We were discussing human senses going digital, and how we will be able to enhance our senses with the help from technology.
We speak about discovering opportunities to capture peoples’ emotions at scale and use them to inform your business decisions.
Adapting to values-based buying
Businesses are experiencing a significant move from a rational-based buying behavior towards a values-based one where customers move to brands with which they can relate and build a relationship with.
Gwyneth Paltrow shared her ideas on building a successful organization where your culture is your business plan. Culture however is an expanding term, what is inside your organization now also influences your customers.
Also the definition of a customer is experiencing a significant shift. Today, many companies are so eager to learn how to predict their customers that what is called the “The Keanu-Reeves role” has emerged, meaning that if you do not have an online personality you will be assigned one. Many are going so hard at designing online personas and optimizing towards these, that the real person, the real customer that they want to engage with is lost.
Emotions as KPIs
Whether it is in your internal culture, or in your communication with your customers, understanding what feelings and emotions arise can be the key to understanding the intrinsic motivation and intention behind certain actions.
Jared Feldman, CEO of Canvs AI, remarks that there are 42 main feelings that humans express on social media, and their goal is to make it possible to capture, identify, and measure these.
What does it lead to? Brands can (and should) create content based on a set of emotions that they want to trigger, ultimately allowing us to leave CPM* as a KPI for communication. Imagine defining your next marketing campaign or a certain interaction point in your customer journey as: 47% love, 30% passion, 13% goosebumps and 10% crazy.
* Cost per thousand impressions (technically, “Cost Per Mille”)
Clear Channel analyzed the mood in the Stockholm’s metro, digitally and through sensors, and displayed a corresponding art display.
The human body becomes the source of data
Consumers are not only using text to share their deepest thoughts about your business, but also their bodies. The signals that our bodies give off in certain environments and situations can tell an incredibly rich story and with new technologies that can retrieve these data points, at scale, we are opening the door to understanding and interpreting people as never before.
By listening to the tone of your voice, instead of what you are saying, or measuring the size of your iris, companies are gaining a deeper understanding of the relationship between how our body reacts and certain feelings we feel.
In China, we are already seeing supermarkets with cameras that interpret customers’ behavior in-store and soon we will be able to connect the shopper’s emotional state to their consumption behavior, and of course be able to present something perfect for just that occasion.
Our spaces will know more about us than we do and we will have a dynamic relationship with spaces where we work, train, heal
– Poppy Crum, Chief Scientist at Dolby Laboratories and an Adjunct Professor at Stanford University
Once we explore the feelings and emotions behind our customers’ actions, generating so-called experiential data points, we will want to relate these to more traditional business metrics.
The experiential data points are likely to be connectable to at least one operational data point making it possible for us to drill down from our financial targets to what feelings drive that specific measure and consequently how we need to adjust our marketing, content, interactions or communication towards our customers.
The challenge here lies in whether your organization can be bold enough to become truly customer centric.
Building an empathetic enterprise
If we can now understand the true feelings of customers, we can also create a much more empathetic relationship with the actual person, not the digital avatar. Interacting with your customer where they are emotionally, at any given point, and building a more empathetic and values-based relationship was something various speakers presented as a great opportunity.
This exemplifies that empathy can become a point of differentiation for products, services, recruitment, innovation and revenue creation. Ultimately it is something that makes your brand follow customers in their journey to more values-based buying decisions.
It will not take long before we see product tags with “Made in China” being changed to “Made with empathy”.
Volvo is introducing in-car cameras to read the driver’s eyes and face to prevent sleeping behind the wheel or driving under influence.
The starting point
To get to the point where you as an organization can interact with a new level of personal data, it is imperative to create a data-driven work place. Representatives from Tableau presented their view on a data driven organization, as one that prioritize data over intuition in decision making, where developing a coherent governance structure is necessary to develop other core competencies within the organization. Whether you want to use more real time data in your models or if you want to use experiential data, the competencies to do so will evolve from a clearly defined governance structure.
The notion of being a data driven organization has existed for a while, but in a survey made by New Vantage Partners among senior C-level executives 69% report that they have yet to become data driven and 72% still do not have a “data culture”. What is missing in these cases is reportedly not the hardware or the software, or even the data, but in 93% of the cases it is the identifying the right people and the right processes that is the obstacle. Focusing on this, there is a huge potential to unlock the value of better-informed interactions with your customers.
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SXSW is one of the biggest digital conferences in the world, and a global meeting place for the world’s most innovative technology companies and people interested in how disruption can transform their business and everyday lives. The event takes place during during 10 days each year and this year Cartina had the chance to be part of it.
This series consists of 6 global mega trends that business leaders, experts, innovators and disruptors talked about during the days in Austin.
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