It is a personality contest.
“Speed to market” is an often used term for quickly moving from idea through development to actively selling your product or service to the public. The objective for ‘speeding’ is to quickly secure as much market share as possible before the competition has a chance to respond or before the copycats create their better, faster version of your concept.
The co-pilot of success in this race is “Speed to Consumer Connection”. You may very well have a phenomenal product or service that is a necessary disruptor in the industry, but if you fail to connect with your end consumer, you will not be winning this race.
Your next great idea needs to excel in quality, distinction, and consumer connection.
Because perception becomes reality, here are a few examples from various industries:
Financial Sector: There are noted fund managers who amass far greater assets under management than others simply because they understand and have perfected the art of consumer connection. They put themselves out there - networking events, being a panelist, writing opinion pieces, etc. – they talk a good game, have abundant affable qualities, and are masters at connecting with others. Their management style, theories, and investment returns are good but not as good as other lesser-known managers and yet, they attract assets seemingly without effort. They are the popular choice because people know of them, like them, and want to deal with them – the required effort is in telling a good story and making the investor feel confident and amazing in the experience.
Entertainment Sector: Regardless of your profession in the entertainment industry – be it singer, actor, musician, etc. – your fan base is the key to your success. In this hyper-connected world, there is no shortage of ways to connect, enthuse and build a relationship with your audience. Taylor Swift is a top entertainer who goes the extra mile by hosting private, pre-launch, fun-filled parties for her fans, where she plays her newest album for them before it is released to the public. Being popular and honouring the love of her fans, has afforded Taylor Swift a favourable life. Top performing artists in the industry have figured out how to thrill their fans, reward them for their loyalty and reap the many benefits of their fierce and dedicated support in an often fickle world.
Tech Sector: For years, Apple has been the Gold Standard (dare I say Diamond Standard) for building an effective Brand and high-converting marketing to sustain and support company growth. And while they have fantastic products, some would argue there are better-performing devices out there. So, how is it that they are able to maintain market leadership? Because of one very important fact: They OWN their relationships with their customer base. They have perfected consumer connection and it is visible and accessible to all who interact with their products and their business. Apple allows the needs of its consumers to dictate the direction of their innovation and this is brilliant because it bases production and evolution on qualified demand vs keeping ahead of the competition. Their intent and energy are in serving the consumer and keeping its Brand promise – allowing Apple to integrate seamlessly into the lives of its customers and positioning them as a Lifestyle brand in the hearts of its fans. Apple hits the trifecta of quality, distinction, and consumer connection – they are the popular choice.
All three of the examples above have successfully hit the mark in the popularity contest with their fans, clients, and consumers through connection.
Let’s remember there is no shortage of people who can do what you do, but there is only one you, with your unique accumulation of experiences, expertise, attitude, and approach.
Use your connection to your consumer to drive:
Innovation – does the world need your solution?
Reward – how enjoyable is the interaction with your brand, product or service?
Excellence – are you delivering quality worthy of loyalty?
As you race ahead to build, grow and evolve your business or launch your next product, keep in mind that speed to market includes speed to connecting with your consumers.
If you need clarity to understand your consumers and how best to connect with them, reach out for a chat – we would be happy to help.