What it takes to be best-in-class in mobile innovation
Are you a leading mobile innovator? Is your business a best-in-class organization when it comes to mobile applications and services? Are you on your way to becoming one?
The Aberdeen Group, a technology research and analyst shop, sorts businesses by their scores on proprietary research metrics, and best-in-class organizations are in the overall top 20 percent regarding optimizing and getting the best value — or bang for their buck — from their investments in mobile technology.
Becoming the best
According to research accumulated by the Aberdeen Group, what does it mean to be such an organization by way of mobile technology? Businesses with this designation are found to share the following characteristics:
- Have an ability to move fast, turn on a dime and allow new mobile capabilities to drive their business forward. They make mobile more than just a convenience for customers — rather, it becomes a competitive advantage and a reason for customers to choose one organization over another for their business.
- Use advanced mobile technology to increase customer engagement, create entirely new revenue streams for value-adding services over smartphones and tablets and cut costs to improve the bottom line without making the customer experience suffer as a result.
The benefits of being in this rarefied class are manifold. Of course, these best-in-class companies are four times more likely to see high adoption rates for their mobile applications and services. Overall, they are an astonishing 10 times more likely to have very or extremely satisfied users, according to the report.
Rise of the underdogs
As it turns out, a best-in-class organization is not always the major, established enterprise. It can also take the form of a new, fast-moving startup. Though large businesses with rich histories often have huge customer bases and budgets to match, small and fast-moving entrepreneurs can create companies that upend established industries seemingly overnight.
The best example of this disruption is the taxi industry, a staid component of most major cities with medallion values rising into the millions. Uber came along with a mobile app that connects people with drivers, smooths out payment and tipping friction points and gives customers the experiences they have always wanted from on-demand rides.
It’s not hard to see the results — the fast-moving startup harnessed mobile in order to increase mobile engagement. Riders can see where drivers are on their maps and follow along as the drivers come to pick them up and take them to their destinations. This engagement created an entirely new revenue stream for mobile services, for both Uber itself and many freelance drivers who now have the opportunity to earn income on the side. It also cut costs to improve profitability, as Uber removes the need to provide gratuity to drivers while also optimizing the routes drivers take for traffic and time of day, saving gas and mileage costs.
The full Aberdeen Group report is a huge resource for additional information on what innovation in mobile strategy looks like, along with relevant statistics you might need to build a case for embarking on the road to best-in-class.