Companies are finally beginning to understand that individual customer experience is more valuable than the overall average experience of segments of their customers. Making sure your site runs smoothly and people can identify and buy what you’re selling quickly and safely is now the base-level expectation for customers. Customers expect a smooth process and buying experience and if those are not provided – others are going to hear about it.
We predict that larger companies are going to begin funneling more resources into the individual customer experience. This could materialize in a variety of ways including but not limited to having more one-on-one person interactions like calling a customer regarding their recent purchase vs. an automatic email, more attention on answering user specific questions on social media (like live streaming, more on that later), and improving site function to make navigation easier than ever.
More than ever it’s very easy to analyze customer behaviors, patterns, movement, etc. and translate it into useful marketing insight. As each of us obtains more technology, we create more data points about our product usage and our possible future product usage. Companies are able to obtain more information than ever and use it to guide their marketing efforts.
This information is not new; however, companies like Target have been using this information as early as 2012. However, early adopters of this technology got themselves in a bit of hot water. Now that the bugs have been ironed out, for the most part, companies will begin to feel more comfortable shelling out the big bucks for your data points and use them to sell to you directly.
Our prediction is that, as companies begin to really utilize this content, you will begin to receive more targeted advertising. Some view this as an invasion of privacy, but because of the mistakes from the early adaptors and the insight gained from those mistakes, you most likely won’t even notice the change.
Live streaming has grown exponentially in the last year; however, most companies have not figured out how to use it to their best advantage. Live streaming is a very useful tool for interaction and immediate feedback with customers/segments – when you use it correctly.
With authenticity and individual customer attention on the rise, live streaming is a great way to kill two birds with one stone. One company who has gotten the hang of live streaming is Experian. Experian uses live streaming to talk directly to customers live and answer their financial questions. This helps customers feel like they are heard by the company and it gives a large corporation a friendly face that people can relate to.
Our prediction is that companies who are only using live streaming to announce and show off new products and events will begin to transfer that energy into one-on-one live interaction with their customers.
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