Companies’ early explorations with digital technologies have raised B2C and B2B expectations to new heights. They’ve also provided the basis for companies to act on one of the next big opportunities in business: Digital tech means businesses are no longer able to just capture markets. They can capture moments.
What does it mean to capture a moment? It’s about being able to deliver goods or services to a particular customer at their particular moment of need. The world has been evolving toward the goal of capturing moments as long as digital technology has existed; in the post-digital era, it will finally be possible. In fact, it’s the natural product of a digitally maturing world.
New technologies allow consumers to access personalized products and services on demand, and they also enable businesses to produce customizable products more quickly and inexpensively. That combination has set consumer expectations on a constant climb. In the post-digital era, it won’t be enough to achieve customization or on-demand products and services. People expect both.
MyMarkets: The new normal
The rise of "momentary markets" means that every discrete piece of time is an opportunity: a chance to deliver a new on-demand product or service designed to meet a specific customer’s needs.
What’s more, when businesses become capable of delivering for the moment, they can adapt their granular demand forecasting to look even further into the future. The next step will be getting ahead of larger trends, giving themselves ample time to develop their market strategies and prepare the business for where it needs to be in the future.
It’s no surprise that leading organizations are already preparing to live in the moment. Many have already invested in the tools it will take to do so. AI will help predict trends and preferences. Digital twins and agile manufacturing will provide granular context and the capacity to rapidly prototype, experiment and deliver.
For tomorrow’s business leaders, participating in momentary markets is a necessity. Miss a moment, and there is no second chance. But companies that weave a tech strategy to meet growing customer expectations will find themselves far ahead of the competition in the future. They will remain continuously relevant in the face of constantly changing customer, partner or employee needs. It’s what will differentiate them in a post-digital era of rising expectations.