I remember back to the year 2000. Not long out of college, I was building wireless fiber networks across the country. My job was created by a need to build greater network infrastructure to handle the emerging increase in business activity on the internet. The internet revolution was beginning to take hold but for me it still didn’t feel all that transformative. The way we marketed and interacted with companies was still dominated by traditional methods….TV, radio, print and outdoor. This dynamic remained true until new technologies and services formed and matured around the internet like Google, smart phones, and Facebook to name a few.
Fast forward to today…..we are experiencing the emergence and convergence of the major forces that are creating the true internet revolution…. The convergence of social, mobile and cloud technologies. These phenomena are coming together in a way that is transforming the way we do business and it is only just beginning.
Social Media is allowing people to truly share and communicate on an equal basis with companies because the platforms and access social media utilizes are equal in both communication and size. This dynamic makes marketing more of a relationship than ever before with consumers having a much influence. Companies are forced to deal with this new dynamic to succeed.
Mobile Technology is putting the power of the internet in the palm of every consumer’s hand. The ramifications of this phenomenon are both exciting and scary for every single business and consumer in the world. Think of the industries that have been made almost obsolete by the emergence of the smart phone….cameras, GPS, CD’s….and that list is only growing! Simply put, the way we research, market, purchase, and consume products is radically different then it was just 5 years ago. Spending on digital marketing by US companies is rising at the same rate spending on traditional media is falling.
Cloud Technology is equally disruptive, especially when considered in tandem with mobile technologies. Now, not only do we have the power of the internet in the palm of our hands but also the computing and processing power of massive computers. In terms of business and marketing, the cloud empowers individuals and consumers to compete on a much more equal basis with larger entities such as governments and corporations. The ideas, products and services emerging from the cloud will be tremendous opportunities for companies seeking better communication and collaboration with employees, vendors and customers.
In conclusion, accept, embrace and evolve….. the opportunity for entrepreneurialism and innovation has never been greater.