Tuesday, May 29, 2012

The New Competitive Front: Time

Does speed pay?

Speed dating, speed pitching and speed networking all work on the same principle:  First matters.  

In the digital age the time it takes to plan and execute is compressing radically as previously distinct processes are smoothed over with the goal of shrinking time.  A recent Boston Consulting Group article discusses how consumer goods firms (FMCG) are competing on time.  

From the article, best in class firms are substantially quicker at getting things to market:

The secrets are a common goal, no functional boundaries and no politics; this in turn contributes to revenue growth, market positioning and transformation. 

At the extreme, the decisions are automated.   In the world of digital advertising where real-time-bidding, targeting and tracking have shown the value of eliminating time comes new research from Nielsen Catalina Solutions that shows integrating touch points with a consumer's transaction history works even better.   Here is the payback of directly integrating what people buy with the media buy.

The implication is that there are no channels, there are no demos.  There are only needs to satisfy.

Must go faster....

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