New Market Penetration Approach

Adrian Ott, author of The 24-Customer spoke at the Association for Strategic Planning annual conference.  Good strategy involves understanding the new dynamics of our customers.  It involves understanding the competition.

The dynamics of competition are changing quickly. Today, we are competing for the time and attention of people. Click on video below to get a quick overview.

Getting a new, fresh perspective on customers are needed.  How customers think, make decisions, spend their time has changed. Classic models of product development involve defining product features based on customer needs and wants. This isn’t bad, but is it enough? Today people are more connected, and more overwhelmed than ever before. “It is about time.”

A key to success is to provide as much value to a person as we can in the shortest about of time possible. A critical new measure will become Time / Value. Companies are beginning to focus on what is being called “Time-Value Innovation.”

Time is Not Money. Time is More Important Than Money

Today’s customers are overwhelmed, overworked, and over-stressed, and it seems that everyone—from CEOs to soccer moms—is short on time and overwhelmed with information. As a result, despite the availability of 24/7 commerce and countless ways of engaging people in our multi-screen (mobile, TV, PC) economy, companies find it more difficult than ever to claim even a fraction of the 1,440 minutes in their customers’ precious 24 hours.

In The 24-Hour Customer, Adrian C. Ott, CEO of a successful Silicon Valley consultancy, argues that companies need to strategically harness the ebbs and flows of customer time and attention in order to win in today’s competitive landscape. She explores the economics of time and attention, including why customers will devote hours addicted to social networks, yet will say “I have no time!” to other offerings. Based on extensive research and real-world results with market leading companies, this book provides tools such as Time-Value Tradeoffs and Time-ographics that pinpoint opportunities to increase revenue and gain market traction.

Highlights by David Willden