bankruptcy in 2010, analysts acknowledged that its predicament had more to do with the drastic shift in “how people watch video” than with their financial issues.
Blockbuster made the mistake of showing indifference to their customers’ collective experiences and refusing to adapt to their needs.
Meanwhile, Netflix was already embracing the culture of innovation and turning home video into a delightful experience. Best of all, there were no strings attached, no late fees or due dates.
The moral of the story is that when businesses underestimate the power of the connected consumer or mistakenly presume to have control of the brand, it’s only a matter of time before “the end of business as usual.”