Over the course of the next 5 to 10 years, we are expecting to see the peak of inflated expectations. New tech developments such as apps, Google glasses and 3d printing are moving very fast. The only way for companies to survive these changes is to hop on the train so to speak. The main reason for this is the fact that customers continuously go for the newest technologies. More importantly, it is imperative for companies to focus on ever-changing customer needs, which sometimes require investments on their behalf. Within all of this, we also see the rise of C2C initiatives rising fast to the surface. As a result, such start-ups are able to meet customer needs much quicker, since they come from the customers themselves so to speak. This is no different in the taxi industry for example. The rise of new platforms is quickly diminishing the revenues of age-old taxi companies in various countries.
So how do we truly serve future customers then in this ever-changing landscape?
First point of focus: Ultimate Customer Focus – This is the most important factor. It goes beyond being nice to customers. Some argue that it actually requires you to want to be part of your customers’ life. Hence, an important question here is to ask yourself when you would like to be the ambassador of your brand. There are loads of ways that can help you achieve this, however people often think it is mainly about getting sales. A big company like Google might engage in extra expenditures, but this leads to more sales by the end of it since the activities derived from this were better for the customer.
The second point is to Embrace New Technologies. The world is always changing, and ability along with speed to adapt is key.
Third point: making use of Touch Points. As mentioned before, it is best to engage the customer in such a way that you become part of her life.
Fourth point: think big! Go international. Having a home market is good, but if your taxi company is ever going to be successful it is best to focus on an international market.
Fifth point: Business Modelling. Continue to develop new business models as things change. It is imperative for you and your company to not be complacent with current success.
So remember, be flexible and adapt to the changing environment that new technologies bring with them.