Now that we’ve accepted the idea of the IoT, researchers are starting to look at when, where, how, why and who will use it. Recent research shows that retailers are leading the charge to the IoT in the quest for better customer experiences. Specifically, they are using it to pull consumers into one of their channels, where they will entice them with products that have been contextualized and personalized for the customers’ gratification. Of course, theory and practice are two different things and the reality of customer experiences once the IoT has reached maturity will probably be considerably different.
CRMC Newsletter Feature Stories – 2014
Back-to-school shopping and holiday preparations are already looming large as the all-too-important second half of the year approaches. Funk or not, retailers can’t afford to sit back and wait for the tide to turn. Consumers can expect to see aggressive prices, targeted promotions both online and in physical stores, and new strategies at stores this fall, all in the name of turning traffic into transactions. Retailers are now able to go with their integrated and social media strategies to help fight this “[funk]”.
Gen Z entrepreneurs are digital natives with the ability to communicate their ideas through social media and sell their wares online. As these teens and their businesses and spending power grow, there are signs they may influence the way traditional retailers operate. According to Gutfreund, there is “a bit of a perfect storm” that has forged this trend. Gen Zers grew up experiencing the Recession, 9/11, and a different sort of parenting from their Gen X moms and dads, who consider it more important that their kids be resilient than feel special. The kids also are smart about technology because it’s always been part of their lives.
Two acts of corporate kindness hit the news last week. Both resonated, quickly becoming viral online and hitting the mainstream news. Acts of kindness are powerful. They resonate with your customers and have the potential to create a huge ripple effect through social and mainstream media. Actions speak louder than words. Eighty percent of our judgments about people, companies and brands comes down to two factors: warmth and competence. Are you willing to go above and beyond the transaction to create a Human Brand?
Douglas Van Praet reminds us that human decision-making happens at a level beyond conscious thought and outlines some of the surprising, hardwired human drives that drive decisions, and an ad’s success. There are patterns for effectiveness in our markets and culture because there are hardwired patterns in our nature and our brains. But there’s a gap between what scientists say and what marketers do. Strategies remain based on insights into markets, not truths about neurobiology. If we want to be experts in connecting emotionally we need to know what that actually means.