In my recent newsletter and in a conversation I had with a business owner, I talked about how for years, businesses understood that with any product or service, customers would pay for one thing: convenience. But now because of technology, I’m noticing a huge shift in this once secure belief. And that is an added component, which is to: offer customers not only convenience but convenience that fits into their lifestyle.
Let me explain. At one point in history, our lifestyles revolved around gold and silver coins. Then with the invention of the printing press, our lifestyles revolved around paper money. Now, paper money is slowing being replaced with plastic. And today, even plastic is being replaced. By what? Our phones. Or as some call it, “the mobile wallet.”
Our phones are ingrained into our lifestyle. Think about how in most urban places (ex: New York City), people are on foot or bicycle and they don’t need their wallet because they don’t need their license. On the other hand, when I am driving, I notice runners with their phones, drivers texting (a big no, NO!) on their phones, and teens at bus stops talking on their phones.
Speaking of driving and offering customers a convenience that fits into their lifestyle. What I’m finding interesting is how organizations are identifying a customer’s lifestyle of using mobile devices to customize service. So for example: If you were involved in an auto accident, and (with a downloaded app from your insurer) you had the ability to contact a your insurance provider, as well as notifying them of your location. Then they could employ someone right away, and have them take care of your car, maybe even have it towed to the closest body shop, and all of a sudden the dynamics of a customer’s lifestyle paired with real-time customized service adds tremendous value.
What this means is the next time, you or your organization are thinking about a simple marketing strategy for increasing sales, loyalty and having epic organization growth, ask, how your brand can add value to the customer experience? What tools, habits and trends are most prevalent in your customer base?
Note: Starbucks is ahead of the curve. See here.