Megatrends already at play: Evidence from the Middle East

During the last couple of months of last year- 2010 - we evaluated the key megatrends that will have a significant impact on future societies and businesses. What we are seeing at the moment across the Middle East appears to be a reflection of many of these ‘trends’.

Over the past month and a half, we have seen revolts in Egypt, Tunisia and Libya; young students and professionals demonstrating, in some cases with arms, against what they perceive as an oppressive regime. The increased connectivity of the region coupled with an educated youth faced with unemployment rates of close to 30% has been driving force behind the demonstrations and echoes the ‘trends’ we discussed in our previous blogs.

The unrest in the Middle East has also clearly impacted the price of oil and it raises questions once again about our dependence on fossil fuels and how we ought to continue our focus to find more sustainable energies if we don’t want to be held to ransom by a volatile region.

It is fair to say that the ‘megatrends’ of the next 5 to ten years are evidently a reality now and the events in the Middle East are good example of them at play.

Trends that are shaping the World – part 5

This week I want to consider the term interconnectivity and what does it mean. Business Dictionary.com provides this definition : “(Inter)connectivity is a measure of the extent to which the components of a network are connected to one another and the ease (speed) with which they can ‘converse’”. Current technology enables people and businesses alike to interact at an increasingly faster pace. Also the number of ways or channels companies can interact is growing. Social media networks are now a hotbed for businesses to drive positive marketing messages.

Many companies join these networks and make their own page in order to create word-of-mouth publicity to drive positive messages. A McKinsey study on “Unlocking the elusive potential of social networks” suggests making those people, who create positive word-of-mouth advertisement, seem important in their own network. The reasoning behind this is that recognition by your peers is a strong motivator. If this recognition is then publicised, this translates into strong word-of-mouth advertising. The study implies that this can be attained by issuing achievement badges that users can post on their profiles or by implementing an achievement table in which varying scores can be posted.

I believe that the most effective way for companies to use public media networks is to create their own profile on the websites and interact with interested members. New products and new promotions can be publicised on that page, questions can be answered and marketers can even engage with unsatisfied customers, preventing them from expressing negative publicity. Word of warning: Once you open up to a wide audience, be prepared for wide scrutiny.