We’re entrenched in the experience economy – consumers expect experiences that meet them wherever they are.
Chuck Christianson, Senior Vice President of Sales, Account Management & Client Solutions at Connexions Loyalty, recently spoke about this topic at the SIFMA Asset Management Account Roundtable. SIFMA, the Securities Industry and Financial Markets Association, represents hundreds of securities firms, banks and asset managers.
For marketers, there are four critical elements inherent in any good customer experience: people, products, purpose and passion. Read more as we explore these new 4 Ps as a four-part series over the coming weeks. Now for part 2 below…
How do you create products that are thoughtful in design, peerless in quality and disappear into the experience? The founder of Twitter, Jack Dorsey, asked his team to think about the Golden Gate Bridge.
Why? As Jack Dorsey said in a recent interview with 60 Minutes: “Because we see the bridge as a perfect intersection between art and engineering. It has pure utility, in that people commute on it every single day.” But commuters don’t think about how it functions. They admire its simplicity and beauty.
So think for a moment: what is your Golden Gate Bridge?
Dorsey equates the bridge to technology. “When people come to Twitter and they want to express something to the world, the technology fades away. It’s them writing a simple message and them knowing that people are going to see it… it disappears because it’s so intuitive. It just works.”
Same thing with Dorsey’s latest invention, Square Wallet, which radically changes the way we pay for things. Square permits anyone with a phone to become a merchant. Dorsey said of the virtual credit card, “It feels great when it disappears. It feels like you’re taken care of.”
Connexions Loyalty runs loyalty programs for some of the biggest card issuers, travel companies and auto manufacturers. Our loyalty sites have seen a staggering 225 percent YOY growth in visits from mobile devices. Seventy-five percent of those mobile visitors are using a tablet to access the site. The majority of users are accessing the site from 6pm to midnight, meaning that many of them are multi-tasking—sitting on their couches, watching TV and surfing around on their iPads. And, surprisingly, 32 percent of mobile visitors are visiting the site daily. Those are engaged users!
Now think about how mobile products evolve. The smartphone is ubiquitous and there are many choices for mobile wallet platforms already in the market. Time will tell who emerges the leader in that area.
In the wearable computing realm there are rumors of Apple’s iWatch, a concept that would put all of this on your wrist. An interesting prospect in terms of security—it’s much harder to lose your watch than your phone. And, for the health conscious, it could have pedometer and heart monitor functionality. How seamlessly will all of this fade into the experience for iWatch wearers?
And, how seamlessly will your next product blend into your customers’ experiences?