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.
- Over 40% of the companies that were at the top of the Fortune 500 in 2000 were no longer there.
- In 2014 there are more mobile-connected devices than there are people on earth. (Source: Cisco 2013)
- Facebook has more than 1 Billion network users.
- Typical mobile users check there phone 150 times per day. (Source: Meeker’s Internet Trends, 2013)
- 90% of all internet traffic in 2017 will be video. (Source: Cisco)
- The amount of data stored is doubling every 18 months. (Source: IDC, Aberdeen)
- 73% of people wouldn’t care if the brands they used disappeared from their lives. (Source: Co.Exist)
- Globally, more people trust regular employees to tell the truth than CEOs (50% vs. 43%). (Source: Edelman Trust Barometer, 2013)
- Newspapers have lost $40 Billion in advertising revenue since 2000. (Source: Newspaper Association of America)
- 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)
- 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)
- 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)
- It takes 12 positive experiences to make up for one unresolved negative experience. (Source: HelpScout)
- 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)
- There are 1.5 Billion smartphone users vs. 5 Billion mobile users worldwide. (Source: Meeker’s Internet Trends, 2013)
- Tablet growth is more rapid than smartphones (3x iPhone growth). (Source: Meeker’s Internet Trends, 2013)
- 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)
- 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)
- 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)
- 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)
- 70% of buying experiences are based on how the customer feels he or she is being treated. (Source: McKinsey)
- 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)
- On average, loyal customers are worth up to 10x as much as their first purchase. (Source: White House Office of Consumer Affairs)
- 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.
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