In the mid 1990’s there was a common believe of “build it and they will come” when it came to internet businesses. There were investments into anything that had a ‘dot com’ at the end of it because no one wanted to miss out on becoming a millionaire. After billions of dollars were invested with no returns, it all came crashing down at the turn of the century.
The next wave of internet businesses had to prove they had something to offer that people wanted and would pay for to attract investors. Internet business got more savvy and did market research to find real problems that they could solve at prices that were reasonable to the consumers and profitable for the businesses and their investors.
As internet technology matured and got easier to employ, many organizations got into the internet market. Companies were driven out, merged or acquired as expected in any maturing market…. and this brings us to the third – and current – wave of the internet marketplace.
One of biggest factors in internet business survival today is how easy it is for the consumer to understand the offer, easily find what they want and make a purchase. Something we call a “frictionless experience.” This experience goes across all devices – laptops, tablets, phones, kiosks – every way today’s consumer can experience your brand. With a focus on creating better experiences to win markets, we have seen a tremendous investment in integrating experience design objectives and KPI (Key Performance Indicators) into an organizations’ strategy, processes and human capital.
There has been plenty of research that shows that businesses fail because of delivering a poor experiences and organizations that are experience leader do exponentially better in the market. To learn more about how your organization can determine, develop and deliver a better experience, please join us at the UX Boot Camp for Product Managers in Tustin, CA Saturday, May 14.