Adaptive Experience Of Consumer
The definition of consumer loyalty has undergone a sea change. At the beginning of the era of consumerism, consumers were concerned about the quality of the product and how it had been useful in his or her life. Since the number of brands was also quite limited, consumer loyalty was mostly unwavering for products that were useful and long lasting.
After sale service was just evolving, but gradually, it too became a part of consumer experience. With an increase in competition, after sale service started making a difference. So, apart from usefulness and service life of the product, consumers were also concerned about the after sale support of the company or the brand. As competition increased, the concept of brand also came into being, and brand loyalty was born. But brand loyalty was much more than just being happy with product usefulness, quality and after sale service. It became more complicated.
Consumers are now concerned about the material used in the product. They want answers for questions like – does the brand care for the society, does it care for the environment and so on. So, they now want to have a deeper connection with the brand. They think about their experience with the brand and like to be considered as a valued consumer. They like being heard and entertained and want to get delighted. The onset of digital media, easy and fast internet and social media has changed the concept of consumer loyalty.
Artificial Intelligence And Its Cohorts
However, the change is not in the demand side alone. There has been a steady change in the supply side too. The onset of Artificial Intelligence, machine learning and big data is helping the supply side cope with the expectations of the consumer.
Digital media and internet commerce has resulted in a flood of data to the sellers’ end. All the aforementioned tools of modern technology are helping brands analyze this humongous amount of data and coming up with insights. In fact, these insights are often customized for individual consumers. This is helping the brands come up with innovative product and service promotion avenues. Analyzing the data is giving them a competitive edge.
It is helping them to differentiate between consumer experiences and create great experiences. In fact, creating great experience is the latest arsenal in the armory of brands. They have underscored the importance of engagement with their consumers. In an era of decreasing spare time and increasing choice of brands in the same product category, keeping the consumer engaged and entertained is the way forward. Now, brand loyalty depends on how well you can interact with your consumers. You need to cater to the innate desire of consumers for a more attentive, relevant and adaptive experience. This can ensure that brands can engage with their consumers on a more personal level and have a smooth and continuous interaction with them.
This can help brands heed to the warning signs from their consumers and stem loss of business to others. The time has come to shift from marketing your products and services to marketing the experiences of the consumer. The need of the hour is to continue engaging with consumer meaningfully and adapt such engagement to new trends and consumer interaction.
However, consistently meaningful experience counts on listening to the consumers more intently. You need to offer an adaptive experience to the consumers.
You need to know where and how the consumer shops; what technology they use to arrive at a purchase decision and more.
The consumer now is more demanding, capable, and self-aware. Their needs and desires are changing. Their needs and desires are also influenced by a variety of factors including a strong social media factor. In essence, it calls for an adaptive experience of consumer.
Adaptive Experience Of Consumer
Brands now need to pick up individual conversation with consumers. However, to do that you need to stay focused and adapt to individual’s changing needs and ideas. This is possible in the new data-driven digital world. Brands need to analyze data and bring out insights to provide a consistent and customized experience to the consumers. You need to engage with the consumer in every channel. Every digital footprint of the consumer needs to be taken into account in order to offer an adaptive experience to him or her.
Brands that can engage individual consumers in adaptive and relevant conversation can shape up consumer loyalty. Such data-driven, individual engagement can provide a consistent experience to the consumer across his or her digital footprint.
Data driven decision making models can narrow down the set of choices for a consumer by his previous decisions or purchase. So, it can suggest you something based on your previous choice. So, it is about providing customized information adapting to the needs of individual consumers. Survey has pointed out that about 61% of consumers would feel loyal to a brand that tailors its experiences to their needs and preferences.
The Right Balance Of Data Privacy And Using Data For Consumer Research
With data breach and loss of data integrity taking place with impunity across various consumer channels, a staggering 76% of consumers are now concerned about the integrity of personal information like name, address, phone number etc. They demand transparency from brands about the use of their data. But, they also search for products or services that fit into their daily lives.
So, brands need to understand and differentiate between the fine lines of recognizing individual needs and being transparent about using his or her personal information. You need to adapt to this trend. Consumers in general are not aware of the volume and type of data they are sharing online. Since people share their phone numbers, email IDs, name, gender, address, age etc almost on a regular manner, it is not easy for them to remember.
People share their private data to log into various social media apps, websites, forum etc, but are not quite aware of how this data is used and stored. In fact, over 76% of consumers are not aware about how brands use his or her purchasing history or browsing history data to customize offerings for him or her.
Adaptive Experience Offers Value
If a consumer has just purchased a product from an e-commerce site and the site has recommended to him another item, the consumer needs to know that the site is making use of his or her purchase and/or browsing history data. Consumers usually lack this sense, but as a company you need to take advantage of this situation. You need to make it look like offering value to the consumer.
The consumer would definitely be more concerned about the value of the product offered. You need to cash in on this proposition and offer value to the consumer. This is possible with adaptive experience when you listen to the consumer and follow him throughout his digital footprints. This will help you offer value to the consumer, and the consumer would have a feeling that the brand is listening to his or her requirements.
Consistent And Measured Engagement Across All Channels
However, to make adaptive experience a reality for consumers, you need to treat people as well as their private data with respect. Moreover, you need to do it consistently across all the digital devices and channels used by consumers. This will help you come to terms with the behavior of individual consumers.
It is like being in a party and watching everybody from a distance instead of trying to make friends with each one of them. You don’t need to make friends with the consumer. You just need to be present in every digital channel that the consumer engages in and get the data arising out of such engagement. You can use this data to predict his next move and next purchase. You need to deliver value to the consumer and at the same time delight the consumer. Such engagement can help you show that you know your consumer, respect them and also speak with them in one voice across all the digital channels.
Engaging the consumer across all these channels can generate a lot of data. You need to analyse this data and offer customized experiences to the consumer across all the digital channels that he or she is present in. If you can use this repository of data correctly, you can provide relevant services to the consumer when the consumer needs them.
Convenience, Relevance And Availability
You also need to offer convenience to the consumer. In our digital time-starved existence it is important that businesses offer products or services that offer convenience to the consumer. People are moving away from brand loyalty and have started identifying themselves with platforms and services that make their lives easier.
Brand loyalty is no more important. What is important is the extent to which a certain brand is relevant, convenient and available. Indeed, these are the three threads of consumer experience that brands now need to focus on. You need to make things available to the consumer with minimum effort. This is what can drive brand loyalty and this is possible with an adaptive experience of consumer. While convenience of use is certainly the deal maker, you also need to offer convenience of returns since this too is a key decision-making factor in purchase.