Who's your future customer?

Who is your future customer?

We experience disruption with new technology and industry changes. However, demographic and customer expectations are fundamental driving forces in challenging how things are done. 

Demographic change is a good indicator of who your future customer could be. You can look at age composition, income, education. However, the ethnic composition of the future population is one factor that sometimes becomes an afterthought. 

What makes demographic shifts so rewarding is that it brings innovation and growth opportunities that will impact society and the economy.

For instance, the US Census has projected that Latinos will reach 111 million by 2060, becoming 28% of the population. That means that soon it will be one in three people who could be a future customer. However, 70% of Latinos say brands don’t understand their culture, a 59% increase from a year ago, according to H Code. 

Why does understanding their culture matter? 

Because culture matters to tell authentic stories and to create remarkable experiences. People don’t care about you unless you care about them. They look at content through their personal lens of values, knowledge, experiences, attitudes, and beliefs. And if you cannot meet them where they are, cannot see their worldview, and provide a solution that fits them, you run the chance to become irrelevant.   

The implication is that addressing a new population segment rarely fits the way you currently do things. It will require you to see things differently, look at your current capabilities, identify your key and future customers’ challenges, and deciding what you need to do to serve them.

Show Gratitude

Show Your Gratitude

When I came to the United States, Thanksgiving was a new holiday for me. Although I could not identify with the history, the essence of the celebration resonated with me. Every year we got together with family and friends to prepare a mix of Mexican, Peruvian, and American dishes. A time to relax, eat, joke, drink, and be grateful for what we have.

Like many holidays, we tend to highlight one day to express it and celebrate. And then we go with our daily life and miss many opportunities to be grateful. A recent survey of the John Temple Foundation found that we are not very good at expressing gratitude and that America’s gratitude is declining.

Showing gratitude is an act of generosity. And one day a year, we get together to celebrate and show our appreciation to others. I invite you to celebrate it fifty-two times a year, one day per week.  

Sharing is Caring

One day per week, share your gratitude to people who have to help you on your journey. Reach out and let them know how they have influenced you, help you grow, get unstuck, and or supported you. 

Seven Ways to Show Gratitude

There are many ways to show you care. Here are seven ways to get you going. 

  • Act without rewards 
  • Give something to someone for no reason at all. 
  • Be present 
  • Show them they are in your mind. 
  • Be generous with your knowledge, time, and experience. 
  • Use your power 

A Thought About Power

Power isn’t a function of status or hierarchy. Power isn’t a tool for self-enhancement or for forcing compliance. Power is how you show up and how you play in someone else’s story.

Be grateful for what you have. And generous enough to use your power to help others. 

May the goods in life be yours in abundance that stays with you year long. 

Unconver Inspiration

Strategy: Uncover Inspiration

Thanksgiving reminds to be grateful for all the good things we have and the abundance in our lives. It also reminds us about 3 reflecting questions for 2019.

After the dinner is over and guests are leaving, we start planning what to do with the leftovers – preparing guests’ take home plates, what to keep, what to throwaway, and different dishes for the coming days.

In a similar manner, we can ask 3 strategic questions to prepare for 2019:

  • What to keep or what to continue doing
  • What to get rid off or what to stop doing
  • What to do different

As important as feeling grateful, it is also important to lay out the groundwork to fuel opportunities in 2019. Take December to reflect on this past year and think how you will make 2019 a remarkable and impactful one.