The Power Shift from Segments to the Individual Consumer
Today, 1.75 billion smartphone users are buying digitally and sharing their experiences with each other. An interaction with one customer can be magnified a thousand times over through social media. The expectations of these digital consumers are high and they are ahead of what retailers are offering. There is a huge opportunity to win customers by providing more targeted information to improve their user experience add value to their lives.
Companies can no longer market to segments of people in a broad demographic. The terabytes of data collected about customers must be used, to intelligently provide individual user experiences. Companies need to take “omnichannel to ommnicommerce” choices to the next level and provide an omnicustomer experience. Know your customers, advise them based on their tastes, location, and real-time experience, and give them options for making their purchase.
Imagine a world where you can post a recipe to Pinterest and your local grocery store asks you if you would like to add those items to your online shopping list. What if your car could direct you to the closest available parking spot to your destination? These experiences are not 10 years in the future. Innovative companies are providing these services today.
SAP and BMW have already prototyped applications using SAP HANA technology to provide targeted parking information and local discounts for the connected car.
The Société de Transport de Montréal (STM) combined their smart card travel data with a smartphone app allowing customers to indicate their personal interests to receive targeted offers based on their daily commute locations.
The power has shifted from the seller to the buyer who expects individual experiences and personalized choices. Read more in our CEO Perspective on Omnicustomer Retailing.
What are your thoughts on this trend and how are your companies moving towards the omnicustomer experience? Share your ideas with me @dvubroady