Less than 0.01 percent of the one million+ apps in the marketplace are expected to be successful by 2018*. We can look at those number as a lot of waste and failure, or we can look at them as a natural response to the vast, transformative capabilities mobile and cloud have presented us and the rate at which technology is advancing. I lean toward the latter. Those numbers also represent a lot of learning. That said, it is time for us to move on. We have proved that we can deliver technology with speed. At this stage, we need to bring relevance and trust to the forefront. In 2015, innovation without all three of these elements will be “bad strategy.”
As businesses have learned a great deal about mobile, big data and cloud computing in the past five or so years, so have consumers. Their level of understanding and expectations is far more sophisticated than when we began. It’s no longer sufficient that we provide a capability; consumers expect it to function at a higher level – to “know” them and serve up what is important to them. They also expect that we protect the information they provide to us or that is gathered in service to them.
They have learned that they like information at their fingertips; they like being presented with information that demonstrates we are listening– to a point. Responsible businesses must work to understand what that point is. We must also do a better job of ensuring the innovation we provide is secure, because some of the most important opportunities in innovation lie in areas such as healthcare, in which we can help improve quality of life and even save lives.
Doing so will require that we earn consumer trust by introducing innovation and properly vetting security simultaneously. Allowing for that process requires business maturity and can be tough for a company that recognizes the potential revenue lost in every delay. But, that vetting will ultimately lead to longevity. Remember the emails that were once a novelty and so exciting to receive? Today’s typical inbox is inundated with contents, links and options that exceed anyone’s ability to consume the information. Those companies that take a step back to deliver speed + relevance + trust will stand out and will be rewarded with sustained growth and consumer loyalty.
- Consumer Electronics Association (CEJA)® http://www.ce.org/News/News-Releases/Press-Releases/2014/Consumer-Demand-for-Apps-to-Remain-Strong,-Accordi.aspx