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Dr. Lalia RachProfessor and Dean Emeritus, Tisch Center New York University
Partner, Rach [email protected]
Understanding the Revised Rules of
Engagement
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
It's your future...Decision point
One of the bunch or open to CHANGE?
“Vuja de is looking at a familiar situation (an
industry you’ve worked in for decades) as if you’ve
never seen it before...with that fresh perspective,
develop a distinctive point of view on the future.”
William C. Taylor, cofounder Fast Company Magazine
Rethinking Your Business Model
20th Century Structured selling activity Vendor relationship dominated Order takers Controlled information Goal was transaction Passive Marketing
21st CenturyDominate focus -- Client
Transparent, unlimited information Interactive CommunicationCollaborative buying experience Goal is creating believers
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
Post Recession Reality
The Global Economy...Reset and RevolvedTechnology...Resized and RepurposedConsumers...Renewed and Reengaged
Global, National, Local
2011: Economy...Reset and Revolved
Uncertainty Dominates
Source: dismalscientist.com
Source: dismalscientist.com
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
Prices are giving us gas!
Automotive Gas Costs$/gallon
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
Rising Expectations Technology...Resized and Repurposed
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
It’s a Nanosecond World
Escalating transfer of expectations due to constant technology innovation
Expectation My Way 24/7!
“If you want to influence me, be in a conversation & dialog
with me in person, online, wherever I go”
J. Owyang, Altimeter Group
Expectation: Targeted Information
600,000,000 people on Facebook~1 of 12 people globally (www.facebakers for mashable.com)
23M minutes per day browsing (www.mashable.com)
#1 brand page created by customers
Augmented Reality Beyond MobileLayar.com
Sixth Sense ComputingMIT Media Lab
Expectations Consumers...Reengaged
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
Impact of Recession
Temporary vs. Permanent
TemporaryInward focus
Measuring want vs. needLuxe -- a four-letter word
PermanentComparison shopping
Trust issuesGenerational Shift
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
Clash of the TitansGrey Matter vs. Emerging Adults
‣ Boomers won’t give up position.
‣ Millennials expect your attention.
BoomersMore determined than ever
Looking for❖ Recognition of their value and mindset
❖ Knowledge not stuff
❖ Ease
❖ Collaboration
❖ Multiple platforms for connection
47 to 65 years of age~ 78 million36% U.S. Adults38% earn $75,000+
Clients you have counted on for decadesMoving into a different lifestagePeak earning year 54
Boomers turn 65! 3-‐4 million per year for next 2 decades
Millennials
‣Decision-‐makers as kids
‣Vast Experiences‣Players‣We have changed to fit them
✓ 17 to 30 years of age
✓ ~73 million
✓ 19% U.S. Adults
✓ 18% earn $75,000+
‣ >7/10 are adults
‣ >8/10 look at phone after opening eyes in the a.m.
‣ MOST Generation: education, diverse, global, connected, socially conscious
‣ Different: like their parents, marriage is for later in life
From ‘whatever’ to ‘sweet’
Need to be invited! Need to know why they need you!
2011: Challenges and Realities
#2 Find and keep quality staff
#1 Do even more with much less
#4 Maintain and expand Loyalty
#3 Revise your price-VALUE offer
Dr. Lalia Rach, Rach Enterprises Motivational Strategist, Speaker and Advisor [email protected]
Thank youQuestions?
