Understanding—and managing—five disruptive forces that will sweep the speaking industry in the coming decade.
A turbulent and uncertain decade lies ahead. Emerging from the recession of the past few years shows evidence of more than just an economic crisis—political, social, corporate and personal norms have been irrevocably altered. People in many industries are starting to say they hope things will “get back to normal” soon.
That isn’t going to happen.
The changes will affect every client or potential client at some level, and for that reason alone it is worth pausing to consider the new realities of work. Of course, the forces reshaping this world will impact speakers, too.
To help understand and manage the disruptive trends in the next decade, I’d like to suggest that they fall into five distinct categories: technology, institutional change, demography, environment, and social values. Composed as an acronym, they represent the TIDES of change:
Technology Impacts Everything
The decade ahead will be dominated by unbelievable technological advances. Cheap and easy DNA scanning will lead to personalized medication, robotic artificial organs, alternative energy sources and applications, nanotechnology and space tourism, to name just the headline grabbers. But the biggest technology revolution of the next few years will not be found on any shop shelf: It is a revolution in how people process information, and it has the potential to change everything.
How we process information influences who we trust, where we go for information, how we access it, where we store it and how we use it. If this changes, it will affect purchasing behaviors and, therefore, how things are branded, marketed and sold. It will change communications, and how people work as individuals, group together in teams, manage and lead. And so, it will also impact organizational designs. In other words: everything.
People want to be able to contribute, collaborate and connect. They have an innate desire to be involved, to interact and to engage—not just be given information in a one-way communication. This is one of the reasons that social media, such as Facebook, Twitter and LinkedIn, has taken off. The concepts of social search, augmented reality and converged cloud connecting will provide new and exciting ways to access information, make decisions and collaborate to build businesses and value.
Speakers who wish to thrive must tap into this new mindset. If people expect to collaborate and interact in content creation in all parts of their lives, it affects the role of spoken-information suppliers. (The same is equally true of books, manuals, webinars and programs.) Obviously, there will be an impact on how speakers market themselves and prove their expertise. (How many YouTube videos have you uploaded? How do you manage the mix of blog, podcast, social network and live engagement?) All communications, from websites to live and packaged programs, need to encourage engagement, involvement and interaction.
As the decade unfolds, the craft of speaking will be further impacted by remote presenting—using significantly improved 3-D and holographic technologies, real-time interactivity with audiences, real-time translation and transcription tools.
The New Realities of Institutional Change
Almost every industry in the world is undergoing deep structural change, with new rules being written for success and failure. The world of speaking is no different, requiring an adjustment to the metrics and expectations to fit the new reality. For example, lead times have been dramatically shortened, which requires new ways of managing schedules. Clients are demanding much more customization—and more value—than ever before. Adopting a return-on-investment mindset in pricing and communications with clients is a valuable first step in positioning for this structural shift.
The Demography Connection
Aging populations, falling fertility, later marriages (and more divorces), changed behavior in relation to retirement and pensions, increased global migration and globalization, and the continued shifts of political and economic power towards developing countries are just a few of the demographic trends that will change the shape of the world in the next decade. Greater cultural diversity, and the emergence of the developing world as both destination and decision maker, are inevitable.
Many people are youth-obsessed, trying to find ways to better connect to Generation X and Millennials. This is important, of course, as decision makers and audiences become younger and exhibit different attitudes and behaviors. But the aging Baby Boomers can’t be ignored. The current 50- and 60-somethings control nearly half of the world’s wealth and disposable income, and are nowhere near finished with their working lives. There will be a huge upswing in small businesses started by over-50s in the next decade, and growing markets in all products and services aimed at the over-50s. Don’t miss out.
Doing Your Part for the Environment
The November 2010 edition of Speaker focused on the “green” movement. Whatever you believe about the scarcity and use of global resources and climate change, it should be obvious that more and more people, companies and governments are demanding that their suppliers make an effort in this area. One simple response as a speaker is to ensure your clients know that you purchase carbon credits for all your travel.
Social Values Continue to Evolve
With all of these forces changing the world, it’s no surprise that what people consider to be normal—their expectations and values—are changing too. Societal values have been changing for some time: Attitudes about careers, the role of women, marriage, homosexuality, diversity, the importance of work-life balance, recycling and the use of technology have all changed markedly in our lifetimes. There’s more to come.
Speakers, in particular, will be impacted by changes in perceptions of the value of spoken information. With so much information so easily available, people need a compelling reason to access that information through the medium of a spoken program. Shifting social values are placing a high premium on the ability to dig through mounds of data, make sense of it, provide insights and package all of this in formats that both inform and entertain. Now more than ever before, speakers must hone the craft of sense-making, becoming the eyes, ears and mouthpiece of a generation.
This is the privilege of the platform and the power of the podium.
Harnessing the TIDES
Those starting out in the speaking business are doing so in the noisiest world we’ve ever lived in. Finding one’s voice amid a proliferation of data, information, sound bites and messages requires using technology wisely, understanding institutional changes, choosing demographic target segments carefully, and tapping into big trends such as the environment and shifting social values. All the while, it’s a matter of focusing on adding real value.
For those who have been in the business a while, it’s a matter of making changes to the rules for success and failure. Mark Twain probably said it best: “It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so.”
The decade ahead is not going to be easy. But it will be exciting, and has the potential to bring great opportunities and rewards for those willing to adapt to a new world of work.
For more information on these five forces, and how they’ll influence your clients and your business, visit http://tinyurl.com/tideschange .
This featured article first appeared in the February 2011 issue of Speaker Magazine, NSA’s official award-winning publication, is published 10 times annually in print and digital formats. Speaker provides members and non-members with the latest marketing and branding strategies, legislative updates, tips on running a speaking business more efficiently, and innovative ideas from top professionals worldwide. Articles are contributed by working speakers, who generously share their knowledge from the trenches of their speaking businesses.
Comment by Standard Of Trust on Mar 4, 2011
Your principles, capabilities, and trusted behavior must be validated and easily found.
For businesses and individuals to prosper in the relationship or reputation economy, you must have high integrity, make & keep commitments, and be perceived highly by other people.
This has always been the case with regards to the quality of relationships you have had with others, but social media takes it to a scale never imagined before the internet was created. Manage your Relationship Capital (RC) to Prosper!