Contemporary organizations swim in an environment flooded with technology. Embracing the right technology at the right time can create a powerful advantage over competitors. It should be a central part of your organization’s strategy.

An effective strategy enables you to better service the existing needs and desires of current customers, as well as preparing to meet those that will unfold over the next five years and beyond.

Technology plays an important part in providing what people want, when they want it, andhow they obtain it. These three factors are the basis for building an organizational strategy for technology.

Look at your current clients

Consider how they have changed over recent years. Which products show increasing demand? Which decreasing? Are customers changing the way they access your products?

If trends aren’t clear, use technology to survey representative samples from every client group. You will learn what, when and how you must offer your products and the role technology can play.  Online technology may only be one part.

Look at your future clients

Seek to understand factors that will underpin the key trends for future clients. What will unfold over the next five years?

Demographics

Our aging population will change their what, when and how factors. Determine those factors that may influence future behavior of your customers. For example, a retailer can project what will interest core customers in the future, by looking at what people who are five to ten years older are buying today. Geography, timing and technology may influence where customers shop.

Social trends

Consider how attitudes about what you provide may change. Attitudes about health, the environment, and shopping change.

Unfolding technologies

People will change the way they interact, and the way they access goods and services. Look for both the technology that will be in your clients’ hands and what you can use to serve them better.

Competitive trends

Examine ways in which others are working with existing and potential customers. How are your competitors using technology to attract and serve clients like yours?

When you see where your current and potential customers are going to be in the future, you can begin to act. Determine the most effective technologies and embrace them with confidence.

In today’s sea of commerce, selecting the right technology makes the difference between whether your organization will sink or swim.

If you’ve enjoyed this article, subscribe to our newsletter or follow us on Twitter, LinkedIn orFacebook.