We are very much in the age of ‘everything now’ with technology helping spawn and encourage this expectancy among consumers. Whether you want to buy media space, fancy a flutter or see how many calories you’ve burned, it’s becoming less and less a luxury and more and more the norm.
There’s a reason iPhones and its rivals have yearly releases. Consumers are always after something new and better and if their wants and needs aren’t met, they’ll look elsewhere.
This speed mentality, has naturally fed into, and is quite a common practice for many real time marketing mechanisms in the b2c world but it’s more present than it once was in the b2b domain. 87% of b2b companies believe that it’s an essential string to their outward marketing bow.
But what about inward? Surely it’s just as important to get a real time feel about the sentiment of your business as it is attracting and retaining custom?
Traditionally this hasn’t necessarily been the case but the need for instant intelligence on your stakeholders is becoming more and more business critical.
By being able to get a regular health check of your company it allows you to make better internal decisions which have a domino effect on your external efforts. Getting rapid feedback on what your stakeholders think of your organisational ecosystem, can be the key to maintaining your wining culture and improving your bottom line.
Some people think that acting quickly can be to sacrifice quality and there are cases that require more time and consideration than others. However most businesses are built on small, gradual, consistent improvements, rather than the sporadic big moment which is only made possible by small, everyday efforts and achievements.
How you treat speed as an asset, can be the difference between your company being the Blockbuster or Netflix of your market. The quicker a company fosters an environment of speed the faster they learn and thus the sooner they evolve and get to where they want to be.
By viewing speed as a friend and not a foe, companies can adopt this winning momentum and turn it into a competitive edge allowing them to set trends rather than follow them.
If you’d like to know about how we help companies implement this approach drop us a line for an informal chat.
Patrick Phelan, Managing Partner @ The Happiness Index