The Art of the Possible: Reimagining the Future of Customer Experience
“Imagination is everything. It is a preview of life’s coming attractions.” Albert Einstein
TL;DR Summary?
The Consumer Electronics Show, better known as CES, is the preeminent global tech conference in the world that showcases the latest consumer product and technology innovation. Held every January in Las Vegas, it’s regarded as one of the most influential tech events in the world where next-generation technologies like the latest consumer electronics, robots, and cars are introduced to the world. In the 2020 show, just before the global pandemic, innovative gadgets like a Professor X-esque mobile chair, a foldable screen tablet computer, and a robot ball that doubled as a smart home device and a pet companion, were among the most intriguing products introduced that year. However, the Japanese carmaker, Toyota, had something quite novel to reveal to the world 一 and it wasn’t a car.?
Toyota’s President and CEO, Akio Toyoda (grandson of Toyota Motors founder), was introduced onto the massive stage in the Las Vegas Convention Center where the week-long event is held. Wearing a fitted black suit with thick, black-framed glasses, he started talking about the future of automobiles and the car maker’s focus on connectivity, autonomy, mobility, and electrification. That wasn’t necessarily unique for Toyota, but as he paced across the stage, speaking actively with his hands, it was becoming apparent he wasn’t there to reveal the latest in car technology. No, he wanted to talk about a vision of the future beyond cars. He started to talk about a future that imagined the possibilities of artificial intelligence, robotics, material sciences, and sustainable energy can offer the world. In a dramatic build up, Toyoda finally unveiled the big news:? Toyota was building an entire city 一 a “smart city” of the future.?
This futuristic prototype city is named Woven City. It’s going to be built from scratch on a 175-acre repurposed lot in the picturesque foothills of Mount Fuji, about a two-hour drive from Tokyo. The futuristic city would be a fully connected ecosystem completely powered by renewable “green zero-carbon hydrogen” energy and enabled by future technologies such as autonomous vehicles, service robots, smart buildings and a digital operating system that will power its entire infrastructure. Picture the city in the movie Blade Runner but with daylight and eco-friendly buildings. It will be home to more than 2,000 residents who will live and work in the city surrounded by a combination of the natural and man-made ecosystem, including native vegetation utilizing hydroponics and a large central plaza where people can gather. It will have a transportation infrastructure that will include three types of areas 一 one for autonomous cars, another for bikes and scooters, and the third for walking and running. The three areas will be woven together to form an organic grid pattern, hence the name Woven City. The smart homes will be outfitted with solar panels and contain robotic systems and sensor-based AI to carry out daily chores such as restocking the fridge, throwing out trash, and monitoring the health of those living in the house. The buildings will be made of carbon-neutral wood to sustain a net-zero carbon footprint.?
“If my mind can conceive it and my heart can believe it 一 then I can achieve it.”?Muhammad Ali
The mission of Toyota’s ambitious Woven City is “Building the future fabric of life in a city as a test course for mobility.” It’s imagining the possibility of a new future that aims to make people’s lives easier and happier. As Toyoda further explained in an interview: “As a global society we need to come together to heal, grow, learn, and create new possibilities for a collective future. It is only through partnership and collaboration that we will realize the dream of not just mobility for all but a better quality of life for all,” he said.
Companies like Toyota who are imagining the future, use the power of visualization to explore the art of the possible. It turns out that the more we visualize a desired outcome 一 and the more detailed and authentic the visualization is 一 the more we’re likely to achieve it. Athletes like Tiger Woods and Muhammad Ali are famously known for visualizing their matches before they actually perform. As Muhammad Ali once said, “If my mind can conceive it and my heart can believe it 一 then I can achieve it.”?
We all have the power to visualize. We have the capacity to imagine scenarios in our heads of what we want to achieve and then set out to accomplish the task. We can play out multiple scenarios in our heads like a pilot simulating a flight before flying a real plane, or like a free soloist rock climber visualizing every move, sequence, and foothold ascending to the summit. In other words, we already possess the visualization tools we need to imagine the future. We just have apply them intentionally when imagining the outcomes we want, and then work to bring them to life.?
