Can We Afford Not To Blog? ( I )

In the past, we are able to compete on the basis of achieving mastery of a specific domain knowledge. And we move up the value-added ladder, getting higher pay, enjoying a higher standard of living. Just as we think we can do no wrong, we notice that behind us are 2 billion people with the same aspirations, and are rapidly catching up.

It soon dawn on us, at least for some, that not only do we need to deliver quality products and or services, we need also to master the technology to deliver our domain knowledge on a timely and accurate basis. For some of us, this is already a challenge. And I am not referring to the 40-something. This is also happening for graduates entering the job market. Why is this so?

For one, we have a legacy carried forward from the brick-and-mortar era - where the most effective form of competitive strategy is to erect entry barriers e.g. building skyscrapers, creating regulations, licensing etc and for that we have been extremely successful.

The downside is that with a captive audience, producers have little incentive to fulfill unmet needs in the marketplace. Instead they seek to maximise profits by playing the efficiency card i.e. customers can have all the choices of color that they want provided it is black. For a long while, it worked. However, with technological advances, globalisation is now a reality, and the bottom-line is that consumers are empowered with choices.

What are the implications? The first thing to hit us is a proliferation of choices. Producers that understand the needs best will win market share and more importantly a share of the wallet. Now to win over the customers, we realise that we must remain relevant to the customers. How to be relevant?

There are many ways. You can cut your price - especially when you have not been delivering value all this while. If only it is that easy. If you can maintain the same level of service and maintain profit margin, then there is little cause for concern. However, for the majority, it will be a challenge! Consumers are discerning, and they do not necessarily shop on the basis of price only. What they want is for some one to fulfil their unmet needs.

It is a race against time for us to identify and articulate those unmet needs. As captain of the boat, you need to communicate effectively to the crew on how best to execute the manoeurve - with perfect timing and coordination. Changing tack with a stiff headwind is no easy task. The crew must be well trained, and be prepared to take risks in order to ride out the waves.

So it is no wonder that companies in industries that are facing challenging times are probably the first to adopt blogging. e.g. General Motors,
Microsoft, IBM


Next: Reasons To Blog

Keywords: blog, domain knowledge, technology, competitive strategy