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Customer empowerment? Blame the Internet.

By: Dave Berkus

 

customer

Yes, we can blame the Internet for this.  But don’t close your eyes to the fact that your customers have grown to expect your products or services in the form of…

‘WHAT I want, WHEN I want, and WHERE I want.’

Especially for those of us producing forms of media for consumption, from books to movies to music to games to blogs to podcasts and more, our customers expect delivery in the form of bits over the Internet upon demand, usable on a multitude of devices, and sometimes stored and available in the cloud at no additional cost.

Expectations rise with technology

For those producing physical products (atoms, not bits), Amazon and a few others have set the bar of expectation that already includes one–hour delivery at a cost and for certain items in many urban areas.  At the very least, two–day delivery has become the minimum expectation to virtually anywhere.

Embrace remote outreach to save everyone time

If you provide services rather than products (neither bits nor atoms), consider offering discounted rates for remote phone or video appointments if applicable, for un–booked appointment times if not possible, and for early booking of time if neither works.

Entering the age of mass customization

As to selection (WHAT I want), do not be surprised to see your customers moving you to find ways to use 3D printing and other mass customization tools to create unique products without inventory cost to you – and certainly moving you to consider “additive manufacturing” (3–D printing) as a new norm for some or many of your products.  Be ready:  remote 3–D printers may soon make “WHERE I want” common for some products produced locally on demand.

If you are not considering these demands and your responses already, surely someone else is.  Be an adaptive business leader.  Create strategies to lead in areas where new technologies can give you a competitive edge.

Published: April 11, 2022
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Source: Berkonomics

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Dave Berkus

Dave Berkus is a noted speaker, author and early stage private equity investor. He is acknowledged as one of the most active angel investors in the country, having made and actively participated in over 87 technology investments during the past decade. He currently manages two angel VC funds (Berkus Technology Ventures, LLC and Kodiak Ventures, L.P.) Dave is past Chairman of the Tech Coast Angels, one of the largest angel networks in the United States. Dave is author of “Basic Berkonomics,” “Berkonomics,” “Advanced Berkonomics,” “Extending the Runway,” and the Small Business Success Collection. Find out more at Berkus.com or contact Dave at dberkus@berkus.com

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