“It is no longer the big beating the small, but the fast beating the slow.”
– Eric Pearson, CIO, Intl Hotel Group
Speed has never been more important in business, and no doubt it’ll just keep getting more important.
Fashion has always changed fast, and in tech industries many product lifespans are measured in months.
Customers no longer can afford to wait for perfect; they need good-enough now.
And that means that companies, and marketers, need to constantly launch and iterate.
The process cycle for this is something like Design > Build > Launch > Collect Data > Analyze. Rinse and repeat.
In the Lean Startup methodology this is done by iterating on an “MVP” – minimum viable product – and improving it based on customer and market feedback.
Marketers use the agile methodology to manage two-to-four week sprints with defined goals and daily check ins, and then they immediately move on to the next sprint. The amount of data generated from digital marketing programs make many of them ideal for constant improvement.
I’ve found my new Marketing Strategy Sprint, which produces an actionable plan in just a few weeks, to be popular. Clients no longer want to spend months figuring everything out; even if they could afford the money, they can’t afford the time.
You need to be impatient, nimble, agile, and speedy.