Wednesday, October 12, 2016

Internet of Things - The Modern Connected Data-driven Customer Journey


How can Internet of Things (IoT) and Analytics creating compelling digital customer experiences and customer journeys while increasing business agility?


With 86% of customers willing to pay more for a great customer experience, and 89% to switch brands due to a poor one. Internet of Things and Data-driven experiences offer a pathway to business performance.

Internet of Things and data analytics are fundamentally redefining customer intimacy and brand affinity, changing how we compete for customer attention, and even how we operate our businesses.
Accredent's business and connected customer journey(tm) approach can increase market share, customer satisfaction and profitability.
Internet of Things (IoT) is radically changing the nature of consumer experiences and brand marketing. Turning physical venues (retail, hotels, offices, stadiums, malls, casinos, concerts, events, hospitality) into real-time engaging customer experiences. Turning products from simply physical "things" into platforms for delivering services to deliver customer experiences. For consumer goods - online experiences, retail space experiences, and post-purchase product usage experiences combine to create a two-way dialogue pre-purchase, post-purchase and back again across the entire customer journey in a way that was never before possible. Data can be collected to understand patterns of behaviors and wants and needs, and used to deliver contextual and detailed real world customer experience to those wandering the space or using the product, or rather the services delivered by the product platform.

Accredent's "IoT Connected Customer Journeys" at Innovation Conference

Physical Space Customer Experience

Disney Magic wristbands, Taylor Swift 1989 tour wristbands, and other early pioneering efforts proved that brilliant new physical space customer experiences can be created, and the pain points within existing experiences be removed by Internet of Things. This capability has expanded with the advent of proximity beacons and digital displays which enable hyper-local, -contextual, - personalized experiences in physical spaces not dissimilar from that offered by the best e-commerce sites and internet 2.0. Building understanding of behaviors and wants and needs, and delivering contextually detailed physical world experiences to match them. 

Beacon, RF sensors and digital displays' ability to generate new business from passersby and loyalty scheme incentives, to turn physical spaces into subtle and overt two way conversations, to eliminate pain points and process bottlenecks, and to deliver richer customer experiences and associated brand value have driven rapid adoption.

Product Customer Experience

While the brand experience within physical spaces is becoming more like web and e-commerce spaces, products and services themselves are also changing to be more like smart phones and apps. Products are becoming smart service platforms offering hyper-local, -contextual, -personalized services, and delivering deep insights into behaviors and preferences, and wants and needs, to learn contextual insights and deliver new interactions for better services, compelling customer experiences, frictionless customer journeys, interoperability with other product/service experiences and increase spend and loyalty.

Integrated On-line, App, Physical Space and Product Customer Experience

New modern connected digital experience and customer journeys form as on-line, app, physical space, and product customer experiences merge seamlessly into one experience - pre-sale, post-sales, and re-sale - across the entire brand journey. Each touch-point capturing data for customer insight and each delivering better customer experiences based on that insight. All the while introducing new levels of business agility. This is the where all business is migrating in one form or another.

The new internet-of-things based connected customer journeys of interlinking on-line, app, physical and product touch-point insights and customer experiences is a complex one. Difficult to get right, but important to do. Done right, the process of creating the new modern customer journey is a never ending one that always is capturing insightful data, and using that data to learn and create continuously improving customer experiences and business processes. Done wrong, the process of creating new modern customer journeys can place physical venue and product innovation into painful Sisyphus-like proof-of-concept (PoC) design and revision - a 2017 Cisco study shows about 60-70% of IoT and data projects end their lives in this kind of "PoC Hell" - and ultimately end up in the same junk pile of history that one finds Google Glass. Get it right, your company and your future depends on it.
In 2018, 67% of organizations plan Internet of Things (IoT) initiatives. Just 1.5% of executives have a clear vision of what IoT will do for them.

A well executed customer-focused IoT connected data-driven business strategy build upon an effective framework has proven to separate those who win the IoT game and move past Proof-of-concept (PoC) from those who lose it or get stuck in PoC Hell.

Accredent IoT Connected Data-Driven Business & Customer Journeys

For nine years Accredent has been distilling ”What the Best Companies Do To Create Successful Internet of Things Data-driven Products and Services?" into strategy, innovation, monetization, transformational frameworks for digital business development.
Utilizing its IoT Connected Data-driven Customer Journey(tm) and Business frameworks and in-depth use cases Accredent helps companies to increase customer satisfaction, profitability and market share.

Accredent enables companies and organizations to quickly transform customer journeys to digitally IoT connected data-driven ones that deliver the compelling customer experience and business agility required of modern business.
Contact Us to learn more about how we can help you create digital experience, frictionless customer journeys with compelling customer experiences, and deliver transformational insight and new levels of business agility to your organization.

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