The intelligent and ambitious polymath,
, has studied consumer behaviour since he was in college. It always fascinated him how Generation X and the generations to come (now known as Millennials), has more and more buying power. Those generations and the ones to come he believes are the trend setters and the ones that can either make or break your brand or company. With the evolution of the Internet, Dr. John Song Potomac MD knows these generations have adapted the tech lifestyle as well. It may be harder for the older generations to understand because technology was not what they were brought up with. For Generation X and Millennials, it is in their blood.
Whats does this mean for companies? These two influential tech savvy generations are posting reviews and their opinions all over the Internet for everyone to see and read. Especially for online retail companies, e-commerce associations, and restaurant, online reviews can either make or break your company. Unfortunately for company owners, online reviews and commentary are the most trusted form of purchasing advice. So much so, that online reviews can influence consumers to go through with their purchasing decision or not.
For company owner like
, this means that they need to change their strategies as a company. He would like to emphasize that customers are what make a business boom. Employees are what make it run. But it cannot sprint without the boom. This means that companies need to adapt to how much buying power their markets suddenly have. Although there are many publics that can influence your company, customers, especially those that can heavily impact your sales with a tweet or online review, should become more of a priority.
The aim, according to Dr. John Song Potomac MD, of the entire value chain efforts from a company is to serve, satisfy, and surpass the expectations of consumers. This should be the new mission of companies. The most important part is surpassing what Generation X and Millennials expect. This will positively contribute to your company’s online reputation.