With new technologies coming out every year – Uber, Airbnb, LimeBike, Amazon Prime one-day delivery, Google Home, and Amazon Echo – marketers are having to change their approach, as well as provide the product as quickly & efficiently as possible to keep up. This technology transformation, where goods, services, media, transport and even a place to stay can become available to you, almost instantly, isn't showing any signs of slowing down either.
As Millennials continue to graduate college and start their professional careers, the ability to access or receive anything at the palm of their hand has become the norm. They don’t remember the struggles of waiting five minutes to connect to the internet with dial-up – or perhaps they don’t know at all. According to research, 49 percent of the on-demand economy users are between the ages 18-34. Most companies are going to realize that this on-demand economy is just too great of an opportunity to miss. If you are a marketer/operations manager it is crucial that you ensure your product’s delivery system is accessible, mobile friendly, and most important – efficient. Consumer demand is one of the most important factors for a successful company, and with expectations of quality and accelerated service at an all-time high, marketers must be on their A game.
Once Amazon Prime came out with free two-day delivery, the competition began. Through research, Amazon realized that customers’ satisfaction levels about their product increased if they got their product within a 48-hour time frame of purchase. Companies all around the world have adapted to this trend and have seen success. While they may not have the ability to get your product to you within 48 hours, they can ensure that it will be shipped by the end of the business day. No more waiting around, wondering when your package will wind up on your front porch.
Unfortunately, as we see these on-demand companies take the stage, it will continue to cripple their other competitors into bankruptcy. For example, Netflix formed and allowed customers to access a variety of movies, TV shows, and more on anything that can access the internet. It completely wiped out Blockbuster, their main competitor back in 2010. Consumers enjoyed the convenience of not having to drive to the store and pick out a movie; Netflix offered the instant solution.
In relation to the business of sports, Amazon has entered the stadium. Amazon and the NFL agreed to stream Thursday Night Football to their 54 million Amazon Prime users. In a Fox news article, Brian Rolapp, NFL chief media and business officer, said, "We are continually looking for ways to deliver our games to fans wherever they watch, whether on television or on digital platforms and we are thrilled to bring Thursday Night Football to Amazon.
This is a great way for football fanatics who cannot afford the NFL premium viewing package, while instantly opening the Amazon Video app. The NFL is the largest professional sport organization in the United States, and even they are adapting to the on-demand age.
Access to everything through your phone is the way the world is headed, and it is just a matter of who can keep up. What are your thoughts on this new age of on-demand economy, and how are the companies in your area adapting?