Key Point: Strategic planning, as most of us have known it over the years, is getting disrupted too. Yay. And frankly, I think ALL organizations are going to end up at the very same place. The strategy will ultimately be that the service or product you’re offering or paying for (consumer or business), will have to feel like it was made just for you, or you likely won’t buy or sell it. Occasionally, some new innitiative may be so breakthrough that we will be willing to buy it as a commodity or “unicorn” product/service, however even that is less likely to take place in the future.
If you want to survive (let alone thrive) as an organization, you better be able to service a customer of ONE. Of course, you will be smart enough to scale and customize off of a common platform or your business model will not be sustainable. However, if you’re the consumer you will very quickly learn to only buy what’s “made” just for you (and no one else). Yes, you will be able to shop and compare the essence of what you need or want. At the same time, you will quickly learn to ignore (and if you buy regularity on Amazon Prime you’ve already begun) general products or services. Why? You will learn to get exactly what you want, when you want it, at a value offering that you will find “just right.” Even toilet paper will be bundled just for you and me. And nonprofits, look out… The same applies to you (even arrogant regulators).
As an everyday example, you and I will soon expect our food service company to anticipate what we want, when we want it, at a value we will invest in. None of us are likely to pay the same price for what may appear to be very similar. Your bank will need to do the same thing. Every product or service you and I need or want will be very personal. Perhaps, just to be a little provocative in this blog, even that secure and secret prompt from Pornhub will be just what we are in the mood for.
You and I are “happily” giving up all of our information for “free” valued experiences right now… Social connections, content search, etc. We complain a little about privacy and yet we publically post and participate everywhere. And the best organizations are becoming “data insight geniuses” to learn everything about what we really want and are looking for. Search data tells organizations what we really have on our minds. This is likely not happening because people in organizations are watching and secretly passing judgment while trolling us. Heck no. Artificial intelligence/machine learning bots and sensors on/inside literally everything will outline and anticipate based on learning algorithms resulting in offerings we are (perhaps even unknowingly) looking for. And the winning organizations will figure out how to effectively and thoughtfully connect to have us willingly pay. And in the banking industry, it will ultimately feel like you and I have a private personal banker, that deeply cares, anticipating and looking after ALL our money needs on a trusted platform (a very human like bot). This will happen, (my humble view), in a ubiquitous way within a decade, and I’m being conservative. Overall, it will feel like whatever we spend our energy and resources on will be “just for us.” The emerging model: “Live more happily… It’s personal.”
Personal Leadership Moves:
- Instead of spending time trying to figure out the future scenarios and market segments, etc, invest in developing a fully digital platform that provides you and your organization the ability to uniquely differentiate on a customer of ONE. It is going to be a segment of ONE.
- Stop wasting your money advertising what your brand is supposed to be and WOW each customer you value by having them say, “I feel like this company sees me and knows me better than even I do. They ‘WOW’ me literally every time I do business with them.” Try and make your customers feel that way NOW with whatever platform you have. Build from there.
- Become or learn how to participate in a company that thinks this way.
Delivering to and becoming a Customer of ONE,
Lorne
One Millennial View: Many of the podcast hosts I follow now are involved with Patreon, a service that offers each ONE listener/viewer the opportunity to invest a small amount of money per month to fund extra content for the program. Now, content providers can rely much less on influence from advertisers/sponsors, and create what they know each ONE customer wants/will pay for. I see some real future in this in all forms of media, and more.
– Garrett
Edited and published by Garrett Rubis