Last week I saw a graphic which was similar to this one and simply indicated how much time a digital CEO should be dedicated to content consumption vs. creation. I guess my version is a bit more extreme than the one that I saw but the message is clear: as a digital entrepreneur you have to make sure that most of your time consists of creation instead of consumption. And I must admit that this is harder than it might sound. Every day I come across tons of really great content which I want to properly save to come back to it later. For example, I subscribe to lots of newsletters and receive tons of free pdf downloads which I love because I always think that I get delivered value which I can use for my own blog postings, videos or workshops. But the problem is that this information has no end. I could scroll through the internet for decades and would still find content that seems awesome and really necessary.
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In the 2000s, with more and more Internet users and the birth of iPhone, customers started searching products and making decisions about their needs online first, instead of consulting a salesperson, which created a new problem for the marketing department of a company. In addition, a survey in 2000 in the United Kingdom found that most retailers had not registered their own domain address. These problems made marketers find the digital ways for market development.
This system may have worked during the peak of the Industrial Age, but today developed economies are moving away from industrialization and toward a more fluid, innovation-based economy. In this new economy a different set of entrepreneurial skills are need to thrive: namely critical thinking, persistence, adaptability, creativity and initiative. These are now the most important indicators of success in the 21st century economy. Fortunately, we can train and improve our skills in all of these areas.
Using an omni-channel strategy is becoming increasingly important for enterprises who must adapt to the changing expectations of consumers who want ever-more sophisticated offerings throughout the purchasing journey. Retailers are increasingly focusing on their online presence, including online shops that operate alongside existing store-based outlets. The "endless aisle" within the retail space can lead consumers to purchase products online that fit their needs while retailers do not have to carry the inventory within the physical location of the store. Solely Internet-based retailers are also entering the market; some are establishing corresponding store-based outlets to provide personal services, professional help, and tangible experiences with their products.
As mentioned earlier, technology and the internet allows for 24 hours a day, 7 days a week service for customers as well as enabling them to shop online at any hour of that day or night, not just when the shops are over and across the whole world. This is a huge advantage for retailers to use it and direct customers from the store to its online store. It has also opened up an opportunity for companies to only be online based rather than having an outlet or store due to the popularity and capabilities of digital marketing.
In February 2000, Amazon announced that it had been granted a patent on components of an affiliate program. The patent application was submitted in June 1997, which predates most affiliate programs, but not PC Flowers & Gifts.com (October 1994), AutoWeb.com (October 1995), Kbkids.com/BrainPlay.com (January 1996), EPage (April 1996), and several others.