If the digital customer experience (cx) revolution is about offering your customers a more tailored digital customer experience, it stands to reason that you need a good idea of what your customers actually want.
Wouldn’t it be great if the usage data coming from your products could not only tell you what products your customers favor now, but also what products they might want in the future?
This can only happen if you understand your consumers’ buying activities, in all channels in real time, and then market them the right targeted offer at the right time. It sounds simple, but it is a lot tougher than you would think. If you get it wrong – either with the product or by trying to engage with them prematurely - you could lose the consumer for good.
The Internet of Things is key here, but how do you make sense of the mountains of data is coming off your connected products at an alarming rate? Some data can be used to understand usage, some cannot. Some can help to determine what product features are important and what aren’t. Oftentimes data can tell you what components are valued by customers, or what features might be needed to entice new purchases.
Deciphering the data and then creating an unforgettable user experience based on that data is the challenge. A great example of this is Coca-Cola. The company launched self-service soft drink fountains which allow customers to mix their own drinks. The machines allow customers to add flavor shots to their drinks while they are being mixed and the data was monitored. Upon analysis the usage data revealed that the most popular flavor combination was cherry Sprite. Coke then launched Cherry Sprite as a ready-made, canned drink.
With these IoT-enabled machines Coke could experiment with new flavors without having to go through the time-consuming process of product development. It effectively improved the customer experience while skipping through SLAs, market research, R&D and product testing. Product development is an art and a science but when aided by IoT customer usage data it offers a higher probability of success.
This way, the three critical criteria of the digital CX model can be sped up, flying thought discovery, engagement and delivery. This gives you faster time to market as well as faster acceptance of new products.
As I have said before, B2B providers can only disrupt the digital customer experience by creating and delivering differentiated value, not novelties. The IoT is a critical enabler to joining the digital CX revolution.