GALT Consulting LLC

If you are in doubt that we are entering into a completely "new economy", consider the changes in the way we are communicating today.  Specifically, let's consider broadcast TV.  I predict the end of broadcast television as we know it by the end of this upcoming decade.

As a proud member of Generation X, this would seem like a staggering prediction 15 years ago when families would change their schedule around what was to be showing on television that night.  Yes, we had VCR's, and they got used, but as a whole, people know what night their favorite shows were on. 

Then the DVR came into existence.  Now we record programs much more easily (no more "is this tape empty?").  In fact, many DVR's find shows it "thinks" we would like and records them just in case.  As software and hardware technology shifts the control of the entertainment center from the airwaves to the PC, we have the increasing ability to watch what we want to watch, when we want to watch it, where we want to watch it. 

Have you considered the impact on this with your business and the economy?  Not long ago, companies could launch high dollar ad campaigns to win over the consumer because almost everyone was watching.  GoDaddy and Pepsi used extensive marketing campaigns during the Super Bowl to win over consumers.  This year, Pepsi is not even going to advertise during the Super Bowl.

The impact is huge.  It means that small businesses can have a louder message to consumers.  My friend and communications expert, Matthew Block, points out that the communications model for the world is actually regressing.  100 years ago, people did business within their village based on personal relationships.  Then broadcast media and newspapers shifted us to a brand society where we focused on the loudest and most creative message.  Today, we are going back to the village, but this time our village is much bigger and not based geographic location.  The internet and the wide spread use of social media and cellphones have created virtual villages. 

This is truly a New Economy.  As you plan for 2010 and beyond, consider the impact the market will have on your business and impact you want your business to have on the market!