Web Summit 2019: What Does the Future Hold?
The summit that has the whole tech industry talking.
So, you want to know where the future of the tech industry will go? It‘s a question that‘s on the lips of every business and brand worldwide. It‘s also a question that is going to redefine the tech industry as a whole, meaning that for your brand to be on top, there‘s a lot of new data to consider.
The Web Summit is one of the largest tech conferences in the world, bringing together the best minds in the industry from around the world. In Lisbon this year, 70,000 attendees, 160 countries and 1,200 speakers took part to deliver the insights and concepts that will change the world in the coming years. There was one question on everyone‘s mind: where to next?
The Future is Personalized
Devices and services are becoming more and more personalized. The way users consume technology in industries across the board is becoming tailored to their individual data. Whether this is in the form of customized AR avatars, fitness devices that are personalized to the user, or apps that suggest food deliveries based on user input data and previous orders. The way technology is used in the future will continue to become even more personalized.
Consumership vs. Ownership
It’s no secret that businesses need to focus on the needs of their consumers, but what does this really mean? Customers these days are not so materialistic but are more consumeristic. It‘s not about owning things like videos, music, books or cars, but rather it‘s about consuming these products and services through a variety of other mediums. Consider for example the rise of online streaming-services as opposed to purchasing a video to download online (or even purchasing a DVD). This extends even as far as consumers renting furniture or clothing rather than purchasing it to own themselves. To reach your future customers, your brand will need to think of ways that your product can be consumed freely, including subscription-based services, rather than creating a single unit to be owned.
‘Experience‘ is the buzzword of the future. Consumers want to have experiences they can recall later on. It‘s the difference between creating a fleeting moment and creating a lasting memory in the mind of the customer. Brands that create an environment the customer wants to be in and feels a part of, whether this is online or in real life, is the way to maintaining and growing your customer base. Brands need to think about creating movements, not monuments.
The Future is Sustainable
This goes hand-in-hand with consumers wanting to own less and experience more. Companies now need to prove to their customers that they are producing less waste and doing their part for the environment. Consumers care about the environment and expect industries to invest in a more sustainable future. Take, for instance, the example of global homeware brand IKEA, who source 50% of their wood from sustainable foresters and 100% of their cotton from internationally-set, environmentally friendly, cotton growing guidelines. The future is green, now so more than ever. If you want your brand to get ahead, start thinking about ways your company can do more for the planet.
Quality is King
We‘re bombarded with millions upon millions of content every day. Users have limitless access and decreasing attention spans – so what will it take for your brand to capture their attention? Quality content over quantity will launch your brand to the top of the chain. Consider how your content can be more authentic, original, exclusive and purposeful. This may mean extra costs, but it also means greater audience retention and conversion. If the future could speak, it would say quality over quantity.
We know, most of these points are no-brainers, but sometimes it‘s good to go back to basics. Looking at the bigger picture, instead of being stuck in daily to-do‘s, can help you to see where your brand is going. By learning how to utilize the top trends for the coming years, you‘ll also see ways technology can help your company to be better. Keep your sights set on how your users can benefit from what your brand has to offer, and you‘ll keep moving forward no matter what.