"Change, you know, has subtle quality. It comes upon you quietly. It creeps and you continue to pleasantly operate on
basis of old and comfortable assumptions and premises until suddenly, change explodes opportunity in front of you. And you are totally unequipped to deal with it because your ways of thinking, your concepts, your techniques, are all geared to an age that is no more!"
Source: unknown
Today's marketing leader and savvy CEO's better recognize that change is constant, even more so than last year, last month and perhaps even last week!
Time-to-market issues are more acute than ever, in some cases, causing
demise of once mighty companies. Product life cycles are measured in months, with some in weeks. Globalization is in full swing. The ubiquitous WWW continues to level
competitive playing field providing smaller firms cheaper and easier access to global markets. New markets are harder to segment causing competitors, big and small, to lurk behind every account and around each order. Outsourcing skill-sets such as manufacturing, engineering and even marketing tare at
fabric of established firms, yet must be required strategy for companies wishing to not only survive, but thrive in
business environment of
21st century.
Technology is assaulting every aspect of your marketing mix - price, promotion, product, and place. Thinking otherwise is simply not thinking. Creative marketing groups must focus on understanding, trending, and innovating ways to use technology as a significant competitive advantage.
Innovation is key and must be applied to these emerging trends:
Techno-edge: Technology is advancing rapidly - embrace it! Market winners will be those that most effectively understand and utilize technology to their customers' advantage. Find ways to insert technology in all phases of your marketing mix - automate your sales force with CRM and SFA productivity tools but always make sure your customer benefits; look for systems that provide easier, and more comprehensive pre/post sales support through WWW techniques; make sure your R&D group is cutting-edge and understands how technology can solve your customers' problems - not just add low-value, "techie-type" features; innovate your distribution methods driving more channels-to-market with least cross-channel conflict.
Speed: Speed in everything your firm does - from new product development, to how many rings it takes to answer your business phone. Speed wins and technology is pushing things to get faster while raising consumer expectations on how long they should wait. I'll bet if you critically reviewed every step of your organization, you would find useless queue times and non-value add steps that don't help your customer. Look for ways to create a business that thrives on ‘speed-of-customer satisfaction'.
Convenience: Whether you like it or not, your thinking competitors are building an edge on convenience. Don't be left behind - find ways in your business to provide unparalleled convenience to your customer. Purchasing your product via
web or gaining access to product support or
ability to download software tools 24/7 should be your norm. Many companies are allowing demo's (well done videos or actual software use if appropriate) of their product to be available 24/7 so
customer can pick their time to review
product. Can you create an advantage in your customer billing system? What other areas can you automate to benefit your customers? Look through your entire organization and find ways to make it more accessible, and portable. Consistently add ways to make it easier for your customer to do business with your firm otherwise they will with your waiting competitor.