First Mover Advantage: Be a Submarine

One U.S. submariner posted the following account: “No matter the surface conditions, it’s typically very calm while submerged.” These great ships are out there patrolling the entire ocean, but no one is the wiser. Under the surface, new technology is operating in business too, and it gives companies first-mover advantage.

Harvard Business Review studied the differences between companies that lead their industries and companies that lag behind. In this study, the leading-edge companies reported a much higher usage of real-time decision-making, customer-experience metrics and reward systems. We are finding that laggards in digital customer experience miss out on more than just the “trendy tech spotlight.” The sales of these lagging companies suffer, as well.

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Harvard Business Review concluded, “Leading-edge companies are dedicating resources to digital customer experiences ahead of the competition.”

Like the stealth power of a submarine, it’s amazing how new technology can help us face even the most disruptive forces of nature. But, what immersive innovation will defy the coming media maelstrom? Let’s look at the leaders. While others are trying to figure out the future, four industries are already silently leading the charge under the radar: healthcare, retail, banking and entertainment. They are using owned media platforms to submarine the media industry with innovative media of their own.

Healthcare: Nike, Fitbit and, now, hospitals and health systems are developing wellness apps and discharge apps. Lives are being improved and even saved as the lines become blurred between marketing and medicine.

Retail: In addition to what Amazon is doing to define a new category, restaurants and franchise food chains have become online brands via mobile ordering apps. From retail food and QSR to CPG and franchising, Customer Relationship Networks are becoming powerful to proactively meet every unexpressed consumer desire in real time.

Banking: Mobile banking technology is making every transaction easier with real-time access to services previously provided by a branch manager. No more lines, no more ATMs. No more cash. It’s just a matter of time before we won’t even need the credit cards in our pockets.

Entertainment: Apple TV, Netflix, Hulu and Amazon Prime are leading the industry toward a new kind of home-entertainment experience. This is the sneak attack of our generation. After the computer found its way to the family-room TV set, this audience watches what they want, when they want it, and without interruption from advertising. When this war is over, broadcast TV won’t even know what hit the industry.

Emulate the submarine…launch a sneak attack on the competition and provide new technology for customer experiences.

– Excerpt from: Surfing The Black Wave: Brand Leadership in a Digital Age