Computers and technology are essential
elements of modern day living. We have become so dependent one finds it hard to
imagine life without it. Consider Generation Y , born into the technical
revolution era, and never experiencing life without digital interactivity.
Here
are a few facts about Gen Y
Aged
12 –31
Approximately
80 Million, that equates to nearly 25% of the US population, twice the size of
Generation X.
Just
about all of them own a computer, cell phone and ipod. In fact undergraduate students
at Georgia Tech have been mandated since 1997
to own a computer. Technology is no longer an option, but a prerequisite. The challenge
facing many marketers is that they communicate with customers as if they are
computers.
Financial
institutions are notorious for relying on statistical modeling and consumer
profiling. While these methodologies appear to be rational (at least from an
accountants perspective),they offered little assistance to the recent global financial
meltdown which was totally out of control. This frenzy was rocket fuelled with
technology, trades and swaps changing hands in nano-seconds without the first
consideration for common sense and judgment.
If
companies treat their customers like computers, here’s what type of reaction
you can expect happens when “Computer
say No”
Frankly you
run the risk of losing them forever. While I am a great advocate for change and
advancement, I also realize that technology in and of itself cannot answer the marketer’s
strategy dilemma. So the next time you invest in technology make sure your
staff understand it’s just a tool,
no matter how smart and efficient it can operate, people are your greatest
asset, unlike a computer they have passion and care, traits technology has not
yet discovered. When combined effectively you can now begin to build a “Killer App”
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