That power of visualization can be used to imagine the ideal experience for customers. By imagining the ideal experience you want your customers to have by visualizing it, seeing it and feeling it, you’ll be able to deliver on that experience when you execute it in reality. But what does the future hold for customer experiences? As new technologies emerge and customer expectations continue to evolve, the possibilities for creating truly memorable experiences are more exciting than ever before.
So what are some of the key trends that are shaping the future of customer experiences? Here are a few of the most important ones to keep an eye on:
Hyper-personalization: The Key to Unlocking True Customer Loyalty
Today's customers are inundated with marketing messages from every direction. As a result, generic, one-size-fits-all experiences are no longer enough to stand out. Instead, customers expect personalized experiences that feel tailored specifically to them.
But what does hyper-personalization really mean? At its core, it's about using customer data – from past purchase history to browsing behavior to demographic information – to create experiences that feel customized to each individual customer. This could mean anything from personalized product recommendations to customized messaging and content.
Of course, hyper-personalization is easier said than done. It requires businesses to have access to a wealth of customer data, as well as the technology and resources to analyze and act on that data in real time. But for businesses that are able to pull it off, the rewards can be significant: according to research by McKinsey , hyper-personalized experiences can lead to a 5-15% increase in revenue and a 10-30% increase in marketing spend efficiency.
Seamless Omnichannel Experiences: Connecting the Dots Across Every Touchpoint
As customers increasingly interact with businesses across a wide range of channels – from social media to email to in-store visits – it's becoming more important than ever to create a seamless, cohesive experience across every touchpoint.
This is where the concept of omnichannel comes in. Unlike multichannel, which simply means having a presence on multiple channels, omnichannel means connecting the dots between those channels to create a unified, consistent experience for customers.
To achieve this, businesses need to have a deep understanding of their customers' journeys and the touchpoints they interact with along the way. They also need to have the technology and resources to collect and analyze data across those touchpoints, and the ability to use that data to deliver relevant, personalized experiences at each step of the journey.
The good news is that businesses that invest in omnichannel experiences are likely to see a significant return on their investment. According to research by Aberdeen Group , companies with strong omnichannel strategies see an average 9.5% year-over-year increase in annual revenue, compared to just 3.4% for companies with weak omnichannel strategies.
The Rise of Augmented Reality: A Game-Changer for Product Experiences
As augmented reality (AR) technology becomes more widespread and accessible, it's opening up entirely new possibilities for customer experiences. From virtual try-ons to immersive product demos, AR is poised to revolutionize the way customers interact with products and brands.
One of the key benefits of AR is that it allows customers to visualize products in a way that was previously impossible. For example, a furniture company might use AR to allow customers to see how a particular piece of furniture would look in their living room before making a purchase. Or a beauty company might use AR to allow customers to try on different shades of makeup virtually, without ever having to step foot in the store.?
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As AR technology continues to improve and become more accessible, it's likely that we'll see more and more businesses leveraging this technology to create truly unforgettable product experiences for their customers.
Chatbots and Artificial Intelligence: Automating Customer Service
As more and more customer interactions happen online, businesses are turning to chatbots and artificial intelligence (AI) like Chat GPT to help automate customer service. Chatbots are computer programs that use natural language processing (NLP) to interact with customers via chat interfaces. They can help customers find the information they need, answer frequently asked questions, and even handle simple transactions like booking a reservation or placing an order.
AI can also be used to analyze customer data and provide insights that can inform product development, marketing strategies, and more. For example, businesses can use AI to analyze customer feedback and sentiment to identify areas for improvement and tailor their products and services accordingly.
The benefits of chatbots and AI are clear: they can help businesses save time and resources by automating repetitive tasks, while also providing customers with fast and efficient service. According to a study by Oracle , 80% of businesses plan to use chatbots, and the chatbot market is projected to reach $9.4 billion by 2024.
