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Innovation

A Cautionary Tale

Every day there’s another article about AI and its power of personalization. They’re not wrong. As customers hand over more and more data and the technology to decipher that data improves, they expect brand interactions to be more personalized. But first you need to earn enough repeat business from a customer to get accurate data for personalization. Consistency transcends the bells and whistles allure of personalization. Consistency is elemental.

In a world with more brands, channels and customer touch points than ever before, customers are inundated with the new and different. The more we flood them with change, the more they long for consistency. A recent Salesforce report on the “STATE OF THE CONNECTED CUSTOMER” revealed that 81 percent of consumers expect the same level of service every time they interact with a company across different channels. AI helps you combat the challenges the digital revolution created; it creates consistency in even the most inhospitable environments. And when you deliver consistently, customers are happy and they keep coming back.

Blockbuster wanted customer growth as much as any other business. So why did Redbox and Netflix send them to the great beyond? Because Blockbuster didn’t want to change in the ways necessary to scale and reach a new kind of customer that wanted an innovative new rental experience.

It’s time to take the leap. We can learn a lesson from our old pal Blockbuster about what it looks like when innovation stops – someone else grabs the market share.

Read more here: http://sclhs.in/jNZbPR