Wednesday, March 7, 2007

Owning the NOW - The Impatient State Of America

Today's Consumer Mantra - If You Don't Want My Business, I'll Take It Elsewhere

By David Miranda

A recent AP-Ipsos Poll reinforced what we are all well aware of in our daily lives - we have become an impatient nation. The poll concludes that impatient Americans are more demanding.

  • 50% said that they refuse to return to businesses that made them wait too long

  • 60% said that they can usually wait no more than 15 minutes in line before losing their cool

  • 54% said that they can wait no longer than 5 minutes on hold before losing their patience

"If you ask the typical person, do you feel more time-poor or money-poor, the answer almost always is time-poor," says Paco Underhill, an authority on what draws and drives away shoppers.

Marketers should recognize a key lesson here - competitive advantage lies in reducing the gap between a consumer wanting and a consumer getting what, when, and where he or she wants.

Are you investing marketing dollars in attracting consumers only to have them put on hold, stand in line, search for a sales person, navigate an un-user friendly web site, etc.? Do you have a churn to competitors who are capitalizing by satisfying your impatient patrons better and quicker?

Successful marketers will be the ones who own the "NOW" with consumers by being hyper-sensitive to their valuable time.