WINNING THE RACE FOR RELEVANCE

LONDON, 26TH SEPTEMBER 2024

Speech Summary

Change in all forms presses down on every industry. Technological, Economic, Social, Regulatory and most critically from Customer Expectations themselves. To survive (and thrive) we need to exert a greater force against these changes, otherwise we will be crushed by it. The Future of Commerce is uncertain, and we need to have the courage to swim off in new directions.

It would be arrogant of us to assume that we can continue to deliver products and services in the same way over the next 10 years as we have over the past 10, as arrogant as Kodak thinking digital photography would be a fad, or Nokia feeling their scale would protect them against the iPhone. Arrogance had only half the required lifeboats on board the Titanic. Arrogance kills entire brands and industries, and it could kill your business also. As the customer expectations change, so must we.

Staying relevant is key to survival and so we aim to focus on what customers value. It is in exploring and understanding the values of the modern customer connection, we can build a business for future success.

Take your eye off what customers value and you run the risk of becoming irrelevant. We discussed four key values on the day

01 | Blue Dot Centricity

Technology has always enabled the advancement of commerce. From product and channel development to consumer expectations, technology has both catalysed and enabled change. In recent decades, the internet, broadband, WiFi, 4G, and the Smartphone have all step-jumped and catalysed consumer connections.

As AI, Metaverse, Robotics and the coming of age of Gen Z and Gen Alpha regarding consumer expectations converge, we are set for significant change. The AI conversation needs to be less about algorithms, deep fakes, data, and natural language models, and more about how brands need to prepare for a new way of doing business.

While AI will bring countless new touchpoints, it is about leveraging the new technologies to build more efficient, exciting, and engaging customer connections. Exploring the sociological, behavioural, and cultural history and impact of technology and AI, this keynote demonstrates that it’s not just the rules that are about to change, it’s the entire game.

02 | Expectant

Customers expect it to be right, first time, every time. There is no room for inconsistencies in how a customer is treated.

Today’s consumer demands the best, first time, every time. No longer are we delighted with expected levels of service. You must push past satisfaction and expectations into the ‘excite & delight’ space if you are to cut through with today’s customer.

Think about how to delight your customer in unexpected ways. It is only through going beyond expectations that we build brand advocacy and tribal belonging, the empowered customer. You need to be different from others in your industry.

Remember those Harley Davidson and Red Bull tattoos – that is what we all want. An empowered consumer who will go out and sell your product/service for you.

03 | Phygital

We now live in a ‘Digital First World’ – a world where we all reach for our digital devices first to answer any question or solve any problem. The digital Immersion is only going to increase with the coming Metaverse reality and as AI and Robotics converge alongside consumer expectations.

Every brand proposition has to be part Physical, part Digital. Customers now expect digital to drive their experiences. If you are not leveraging your assets on digital, you are 50% invisible as a business today.

AI is set to change every industry. It will unleash a new set of consumer expectations around hyper personalisation and relevance for consumers. Be ready for fourth dimension connectivity.

04 | Relational

Ultimately, building Customer Lifetime Value and Customer Intimacy is about building Relationships. It is about moving away from the ‘transaction’ and moving towards a model that is based around putting the Relationship at the centre.

It is only when emotions are engaged do we build relationships, when the customer ‘feels’ something. We need to become a trusted partner in a customer’s life, not just another ‘brand’.

The more we embed emotional response and authentic, compassionate customer interactions in the customer experience, the more we build that bond with a customer. We achieve both scale and depth of connection.