Insights

Time is the New Currency: Are you in Debt to your Customer?

In the age of the internet, our lives are more connected than ever before, but with this connection comes a new expectation that every interaction and transaction will happen when we need it to happen. And in many cases that is instantaneous.  

Our ability to source knowledge, resources and experiences as well as connect with anyone, anywhere, anytime leaves us amazed and exhilarated but also incredibly impatient.  The concept of waiting is quickly vanishing as consumers march to the drumbeat of text messages, push notifications, tap-to-buy buttons, and more; redefining our expectations of speed and ease.

No matter our ability to stay on top of the latest development, there’s always more to see, to learn or to buy. There just isn’t enough time! And yet, to some extent, the pressure is self-imposed to make the best possible decisions for ourselves, our families, our friends and our colleagues.

So it’s no surprise, that 75% of us feel pressed for time on a regular basis. What’s really interesting is when you ask us if we would rather have more money or more time, 40% of us claim time is our more valued asset; a 54% increase in the value we attribute to our time today compared to merely one year ago — things are changing.

But what does this mean for business?

In this ‘always-on’ environment, your customers expect this level of connection and responsiveness from you – when you can’t deliver it there are many others who can, but when you can deliver it you are providing tremendous value that will not soon be forgotten.

So how do you win in this new world?

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