24 Facts about Business

In this article, I have gathered 24 facts that represent the changes taking place in the world today. Some of these may impact on your own business and its thinking and strategies.

  1. Over 40% of the companies that were at the top of the Fortune 500 in 2000 were no longer there.
  2. In 2014 there are more mobile-connected devices than there are people on earth. (Source: Cisco 2013)
  3. Facebook has more than 1 Billion network users.
  4. Typical mobile users check there phone 150 times per day. (Source: Meeker’s Internet Trends, 2013)
  5. 90% of all internet traffic in 2017 will be video. (Source: Cisco)
  6. The amount of data stored is doubling every 18 months. (Source: IDC, Aberdeen)
  7. 73% of people wouldn’t care if the brands they used disappeared from their lives. (Source: Co.Exist)
  8. Globally, more people trust regular employees to tell the truth than CEOs (50% vs. 43%). (Source: Edelman Trust Barometer, 2013)
  9. Newspapers have lost $40 Billion in advertising revenue since 2000. (Source: Newspaper Association of America)
  10. More than 70% of customers surveyed believe small businesses understand their customers better than large companies, know their business/ product better than large companies, provide a more personal customer experience than large companies and “are more concerned about my needs than larger companies.” (Source: American Express Global Customer Service Barometer 2012)
  11. Generation Y will form 75% of the workforce by 2025 and are actively shaping corporate culture and expectations. Only 11% define having a lot of money as a definition of success. (Source: Brian Solis Future of Business 2013)
  12. It is 6 to 7 times more expensive to acquire new customers than it is to keep a current one. (Source: White House Office of Consumer Affairs)
  13. It takes 12 positive experiences to make up for one unresolved negative experience. (Source: HelpScout)
  14. 80% of the top global internet sites are US based, while 81% of the global internet population is non-US. (Source: Meeker’s Internet Trends, 2013)
  15. There are 1.5 Billion smartphone users vs. 5 Billion mobile users worldwide. (Source: Meeker’s Internet Trends, 2013)
  16. Tablet growth is more rapid than smartphones (3x iPhone growth). (Source: Meeker’s Internet Trends, 2013)
  17. 60% of US consumers agree, “Technology has made us feel more connected” while 40% agree, “Technology has made us feel more isolated from each other.”  (Source: Yankelovich Monitor)
  18. Small and mid-size businesses account for over 99% of all businesses in developed economies and 40-70% of value added in the economy (*but are least likely to sell online). (Source: OECD Electronic and Mobile Commerce, 2013)
  19. Millennials believe that other consumers care more about their shopping experiences than companies do – that’s why they share their opinions online. (Source: OECD Electronic and Mobile Commerce, 2013)
  20. 87% of global consumers believe business should place at least equal emphasis on social interests as business interests, and “purpose” has increased as a purchase trigger by 26% since 2008. (Source: Edelman Trust Barometer, 2013)
  21. 70% of buying experiences are based on how the customer feels he or she is being treated. (Source: McKinsey)
  22. 90% of customers don’t return after a poor experience. On average, dissatisfied customers share their dissatisfaction with 9 other people. These 9 people tell 5 other people on average. One disgruntled customer can poison the mind of 45 other people. (Source: White House Office of Consumer Affairs)
  23. On average, loyal customers are worth up to 10x as much as their first purchase. (Source: White House Office of Consumer Affairs)
  24. 80% of big companies described themselves as delivering “superior” service, but only 8% of customers say they’ve experiences “superior” service from these companies. (Source: The New Yorker)

“The most effective way to manage change is to create it.” – Peter Druker

John Lloyd is a business growth strategist, award-winning marketer, speaker, trainer, columnist and author of the book Smart Thinking for Crazy Times.     

Visit John at www.brandstorm.co.za and subscribe to his free newsletter.

Do you need a speaker who will educate and inspire at your next industry conference or a trusted advisor who will increase profits, multiply sales and magnify marketplace positioning?                                                      

Contact John today – john@brandstorm.co.za

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