All businesses are subject to the unpredictable evolution of the market place. The danger you face is of misjudging or ignoring trends that can make your business become obsolete.
To demonstrate this I’ve previously used the anecdotal example of the ancient city of Pompeii as it was overtaken by volcanic ash. In my latest example I look towards the future of communications as recent reports show that instant messaging apps like WhatsApp and Skype continue to overtake the more traditional standard of mobile messaging, SMS. And although SMS continues to remain widely-used, especially amongst those without smartphones, the continued rising trend of mobile messaging apps poses a danger for industry titans that fail to innovate.
Projecting ahead, Deloitte predicts that SMS volumes will now drop to around 140 billion for 2014, which might turn out to be generous.
If social media halted the SMS juggernaut it is mobile instant messaging (MIM) that is now eating it. Once marooned inside small PC applications, this has migrated to mobile apps such as WhatsApp, Viber and Skype that don’t charge for communication.
No amount of SMS bundling by mobile networks will stop their rise.
Image via the SocialCMO