Focus on consumer behavior as you navigate new technology, and notice the point of 'disruption' created by companies such as Apple, Uber, LinkedIn and Air BnB. That was the key piece of advice given to a room full of produce industry executives and marketers by Morning Show Futurist and expert on digital disruption, Chris Riddell. Even those in primary industry need to foster a digital culture, according to him. "Digital culture is a thread that must run through every business," he told a packed room during the first presentation at the PMA A-NZ Fresh Connections 2015 conference day.
Capturing themes relevant to growers, producers, retailers and marketers, and those recruiting talent to the industry, Mr Riddell's presentation focused on how what he called the 'consumerisation of technology' has flipped the role of the customer and given the individual the upper hand when it comes to accessing and taking advantage of new technology. "We can buy for ourselves technology that is bigger and better than what companies can provide for us," he said. He also described three key trends for those in the industry to utilise: The future consumer, the hybrid online/offline customer experience, and data driven decisions. The megatrends of ‘superfluidity’ and faster flow of information, as well as the acceleration of networks across the globe, were the background for the new environment he described.
Simplicity is the new perfection: the Gen Z consumer
Mr Riddell also gave a highly entertaining snapshot of what the next generation of consumer will care about. He pointed out that they are prioritizing technology and experiences over more traditional concerns, and they will be interested in a hybrid online/offline experience.
Attracting talent to the industry will also be a ‘very very different ballgame,’ according to Mr Riddell, where Generation Z (those born after 1995) are more concerned about access to social media platforms than their leave days or superannuation fund. “It still worries me when I hear that businesses have blocked access to social media platforms, because what you’re fundamentally doing is blocking any talent from coming into your business.” Talented employees are interested in how they can stay engaged every day, he said. “This is a war on talent, make no mistake about it. There is more choice for the generation coming through now than they’ve ever had before.”
The hybrid customer experience
Digital natives, as Generation Z are known, will be central to the drive to put the customer at the heart of everything, according to Mr Riddell. They will also be demanding an exceptional customer experience, seamlessly integrated with their everyday life. He went on to describe case studies of companies who do this well creating an ultimate customer experience, including Air BnB and Apple.
Mr Riddell was quite clear in stating that brand engagement will matter more and more to the current generation. He also told the audience that twitter is the fastest growing platform for social media, and that users are three times more likely to engage on twitter than on facebook. Mobile usage and using social media as a way of crowd sourcing funding and information were key opportunities he identified for companies and brands looking to make an impression on younger, digital consumers.
Data driven decisions
Data driven decisions will be key to the future consumer, Mr Riddell told the audience. “Data is the new oil. We need to find it, mine it and refine it,” he said. “LinkedIn, for example, LinkedIn knows more about your business and your competitors than you do. They know where you’re hiring staff from, where your staff is leaving. They know what you’re doing for real within your business. They know this at the flick of a button and they sell this data.”
Mr Riddell reinforced the point that the businesses who are best poised for the new technology landscape will be able to weather Volatility, Uncertainty, Complexity and Ambiguity – or what he called VUCA. He finished by saying that it was important to understand the point where industry was being disrupted by new technology and methods. "If you don't notice the point of disruption, you've gone out of business. If you notice it and do something about it, you remain competitive. If you notice it early, you'll get ahead of the curve," he concluded.