Social Media: The Power of Authenticity and Connection
Social media has become an integral part of many customers' lives, and businesses that can leverage this channel effectively have a huge opportunity to build authentic connections with their customers.
But social media is about more than just posting updates and responding to comments. To truly stand out, businesses need to create content that resonates with their audience and tells a compelling story. This could mean anything from sharing behind-the-scenes glimpses of the business or its employees, to highlighting customer success stories, to partnering with influencers or other brands to create engaging campaigns.
In addition to creating content, businesses also need to be responsive and engaged with their followers. This means responding promptly to questions and comments, and showing appreciation for positive feedback.
The payoff for businesses that can master social media is significant. According to research by Sprout Social , 86% of consumers prefer an authentic and honest brand personality on social media, and 71% are more likely to recommend a brand to others if they have a positive social media experience with that brand.
The Internet of Things (IoT): Connecting Products and Services
The Internet of Things (IoT) is a network of physical devices, vehicles, home appliances, and other items embedded with electronics, software, sensors, and connectivity, which enables these objects to connect and exchange data. This technology is set to revolutionize the way businesses create and deliver customer experiences.
With the IoT, businesses can create smart, connected products that can communicate with each other and with the cloud to provide personalized and seamless experiences for customers. For example, a smart refrigerator can automatically reorder groceries when supplies run low, while a smart home security system can detect when a customer is away and adjust settings accordingly.
But the IoT is not just about creating smart products. It's also about using data to create more personalized and contextually relevant experiences for customers. For example, a retailer might use IoT data to track a customer's in-store behavior and preferences to offer personalized promotions and recommendations.
One of the biggest challenges of the IoT is managing the vast amounts of data that these devices generate. But with the right tools and technologies, businesses can turn this data into insights that can drive better customer experiences.
The potential for the IoT to transform customer experiences is huge, and we're only just scratching the surface of what's possible. As the IoT continues to evolve and become more ubiquitous, businesses that can effectively harness this technology will have a significant advantage in creating memorable and impactful customer experiences.
The Metaverse: Creating Immersive Virtual Worlds
The Metaverse is a term used to describe a collective virtual shared space that is created by the convergence of physical and virtual reality. It's a fully immersive and interactive digital world where people can interact with each other and digital objects as if they were in a physical world. With the rise of virtual and augmented reality technologies, the Metaverse is becoming more of a reality than ever before.
Businesses are starting to explore the potential of the Metaverse as a way to create truly immersive and engaging customer experiences. For example, a fashion retailer might create a virtual store in the Metaverse where customers can browse and purchase clothes using virtual currency. A car manufacturer might use the Metaverse to allow customers to take virtual test drives of their cars before making a purchase.
The Metaverse presents a unique opportunity for businesses to create experiences that go beyond what's possible in the physical world. But it also presents significant challenges, such as developing the right technology infrastructure, ensuring data privacy and security, and creating compelling and engaging content that resonates with customers.
Despite these challenges, the Metaverse represents a fascinating and exciting new frontier for businesses to explore. As the technology continues to evolve and become more accessible, we're likely to see more and more businesses embracing the potential of the Metaverse to create unforgettable customer experiences.
Putting It All Together
As the business landscape continues to evolve, the future of customer experiences is both exciting and challenging. To stay ahead of the curve, businesses need to embrace new technologies, understand their customers' needs and preferences, and be willing to adapt and iterate as customer expectations continue to evolve.
From hyper-personalization to omnichannel experiences to augmented reality, the possibilities for creating memorable customer experiences are more diverse and exciting than ever before. By staying focused on the art of the possible, businesses can unlock new levels of growth, engagement, and loyalty that will drive success for years to come.
Louis Cho?is a globally experienced Marketing, Data & Analytics, and Customer Experience Executive with 20+ years of experience in leveraging data, digital and technology to drive customer loyalty, engagement and growth.