October 30, 2019
The future of business holds an exciting promise, a world where we are free from the menial operational toils of today, allowing us to focus on more bold and creative ventures. Few businesses realise how close that future is. Even fewer realise the staggering amount of innovative options available to them on this very day, from automated systems to operational optimisation to real-time consumer insights guided by artificial intelligence. And to be fair, it’s understandable.
Technology is evolving at such a rapid rate that any business owner who has to worry about the dull duties of management, finances, operational systems, etc. barely has time to keep up with these giant leaps in technological evolution. But it is exactly these advancements that will free you from tedious responsibilities, allowing you to commit your internal resources to innovation and unravelling the business landscape of the future.
In business, one of our greatest assets is a clear indication of our customer’s needs, emphasising the importance of customer intelligence. In the same vein, this is why competitor analysis is equally important. We don’t only study our competitors to see what they’re doing but also, and even more importantly, to see what they’re not doing and annexing that empty share of the market for ourselves a.k.a. identifying unfulfilled consumer needs and fulfilling it. And this is where your value lies as a company, fulfilling your audience’s needs.
Now, we can already hear the sound of business owners choking on their morning coffee as they read this next statement. But, for a moment, just relax and think about it and you’ll follow our reasoning.
It is important to understand and remind ourselves that, as a business, profit is not our only goal. Profit is the fruit we reap from satisfying our consumer’s needs. The better your product or service satisfies that need, the greater the value your product or service will hold. If your product or service does not build a bridge between your audience’s need and the total fulfilment of that need, then your dreams of profit will remain nothing but a dream.
We must also remember that, as we go through these rapid advances in technology and consumers’ needs are progressively met, new needs will arise, something referred to as the consumer’s “changing concept of value”. Customer intelligence is no longer a once-off process to be briefly revisited once in a while but a meticulous and continuous process that should take top priority.
At Shapeshift, our passion is to explore and identify how businesses can equip themselves to embrace the future. Not only can we help you create the space to focus on customer intelligence and business innovation but we can also help you identify and satisfy your customers’ deepest needs, as well as adapt your value offering according to their continuously transforming concept of value. Our solutions will ensure that you are no longer at the whim of business evolution but the catalyst for it.