The Importance of Trust in the Tech. Industry

Think about trust for a minute.  A good business emphasizes the importance of customer trust in their model, and a customer is more willing to trust when they know the company is thinking of them first.  Now think of the Internet, and think about how much trust we put in our technology, and how much it has grown since the early days of the Internet.  Trust is a “high-value currency” in the current tech landscape, and can be the difference of success and failure. The one thing that tech businesses need to understand, right now, is that earning customer trust is an absolute necessity.  Now the question is, what exactly is the qualitative approach to building trust? 

Check out some best practices for building trust here

Value & Innovation in Technology 

The tech. industry is constantly being defined and redefined by products and different category innovations.  Lately, volatility has been even greater in the shifting landscape, and has begun specifically affecting the hardware and software companies.  Tech. companies are reexamining themselves, to eliminate operations for which they can earn better financial performance.  The increasing competition from well-funded startups has made customers more demanding, thus they are seeking the better performers, better features, and more independence and flexibility at a reasonable price.  A hopeful economist could see that with increasing market players, the industry is approaching new levels of price stability. 

Check out the article “2015 Technology Industry Trends” here

An Arbor’s Increasing Job Market

An Arbor, Michigan, is experiencing the impact that the tech. industry is having on economic growth.  According to University of Michigan economists George Fulton and Donald Grimes, the professional and business services industry will be a big chunk of the more than 13,000 jobs forecast to be created in the country.  Nearly seventeen percent of all job growth in Washtenaw Country over the next three years will come from the technology sector, as 2,020 jobs will be created by 2017.  This trend is just a reflection of the overall market trend in the country; the market share of jobs in the tech sector was 12.6 percent in 2013, up from 11.3 percent in 1990.

Read more about the economic outlook for the market here

Happy Friday Everyone!