You may remember Louis Patler co-authored a book called, If it ain’t Broke…Break it!. His most recent book, TrendSmart, offers the top 10 business trends for 2004:
- Best customers get the best services.
- Customer retention is emphasized over customer acquisition.
- Crossover loyalty, ie., shopping at upscale and discount stores.
- Businesses recognize value of workers who previously didn’t get enough attention.
- Lateral moves keeps workers enthusiastic about their jobs.
- Renewed emphasis on management skills, not leadership skills.
- Intergenerational conflict resolution becomes a priority.
- Renewal and balance emphasized to offset burnout.
- Deferred maintenance no longer deferred, and upgrades become a priority.
- Beginning of “The 3G” workforce: Three generations of workers with three different work ethics.
AJ, Nice post about business trends. Re customer retention, it costs far less to keep a customer who can be “farmed” for new business than it does to acquire a new one. I wish more businesses would wise up to that fact.
Yes Anita, I too see that over and over– Companies spending a lot of money on marketing, listing, mailing, scavenging for new customers. If they would just go to their existing customers and say, “Did you know we do this and this and can help you by…?” for minimal costs, they would be much farther ahead. Thanks for your comments,
-aj-