It was only in 2005 when Amazon Prime was first announced to provide free two-day shipping based on an annual subscription fee of $79.
A novel idea that took the e-commerce world by storm and made it almost impossible for others to compete. It was, and continues to be, incredibly popular.
But it no longer “wows”.
It’s now expected that you get fast shipping. So much so, that Amazon is now focusing on rolling out one-day shipping in a more widespread fashion.
Because not only does faster shipping apparently translate into more sales, but also because customer expectations have changed. They want more.
Now let’s compare this to the world of accounting.
For example, I remember when I introduced Receipt Bank to a client 6 years ago to scan their receipts with their phone rather than dropping a shoebox of receipts off at the office. They were floored!
Today? Meh. It’s an expectation.
If you are not providing automation, analytics and a great customer experience (different from a great customer service as you’ll see below), then you are not meeting the basic customer expectations of today. And for those that are, customers are already getting used to it.
The world moves quickly!
And with that, let’s jump into this week’s Future Firm Weekly Top 5: