There should be absolutely NO reason for a stock product to ship in more than 12 hours. I want it FAST. Ideally, I’d love to have it tomorrow.
Make SPEED your competitive advantage! (While you can.)
In the past, some companies would invest in process automation. This company would reduce their costs and make itself more competitive. Over the time, others would implement similar automation and this would level the playing field for all. In fact, automation+efficient processes would become a requirement to enter the industry.
Point: be first to gain first-mover advantage; be last to catch up with competition.
Companies like Zappos or services like Amazon Prime make speed their competitive advantage. Order shoes today, you’ll try them on tomorrow. Order any household item, you’ll use it in 2 days. What a difference from placing a catalog order a decade ago!
Speed is not limited to processes
Processes are very important, yes, but speed optimization is not limited to them.
How fast does your website load? Research, done by multiple companies, shows that slower load time impacts your exit rate and ultimately, conversions. Moreover, slow user experience negatively impacts long-term behavior.
How fast are you to reply to customers’ emails?
To spot a tweet mentioning your brand?
To fix a problem?
To come up with a cool idea and send it to theChive?
Become obsessed with speed
Recently, I read “In the Plex” by Steven Levy where I learned that Google is obsessed with speed.
In the early days of Google, Larry Page spoted tenths-of-a-second delays when delivering search results and ordered to improve load time. This kind of obsession paid off big time! Are you ready to improve your speed?