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ICX Symposium: The future is here (it's just unevenly distributed)

There is a tidal wave of disruption happening across every industry with the intersection of technology innovation and fast-changing customer expectations, and today's business has to respond quick and fast to avoid being drowned out of business.

From left: Daniel Steere, Jonathan Crabb, Scott Wozniak

October 29, 2015 by Judy Mottl — Editor, RetailCustomerExperience.com & DigitalSignageToday.com

There is a tidal wave of disruption happening across every industry with the intersection of technology innovation and fast-changing customer expectations, and today's business has to respond quick and fast to avoid being drowned out of business.

It's a challenge that can't be ignored and demands resources, futuristic thinking and new customer-facing strategies. Those that look the other way may easily end up where Kodak, Blockbuster and the taxi operators landed: pushed from market leading perches or as, in the case of Blockbuster, out of business completely.

Companies that meet the disruptive wave head on not only have a tremendous opportunity to expand business, spur growth and boost the brand they'll also drive customer loyalty, increase the consumer base and achieve operational efficiencies.

They first step, according to experts, is not getting knocked down or sideways by the unstoppable tsunami while protecting necessary human interaction when providing services and products.

That was the collective message from three customer experience experts in the opening keynote at the ICX Symposium kicking off Monday in Atlanta. The panel featured Daniel Steere, principal at Steering Ventures, a boutique strategy consulting firm; Jonathan Crabb, manager or order capabilities, HomeDepot.com; and Scott Wozniak, manager leadership development, Chick-fil-A.

The session was the first of five in an event that is designed to help B2C brands gain actionable insights on applying effective tech-based customer engagement strategies to their operations.

Each event in the ICX Symposium series focuses on a single topic, and the Atlanta event's purpose boils down to giving attendees practical steps for using emerging technologies to secure success for the future.

The first session's panelists related a few horror stories during their presentation, called "The future is here (it's just unevenly distributed)," including how Instagram, a 5-year-old online photo sharing app, dethroned legacy photo and film titan Kodak in the photography business, the deadly blow digital media player Netflix delivered to BlockBuster, and how Uber is forever changing the transportation industry and may soon bury the term "taxi" from the global lexicon.

Even stalwart industries, such as the automotive business, are under seige by non-traditional competitors (Google, Apple, Tesla), which are using new technologies to drive innovation and boost the customer driving experience.

Such scenarios will keep happening and happening fast across all industry verticals. The good news is that it's not too late to avoid such predicaments. The key is to respond now, respond fast and embrace the technology evolution while holding strong to the ultimate goal of enhancing the customer experience.

"Customers' expectations are growing as companies innovate," explained Wozniak, using the example of how the Disney "fast pass" at its amusement parks forever changed consumers' expectations when it comes to enjoying such entertainment. The fast pass is exactly what it says — no waiting in hour-long lines for that three-minute rollercoaster thrill. Once a consumer enjoys such an option there's no going back, Wozniak said.

"Customers can't unexperience a certain level of service. You need to ask yourself how your company is meeting customer expectation today compared to five years ago," he said. Another example, pointed out the panel, is how the Ritz Carlton pared down registration waiting time from four minutes to just 20 seconds using new technology.

But the panelists also warned it's not a matter of just slapping up a slew of new technology; the human factor must be paid attention to, as customers now expect a much more personal and customized interaction when shopping or dining or browsing.

That's exactly where Kodak went wrong, noted Wozniak. "They got distracted by technology and forgot it was about the people. It's about technology but also about the fundamental human desires."

The experts offered up tips and advice on how to move fast and yet move in a pragmatic and cost-effective fashion. One approach is to bring on "futurist" consulting services that can help a company identify where best to enhance the customer experience and establish a strategy and plan. Another approach is establishing a small tech innovation team in house that won't' be bogged down with corporate bureaucratic policy and obstacles and can be nimble to launch small pilots to examine feasible approaches.

"Try out new innovations," said Steere, advising companies and businesses to deploy explore and assess the current customer experience in order to improve it and personalize it.

"It doesn't have to be an all-digital push, it should be a little of both, digital technology combined with human interaction aspects," he said.

Steere suggested that attendees ask a simple question in the quest to avoid the ongoing retail industry tsunami that has brought down powerful brands and retailers and will continue to do so:

"Who is your Instagram? You need to worry about the competitor you can't see."

About Judy Mottl

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Judy Mottl is editor of Retail Customer Experience and Digital Signage Today. She has decades of experience as a reporter, writer and editor covering technology and business for top media including AOL, InformationWeek, InternetNews and Food Truck Operator.

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