Day: April 19, 2014

Digital Transformation and the New Customer Experience

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We’re under attack! Social, mobile, real-time, cloud, big data…it’s coming at us all at once! Rather than miss out, many brands are jumping from trend to trend as a way of staying relevant in an increasingly digital market.

Facebook, Twitter, Youtube, Foursquare, Instagram, Pinterest…we’re covered. We have and had a strategy for a while now.

Mobile. Yep, we’ve got an app for that…plus we’ve got adaptive and responsive web design that makes old sites new again!

Snapchat…our brilliant strategy vanishes in 5,4,3,2,1.

Jelly? We’ve got the answer.

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Thinking lifetime (don’t break the chain)

The traveling salesman, the carnival barker and the old-time businessman can hit and run. Make the sale, cut your costs, move on.

Today, though, in the connection economy, two huge factors are at work:

1. Subscription. The lifetime value of a customer is high and getting higher. You might buy $50,000 from one grocery store over time. If you own an inkjet printer, it might come to a thousand dollars a year in toner expenses, with a profit margin approaching 90%…

2. Spreading the word. Every customer is also a media outlet and a publisher if she chooses to be. That means that unhappy news spreads far and fast (and that remarkable products and services need lower ad budgets).

But this seems to be almost impossibly difficult for companies to embrace. A simple example:

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