What is the future of business?

By: Ron Immink

Date: 28 May 2013

What is the future of business?/future business{{}}Brian Solis is the author of Engage and The end of business as usual. In my view, he is one of the best in social media and marketing. His latest book— What’s the future of business (#WTF ) — is an extension of his first two books and it expands on the constant feedback loop or what he now calls the experience loop or Dynamic Customer Journey (DCJ).

The experience

There is an unforgiving technology revolution, which is raising customer expectation to new heights. In the future, everything is experience. Not an experience, the experience.

Total recall

The future is total recall. Your brand is the sum of the experiences. For an average purchase, ten sources (mostly online) are checked. Customer feedback is the most prominent source. Every experience is logged, communicated and shared by Generation C — the connected generation — not as a demographic, but as a way of life. How are they talking about your business?

Generation C sharing everything

Generation C will share their experiences on a wide range of channels and media. So you will need to engage. Engage across all those channels and along the dynamic customer journey. Within that there are what Solis calls “moments of truth”; not only when customers are buying but also when they decide that they are happy or not happy with the buy and during the period when they are using the product or service. In the future, the medium is not only the message, the medium is the experience.

Brand is everything

The always-on moment of truth platform is your brand. That is where the marketers need to focus. Which makes #WTF a marketing book, not a social media book and in some ways is very similar to “The old rules of marketing are dead”.

Marketing is back

We give marketers a lot of stick. A lot of them are useless. New marketers need to walk in the shoes of generation C and map out the experience loop across all technology, across all the communication channels, across all touch points. They need to embrace the new metrics — loyalty, positive endorsement, advocacy, reviews and referrals — and engage with their audience.

The dynamic customer journey must be consistent with the brand you want to project.

Chief experience officer

If you follow Solis’s advice you will still be the CEO, but also now the Chief Experience Officer. If not, you might be the Chief Executive Officer of a dying business.

Ron Immink is the CEO and co-founder of Small Business Can and Book Buzz — the website devoted to business books.