IDG Contributor Network: 5 ways for businesses to master the relationship economy

In the past decade or so, the economics driving global sales have gradually shifted. For years, the world operated on the model of the Consumer Economy. However, the rise of an interconnected society has opened the doors to many possibilities, and collectively, this puts the power back in the consumer’s hands. The result is that successful companies have shifted to the Relationship Economy rather than the Consumer Economy. Built around trust, enabled by digitization, rather than sales, this new model isn’t just a trend; in fact, with the Big Data era becoming more and more robust, it’s likely that all industries will dive deeper into the Relationship Economy as years go on. If your company haven’t shifted to this model, now is the time — and here are five key ways to start.

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