May 8, 2013 by karamcaulay
The accelerating pace of digital technologies will force companies to meet new and exacting consumer demands. Prepare now.
McKinsey has just published an article in McKinsey Quarterly describing the on-demand world where interactions are anywhere at anytime. They say success in the new regime incorporates the following:
– Engage customers in new ways
– Assemble data
– Develop new processes and skills (not just marketing)
Consumer power brought on by the digital age has fueled on-demand marketing. Not just always ‘on’, but relevant and responsive with pinpoint delivery.
Furthermore, the symbiotic evolution of technology and consumer expectations has created the need for ubiquitous product information as mobile adds the ‘wherever’ aspect to marketing.
Consumers may soon be able to search by image, voice and gesture and augment their field of vision (Google glasses).
As digital capabilities multiply, consumer demands will rise in four areas:
1. Now: anytime/anywhere
2. Can I: value for consumers
3. For me: personalized experience
4. Simply: easy interactions for the consumer
Companies must deliver high-quality experiences across sales, service, product use, and marketing. Few companies can execute at this level today.
Need to embrace emerging tools for gathering the right data (what are they?) across the consumer decision journey.
** Finally, the marketing organization’s structure will need to be rethought as collaboration across functions and businesses becomes ever more essential.
You can read the 15-page McKinsey article here.