Emerging Customer Demand Patterns
How do you prepare for the future when you don’t know what’s going to happen tomorrow? I stopped for a moment and tried to get to the inevitable core of what is driving the change — in order to be better prepared for the possible versions of what is coming (this is just a personal reflection — who knows what’s going on in the future..).
At the root of what we are experiencing now is a fundamental change in human behavior and demand. Driven forth by slow societal change (e.g. higher education, increased life longevity or social complexity) accelerated by exponential growth in technology.
These are the three demand patterns that I personally have noted as of high importance to our organizations:
VALUE — What customers find valuable to pay for is changing. We are moving away from being able to charge a premium for access and simplicity. Now the premium is for identity. And individualization of services is opening massive new markets.
MUTATION — Technology is changing consumer behavior due to a mutation of processes (e.g. SMS and payments become the same process)
NETWORKS — People organize in multiple immediate networks, lasting from seconds to months or years. These networks are distributed, they don’t have a plan and only react when input hits them. Companies provide the input variables.
This opens the opportunity for a new chapter of capitalism in which wealth will be created by new business practices and business models.
Further reading: Creating Value In the Age Of Distributed Capitalism, Shoshana Zuboff