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Digital evolution breeds consumer power

Michelle Avenant
By Michelle Avenant, portals journalist.
Johannesburg, 24 Jul 2015

Businesses must be mindful that digital evolution affects not only business processes, but consumer mindsets and behaviour.

So said independent scenario strategist and facilitator, Chantell Illbury, yesterday during the Software AG Innovation Day in Johannesburg.

"Technology shifts the balance of power away from organisations and their leaders towards individual power," she noted. Individualisation is an increasing trend, and businesses need to consider the impacts of growing anti-establishment sentiments in combination with enhanced consumer empowerment.

In addition, technological convergence is enhancing disruptive innovation, she pointed out.

The uncertainties in the face of these unfolding consumer trends are numerous, said Illbury. In addition to shifts in consumer values, companies need to consider global changes and trends and their impacts, such as how globalisation and climate change will affect the localisation of markets, she said.

"Leadership has migrated from businesses to the consumer in an increasingly connected and complex world shaped by powerful mega-trends," Illbury said. Business leaders will, therefore, need to be authentic in dealing with an empowered consumer, and agile in dealing with increased complexity, she advised.

To prepare for a future shaped by these concerns, Illbury advised companies to show deep integrity and intellectual openness and look for new ways to cultivate loyalty both internally and externally, as well as to be willing to relinquish individual power in favour of collaborative approaches both inside and outside the organisation.

"Customers have more influence than ever before," echoed Patrick Shields, CTO at Software AG Africa. "Every one of your customers has a unique tendency or influence. Are you aware of it?", he proposed.

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