Dealing with sector disturbance
05 Aug 2016
But how does it make me feel?
Look at Uber. Compare the feature set it offers against any other taxi company and it’s a miracle it stayed in business for a week. Seriously - you can't pre book a cab, you can't flag one down on the street, it doesn't even take cash.
How come Uber, Airbnb, Turo and dozens of fresh upstarts can continuously enter well established markets and turn them upside down, making the established players shake with fear? What do they have in common? It's simple: using them makes you feel great!
Perhaps a big part of it is down to the simplicity that these companies have embraced. Perhaps it's how that simplicity and easy access to satisfy our core needs is what makes us feel.
Would Uber really have had the epic world-wide success if it didn't, so effectively, remove the feelings of confusion uncertainty and frustration that is involved with the process of ordering a cab? Feelings of stress: I'm in a hurry, will it show up in time? Feelings of uncertainty: what will it cost? Have I got enough money? Will they have change for a £20 note?
Replacing them instead with the feelings of being savvy, progressive and most importantly in control.
The seemingly effortless ease, with which these new companies are capturing customers hearts and minds should probably make us sit up and think hard. What will you do when (not if) some upstart comes to disrupt your sector? And when they do, are you going to do like the taxi companies; protest and try and bully them out (won't work forever). Or will you raise to the challenge and show them, and the rest of your competition that you understand, care about and have the focus and determination to make your customers feel great again?
If you look yourself in the mirror and can say "Yes. I am prepared for my industry being turned on its head and my business will be left standing, and be the stronger for it." Then that's perfect.
If not then this would be a good time to reach out to your digital agencies, consultants and strategic partners, and start making plans for how you can develop the right connected solutions, platforms and eco-systems to keep you competitive for this age of disruption that we are in. One where the seemingly unmeasurable metric of positive emotions can be a key contributor to success.
By Patrick Bjorkman, Creative Director