As we approach the 4th quarter of fiscal year 2015, and soon to be at the midway point of this decade, I started to look at the predictions and indicators for internet growth by year 2020. Sounds futurist the year 2020 and I think we are starting to enter into the steeper slope of the curve now. In 2010 the internet had 1.7 billion users, today it has a little over 3.1 billion and by 2020 it should be at 5 billion. Check out the stats by country here on InternetWorldStats.com.
Forecasting the future of the internet is that hard to predict just look at what we do and ask yourself are we going to be doing any less of it. Twenty-five great points are listed in this article on Marketing in 2020 by Jeff Beer of FastCompany.com. By looking at marketing we can see the direction society is taking by observing the force trying to get in-front of the mass. Some key points I took away were virtual reality is reality, brand transparency and through technology it's about to get really personal.
Don't forget to consider the growth of the machine usage with the Internet of Things IoT. Both machine and human usage almost double in the next 5 years!
Top business-strategist Michael Wolf gave a presentation on the future of tech and media from 2016 to 2020 in the Wall Street Journal last October. I've been covering technology predictions in several articles and although there are some corrections in the stock market at the moment, there is nothing really holding the tech sector back. But, don't take my word for it, read Wolf's presentation on how consumer tech and media staged to grow by 535 Billion over the next 4 years.
You can view the presentation from the Business Insider here.
Advertising in 2018 and Beyond
With the Super Bowl Lll just around the corner, I am always interested in what 30 seconds of air time is selling for and what the best commercials will be. Last year companies spent up to 5 million to get in front of the 111 million viewers watching in the US, and then their money was gone. Advertising online has more than begun it's shift upward while other mediums, aside from radio, are sloping down. In an article on MediaPost.com The Winterberry Group states 2018 will be the year of digital media and spending will surpass all off lime marketing. In 2016 online spending surpassed television, now it's growing overall. That's because online advertising works and everyone is on all the time.
As a business owner you know you need to be online, but finding your customers in this digital ocean is the next challenge. SmartInsights.com just released a digital marketing mega-trends guide and they have several digital marketing tool kits. The article was scientific citing the effectiveness of Amazon's trial and errors as they grew. One point not expressed enough is to acquire a memorable and easy to pronounce, easy to pass along domain name. (Note: KeyInsight.com is for sale now.
Don't delay building your brand, what you put off now, will later only be more difficult and increasingly competitive to navigate.
Time to get back to business. Hope everyone had a great holiday and is ready to work. The two times a year that I take a deeper look at business trends and economic forecasts are at the end of the year and at the end of 2nd quarter. End of the year is more a reflective time for some reason, like after the game. End of 2nd quarter is like taking inventory during half time while there's still time to change the results before year end, mid game.
No one that runs their own business, or is directly responsible for one, can ever really take their mid off the game. Sure you might go on vacation and spend time with your family, but you just can't help thinking about what you have going on. Sometimes it helps to get disconnected, a fresh perspective, see from a different angle and get some rest, but successful people rarely take their eye off the ball if ever. You love what you do and you know your competition is constantly grinding. So while relaxing, I try to take a closer look at what my competition is doing right and measure what's working for me.
One of the things I do at these two points is look at the big picture. Reading through economic forecasts for different industries and countries can give you great insight to why your efforts aren't measuring up to predictions or worse, the numbers are climbing up and you have no idea why. According to The World Economic Forum, Forbes and The Balance to name a few, the economic outlook for the US is strong and set for steady growth.
No matter what business you're in, investing in yourself is never a bad choice. Educate yourself, educate your people and increase the advertising budget. Hope you are off to a great year, game on.
Drones - The Evolution of Transportation
If you read my blog you know I'm into flying cars and with traffic being what it is, they can't come about soon enough. Doesn't matter what city you live in, it's not any better anywhere else. Either too many vehicles on the road or a failing infrastructure. In this article on DailyMail.co.uk mega drones are being tested with multiple passengers, pilot-less control and with the ability to take the helm in an emergency. The aircraft technology is producing a much needed benefit for air traffic control a well as other industries.
This is an epic shift in society, like going from horse and carriage to automobiles and entrepreneurs need to plan on this trend. In less than 5 years it will be at consumer price levels and in 10 years, common place. High rises and condos need to start being built with landing pads as the new garage. With growing populations, pollution, the need for the use of alternative energies, infrastructure issues, drones and personal aircraft are a great solution to easy all of these problems. And, aside from natural disasters and terrorism, one of the biggest problems our children will face in their life time that you can be certain of is population growth.
Handling and managing all the demands on resources that population growth will bring are where the opportunities lie. If you think traffic sucks now, don't do anything about it. Everyone knows it's gotten worse in the last few years, and that's everywhere. So, forget the race to Mars, let's race to be the first country ready for the 22nd century. Embrace it. This is what will make America great!