The world is moving fast, and so are businesses, financial markets, and brands. Today, people are addicted to speed, including fast internet and instant service. Slow delivery is no longer viable for any vendor, meaning service providers and product suppliers are obligated to provide quicker and smoother orders to clients.
In 2019, fast solutions have been important for differentiation and survival, but in 2020 fast solutions will be completely inevitable. Companies that are not able to provide fast services are likely to suffer losses in revenue. By next year, supplier and vendor numbers will rise, with many overtaking through innovative services and better customer experiences.
In 2020, expectations around customer experience are most likely to rise as clients become treated more exclusively by companies, so to stand out customer service has to be disrupted even more.
For instance, if you are running out of time and you need to get to location X as soon as possible, you can take an Uber anytime, anywhere. If you are hungry, you can order food, anytime, anywhere. That’s the definition of fast service and getting instant service delivery.
But what does it mean for consulting businesses?
We can already see tremendous changes in the business registry field. For instance, opening a company in a foreign country five years ago was a long and complicated process, but today service providers offer business registry services within 24hrs. How is that possible? Because service providers took a few steps forward in locking down strategic partnerships with banks and local authorities in order to make processes smoother and faster. The service provider needs to take the initiative to improve.
What does it mean for IT consulting businesses? Currently, website and app development are not taking months and years. Companies are now able to develop technology faster, in weeks or even days.
However, probably the most difficult industry to innovate is marketing and sales. Why? Because it’s about business growth. We can create a company fast and have a website created fast but how fast can we get new clients and build a new brand? Getting clients and building a brand takes time. That’s why marketing is yet to be innovated further, with better strategies to grow businesses from zero to hero in a matter of weeks.
Nothing is impossible. It’s all about connections, partnerships, strategies, and logical thinking. Always thinking more than enough will bring businesses forward, and that’s a compulsory objective that every business should prioritize in competitive markets and fierce competition.
Fast delivery for any type of service is crucial for the client and the vendor. Both sides need to grow faster, and to do so both sides need to stay on top of the latest industry edge.