Responding to Customer 4.0 – where empowered and outcome-focused customers are at the centre of their own universe
The world has changed. Proliferating choice and hyper-connectivity mean customers are more empowered than ever. Technology and generational dynamics have changed the way people connect and relate, placing customers at the centre of their own universe – the network of people and organisations who inform, inspire and influence them.
For as long as there have been customers and providers, the power balance between them has tended to favour the latter – shaping and dictating the relationship through changing eras of customer interaction. Customer 4.0 sees a more empowered customer who can choose who helps them achieve their outcomes.
Your customers are likely living in a 4.0 world already. From fresh thinking market disruptors to adaptive mature organisations, the key to continuing relevance is the ability to constantly review how value is created and delivered to enable better outcomes for customers.
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start their purchase process without knowing what they’ll buy |
are loyal to brands when re-purchasing² |
trust the opinion of strangers online³ |
Sources: 1. Google, “Consumer Trends 2013” 2. McKinsey Quarterly, February 2017, when considering a re-purchase across 27 categories where shopping around was dominant 3. Neilson, “Global Trust in Advertising”, Sept 2015 4. Harris Interactive survey, indexed to 2016 5. Forrester, Customer Experience Drives Revenue Growth, 2016, June 2016 Forrester blog post by Harley Manning 6. Raconteur, "Reinvent or die in a ruthless world”, April 2015
To succeed with Customer 4.0, you need to understand and apply the new rules of engagement. We believe this starts with re-visioning your business model around your customer.
This means reversing the logic of brand and customer experience enticement, and deciding how you’re going to fit into your customer’s universe
Applying proven methods and approaches, we will help you innovate around your Customer 4.0.
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