Companies don’t transform markets through incremental efficiency. Enterprises that have supported IT with conventional efficiency infrastructure will be obsolete by non-traditional infrastructures and revitalized by new consumer experiences. We’re talking about digital. Digital is not coming soon, it’s already here, everywhere around you-you just may not see it.
Digital is not an apple watch. Digital is not your iPhone. Digital is not your 54” flat screen.
Digital is a new experience. Digital impacts our employee’s perspectives, beliefs, values, and how you support customers-how you share the experience. Digital is how you feel when you are in a crowed mall at Christmas and people are coming at you from every direction. The rate you’re processing information is exponential, you are engaged! This is the new consumer experience.
Product, place, price and promotion all have their role. Conventional rules, staples really, that are simply arm length references. Companies no longer compete on product or service they compete on experience. Once safe by location, companies are now floating and are everywhere. The physical location of products or services has become everywhere. Consumers want to create their own path. Flow is the future. Don’t memorize the path, create your own experience, and we can create a custom path for your customer’s experience. Interrupting consumers to provide a digital moment or a mobile moment is a fade.
Today we must intercept, make contact, engage and connect our brand with our customers.
Why are they getting support? Are we predictive when it comes to behavior? Are we paying attention to how and why consumers engage? If we don’t, we don’t know our customers. If we don’t know our customers we don’t have intelligent metrics, measuring the right things to drive informed decision marketing. Providing only products or services, is no longer competitive. The value, is the experience.
It used to be simple, we compete on price. It’s simple really, we keep costs down and we’re competitive right? Today that’s no longer good enough to grow a business or build 10x margins. We have to go beyond price to exchange. With exchange a consumer gives you their attention for engagement and thus our company value is now created (enhanced network effect). Price has become exchange, the value of the experience.
Value is created through experience. Price still matters but it matters less.
Experience matters more, do we compete for the customer support experience today?
Promotion used to be enough – we’d use the powerful word of mouth or even take a chance with (gasp) a promotional strategy. This approach does not create enthusiasm. Promotion has become evangelism. We must create a mission and brand experience that inspires our customers to engage with us – and share their experiences.
Whether its nano devices, ingestibles, wearables, or interactive support, the consumer experience is being extended. Together let’s extend our business to envelop this enhanced customer experience leveraging our company’s existing strengths and capabilities to build for tomorrow.
Digital is more than engagement, it’s the experience you customers won’t ask for.
If you’re unsure how to start, just ask I’d be glad to illuminate the path towards 10x margins.
References
DemoClouds. (2015). System Integration (Online Image). Retrieved September 9, 2015, from http://www.democlouds.net/en/solution-systemintegration.php