The Wizard of Wall Street - Adopting Technology Early

Technology and the workplace are often slow to synchronise. In the early 1980’s even a successful ‘Wall Street celebrity’ by the name of Michael Bloomberg had the challenge of a lifetime convincing the financial world that moving from a paper based system of reviewing bond prices, to a 24 hour electronic newswire that could give pricing, opinion and projections at the click of a button was worth considering. The early adopters of the now infamous Bloomberg Terminal quickly realised how embracing innovative technology can give you the edge over your competitor. As the early adopters seized this unknown business technology, their competitors eventually caught on (as the price went up) and now no one could imagine the financial industry without that technology.

Forwarding to the present day, the focus of consumer technology today is mobile applications. From simple games to applications that can give your doctor information about your body from a ‘smart pill’ you swallowed at breakfast, applications have quickly evolved to make running your own life quicker and easier. But it does seem that big businesses as a whole are once again lagging behind on seizing new technological opportunities in the market. I am not talking about applications designed by companies as an advertisement for their brand; I am talking about the applications that will take their staff to a level above competitors, as the Bloomberg Terminal allowed Merrill Lynch to become one of the most profitable Wall Street firms of the 80’s/90’s. By allowing them the opportunity to understand the markets better than anyone else, performance enhancing mobile applications can now aid your employees to understand the customer better than anyone else. The only difference between my 80’s analogy and today’s applications is the former occupied a whole desk and needed a specially cooled room to allow it to work, the latter takes up about 1cm of your smart phone.

Basic Sales 101 is that once you understand the customer, you can tailor a product to their needs, meeting your targets whilst giving your customer the service they need. With Momenta’s mobile learning tool ‘I Get You Pro’ sales forces now have the opportunity to understand a potential customer in more depth and detail than anyone else; on top of that, all this information comes to your smart phone within 90 seconds of using the tool. ‘I Get You Pro’ uses all the elements of traditional psychometric analysis, modernises it, and gives the user a range of selling and managing techniques specific to the individual. This is similar to Bloomberg taking a piece of paper distributed by newspapers and making it quick and simple to understand, therefore more effective.

‘I Get You Pro’ is an example of how new technology can be harnessed to improve an individual staff members insight, assisting your company in understanding the customer more, leading to a positive relationship and reputation within your industry, and eventually helping to achieve more sales for your company.

Bloomberg allowed every employee to understand the markets more coherently than anyone else; on top of that the information presented to them was laid out so simply that even with no financial understanding you could see where the markets were moving. ‘I Get You Pro’ takes psychometrics, points it at the person you actually want to understand, and gives you the relevant information so clearly it can be used by anyone.

Early adopters of simple yet innovative solutions can beat their competition to the punch every time.  With mobile learning becoming one of the business solutions of the future, who will adopt the earliest?