22 Jul The Wireless Effect
As we transition from a digital to a digital wireless world, almost all industries will feel the effects, especially finance. It won’t be too long before a large majority of investors will be making trades in their cars, on park benches or in restaurants using wireless devices. In order to better prepare your company for these changes, it would be wise to begin developing a strategic plan now before the inevitable future becomes reality.
There are several steps you can take to prepare your organization.
These steps include:
1. RESEARCH — Familiarize yourself with the advancements occurring in the telecommunications industry and 3G technology. 3G, or third generation, allows transfer speeds of up to 30 times the previous wireless speeds. Many telecommunication and content providers are partnering to deliver powerful enriched content to wireless devices as hardware and software capabilities mature. The technology is here, and the tools are being refined and improved each and every day.
2. BECOME A VISIONARY PERSON AGAIN — Remind yourself that there are limitless possibilities for providing the tools and experience consumers expect from today’s financial institutions. Wireless real-time stock tracking and trading should not just be the capabilities that the larger financial institutions offer. Consumers are becoming more knowledgeable and want everything done faster. In order to retain them as customers, it is crucial that you provide information more quickly and efficiently. This process is only increasing in speed as information becomes easier to obtain and technology advances come more quickly to market. If you do not keep up, you will be forced to make changes constantly as your consumers’ habits and expectations change. Don’t just recognize what your competition is doing, but make a concerted effort to be the earlier adopter in your industry.
3. PLANNING WITH PHASES — Design your wireless plan to incorporate phases that will begin now and grow with the technology, industry, marketplace and consumers as they evolve. Your plan should be a minimum of two years in scope, and, like most good business plans, should be refined and reworked as it is executed. Most firms are thinking short-term and are not building strong foundations for long-term growth. Proper planning should be your road map to success.
4. IT IS NOT JUST ABOUT TECHNOLOGY — Surround yourself with the right people in order to begin making these changes and implementing the strategic plan. When it comes to carrying out the vision an organization has, one of the biggest mistakes made time after time is misuse of resources. For example, do not automatically assume that someone with a background in technology will be the right person for a wireless web-based project. Carefully pick your team for this battle with an eye toward complementary skills. Make sure each member will not only implement your vision, but will also add to it.
5. TOGETHER YOU CAN MAKE THE PIE BIGGER — Determine and solidify key strategic alliances that will assist your organization in distributing your wireless campaign. Think of cross marketing programs and deals that can be made which could be mutually beneficial to all parties involved.
6. TRACK PROGRESS & GET RESULTS CONTINUOUSLY — Unless you make your wireless plan a priority, it will never come to fruition. Once things are set in motion, track the plan’s progress and its results. You can rest assured that your competition has already started implementing their own strategies.
The overall goal is to provide the customer an experience with your organization that not only meets expectations but far exceeds them.
James Zimbardi, a graduate of Stetson University, earned a BBA in Marketing and Information Technology. In 1997, he founded and became president of Zynergy, an eBusiness consulting firm. James has worked with several Fortune 500 companies and publicly traded companies to help innovate and revolutionize industries. Zynergy’s sole purpose is to consult with visionary companies and place its clients as leaders in the marketplace through innovation and creative thinking.