Now is that time of the year where the consultants and analysts publish their trend reports again for the coming year. And as a blogger, you just pick the reports fitting to your understanding :-) Here is one: The IBM Institute for Business Value, a group of consultants within IBM focused on human capital management, financial management, corporate strategy, supply chain management and CRM, today revealed the results of a consumer survey-based study. They advise their clients to remain focused on understanding and adapting to the needs of today's empowered and informed consumers as a means of differentiation in 2009.
In 2008, the rapid proliferation of mobile devices and rise of social networking have dramatically changed consumer expectations and behaviors and have impacted the future of many industries, the press report says. Consumers are in more control than ever before, and through the use of these tools, can easily rally fellow consumers to demand products and services that are tailored to them and improve their lives.
Further evidence of this growing consumer control point was noted in IBM's Global CEO Study, the largest study of chief executives ever conducted. CEOs pointed specifically to their own customer base as the source of the most important changes they will have to address, as two new and more demanding classes of customers emerged: the 'information omnivore,' and the 'socially-minded' customer.
Overall CEOs are planning a 22 percent increase in investments in the next three years to serve these more sophisticated and demanding customers. CEOs in the U.S., Europe and China indicated they plan an average investment jump of 19 percent at these targeted customers over the next three years.
"Consumers are becoming 'producers,' often creating entertainment and advertising content for their peers while demanding flexibility and responsiveness from companies with whom they choose to do business. These customers are more demanding; however, the majority of CEOs do not see them as a threat, but as an opportunity for differentiation -- based on meeting the heightened expectations of this group, and capitalizing on new market opportunities that will emerge," said Peter Korsten, Global Leader, IBM Institute for Business Value. "Dealing with this new breed of consumer in the midst of a whole new economic environment will play a major role in companies' agendas for the foreseeable future."
So for anyone interested in customer-centric strategies, this is good news: In 2009, our topics still have value beyond (or because of) the general financial crisis.
Context: Read the full press release by IBM with links to the individual studies.
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