Technology and impatience

Girl magazine iPadWe are losing patience with technology and it is putting pressure on companies to provide services at record speeds, yet it seems as though it is never enough.

I always felt one of the greatest wonders of technological change was how organisations put services into the hands of the customer and we marvelled at this as great service – for example, checking ourselves in for a flight and printing our own boarding passes. They made us do the work and we thanked them for it.

I use a 10-second video to make my case of a young girl less than a year old who is given a copy of a magazine to keep her occupied. Within moments she is swiping the magazine because she thinks it operates like an iPad and when the magazine shows no sign of responding, the girl is crawling away having lost interest.

Today, the tables are turning on technology and we are becoming ever more unsatisfied – I thought technology was supposed to be the next utility but when Wifi was down for a while at the house this weekend it caused much consternation and one of kids declared they “couldn’t function.” When networks are down, we criticise the technology, when a store runs out of a product, we complain that they haven’t mastered big data and when online banking is not available we ask why they couldn’t update their systems when we are asleep.

I have seen “internet”, “wifi” and “phone battery” all added to Maslow’s Hierarchy of Needs and it isn’t always in jest. It is one thing technology progressing leaps and bounds to give us new ways of working and shopping and learning – but can it match our ever-increasing standards?

Think Different

Think Different

‘Think Different’ was created in 1997 to promote Apple, and what a company and set of products they turned out to be. The statement itself is never more relevant than today.

Because of the pace that everybody works, always connected, never stopping for breath, technology has allowed some companies to become lazy, their staff converted to order processors and order takers. But that doesn’t last forever.

How about using technology to buy time in our schedule, to give us 10% of our week back to think differently, strategically and long-term? Forrester tell us that 95% of data within organisations remains untapped and 40% of companies don’t target specific customer or visitor segments. How about using technology to create market segments of one and treating customers (and learners) as individuals with unique needs.

Segmentation is a key step toward meeting customers’ demands for more relevant experiences, and by 2018, Gartner predicts that organisations that excel in personalisation will outsell those that don’t by 20%. It’s the treadmill scenario – in this rapidly changing world, if you standstill, you go backwards.

Benefits of staying small

95 pc dataIn 1983, Theodore Levitt, economist and professor at Harvard, encouraged companies to “Think Global, Act Local,” as part of their globalisation strategy. Today that message is reinforced as we are told to stay small and nimble, and keep our ears to the ground by staying in touch with our customers and the wider marketplace (social spaces and listening to the conversation).

Technology allows us to do this, and yet a Forrester report highlighted that 95% of data within organisations remains untapped – we need to understand how to put this data to good use, and create market segments of one! One customer, unique needs.

I worked on a skills project with a global consulting firm who said that for the first time in history, customers are joined arm-in-arm with CEOs in setting strategy for their companies. The goalposts have moved. In a 2015 study that promoted 5 key digital marketing trends, Gartner stated that the purchasing funnel has been fundamentally broken – customers have moved from a discreet linear purchasing path to moving at their pace, when and wherever they want to. They also talk about the experience economy, and that we have to think less in terms of discreet steps in a standard campaign and instead think of every interaction over time as the experience.

We have to put technology to use, to facilitate and analyse this for us or we stand still, and today that means going backwards.

Internet of Things

smart-pill-technology-marketThe Consumer Electronics Show this month has led to lots of press on the internet of things, where every gadget and device is connected to the internet, and sending and receiving data.

Samsung’s Chief Executive pledged that every single piece of Samsung hardware will be connected to the internet within five years, including TVs and domestic appliances. This is very much science fact, not science fiction, and while many will yell is there no privacy left in this world, I would like to suggest my top 3, the first of which I presented for the first time back in 2008:

1. The kitchen – imagine if you are on a controlled diet and you decide to break the rules and cook a ready-meal in the microwave followed by sticky-toffee pudding. Your fridge sensors notice what has been removed from the freezer compartment and the microwave tells your fridge you are about to cook that high-fat, sugar-and-salt meal. The microwave declines your request. You are the system administrator of your kitchen, so you override the microwave and instruct it to cook the food. Your microwave obeys, but it then notifies the fridge, which as the central processing unit of the kitchen sends a note to your doctor and your insurance company, and now you are no longer insured.

2. Fruit & Vegetables – coming from a background of food, I always wondered why my father had to keep a box of fruit that was always bruised or damaged to one side. With RFID chips on the cartons plus tighter planning with transportation schedules, more fruit makes it to its destination intact and bad apples cannot influence the rest of the crate.

3. The health pill – my favourite of the three, which is a tiny pill that you take weekly that monitors your wellbeing and sends a weekly status check to your doctor over wifi via a traffic light system. If it displays green you continue as normal; amber and you are sent a text message asking you to make an appointment; if the doctor receives a red signal, you are called within the hour. Preventative action can save the health services millions and technology must be used to help facilitate change.

I am all for the internet of things because the possibilities are endless, I just think they could have found a more interesting name for it.

Every keystroke tells a tale

crunch2

I found the best definition of Big Data and I think it is worth sharing. It stated that big data is simply about joining the dots of all your data sources.

Amazon is a master of data – it believes it can send us our next purchase before we decide what it is, via what it is calling anticipatory shipping, based on a user’s shopping habits, age, income, even how long the cursor hovers over an item. I guess this is no different to thermostats from Nest Labs that learn from their owner’s behaviour over time.

This is my favourite tale because only data could have revealed the opportunity. Walmart, owner of ASDA in the UK, realised that prior to hurricane warnings, sales of torches increased, but so did sales of Pop-Tarts, the breakfast snack.

So as storms approached, as well as putting torches at the front of the stores, the managers also put boxes of Pop-Tarts at the entrances, and sales rocketed. No store manager would have ever worked that out unless they looked at the data and correlations of events and products. It is not what comes from individual data points that is critical here, but what they reveal in the aggregate.

Zynga, who own FarmVille and other social games, describe themselves as “an analytics company masquerading as a gaming company – everything is run by the numbers.”

I believe that big data could well be the next corporate asset and it is quite possible that it will be recorded on balance sheets in future. We shall see.

Technology is making it personal

Individual

There is a common thread around technology making marketing personal and I will try and summarise how I think this will play out.

I have presented my view on moving from mass production to mass customisation, how technology is driving a world which is more personal. Google captured this in a quite brilliant advert which stated: “You know who wants a haircut? People searching for a haircut.”  With technology facilitating an overload of information every day, how do we ensure our customers don’t get fed up of us sending them irrelevant messages?

IBM CEO Virgina Rometty has a great vision for her company which is worth sharing, because this captures where we are heading. First, Rometty believes data will drive every decision we make in future. Second, she predicts that companies will use their data to shape direction, products and services; and third that through data a company can cultivate one-on-one relationships directly with its customers.

Think of yourself as an independent coffee shop in a small town. Over time you will get to know your regular customers on a first-name basis. Eventually you will learn precisely how they take their afternoon tea or coffee and their preference for lunch. In conclusion, behave like a small company. Use your technology, and your data, to treat every customer as an individual.