Skip to main content

Blog

4 Mins to read

03 Apr 2020

How to Score It in the Digital Experience Economy

We love to talk about journeys. Exchanging travel stories, and the journeys of our lives can build a connection, and turn strangers into friends.

With the virus and lockdowns, you and I, more than ever, have gone completely digital to carry out tasks of daily living – grocery purchases, food deliveries, banking transactions, and uhm.. perhaps, job applications?

Common to each of this task is the online experience a.k.a journey. Beyond wanting the goods and services, a compelling and memorable experience sweetens the deal. It is the icing on the cake.

It is about Emotions

The “Experience Economy” is not a new term.

In 1998, Joseph Pine II and James H. Gilmore first offered this idea of “staging the experience” to the world in a Harvard Business Review article.

Fast forward to 2020, that wisdom speaks truth in volumes. Today, a positive digital experience is an expectation. The Conscious consumer values the experience as much as (or even more) than the product/service. In the space of online retail, this means that we have to figure out how do our customers feel about the overall digital experience.

Breaking it down further, what defines the customer’s experience is the customer’s journey.

How the customer would remember his journey is how he feels about his journey i.e. his emotions.

In short, it’s all about evoking the desired emotions when we are connecting with our fellow tribe in the digital space.

Time well-spent and Time well-saved

 

We all have 24 hours a day. No matter how much technology advances, this fact isn’t going to change (we hope). Technology makes our lives better and it also changes consumer behavior.

Today, customers choose a product based on the digital experience they get when they engage with a brand. Making it Simple for the customer is the difficult part. At each step of the user journey lies the possibility of a pause moment where the customer can re-consider his intention to buy or convert. Hence, it’s a no brainier that the longer the journey, the more opportunities you are offering for a potential purchase decision to be hijacked.

We like to define our experiences, that’s how we share them with our friends and family. If you think SIMPLICITY, FLEXIBILITY, POSITIVITY, your head is in the right place. In short, make it worth a customer’s time to engage with your brand online.

And, one more noun, CONTROL. In a digital experience economy, we want to put the customer in the driver’s seat, and then observe the interactions and behavior that emerge once they have control.

Ultimately, use these observations to design and enhance the customer journey that will fuel the right emotions.

So, how simple is SIMPLE?

If you have grabbed a lunch or a snack at AMAZON GO, you know how swift the process is. It is as long as you take to decide on what you want. Like, seriously.

There’s no lines, no standing in queue, no check-out counters. You simply walk in, grab what you need and go. The only thing the store has is hundreds of cameras to track your every move. So, be sure to smile.

Before you enter Amazon Go, you must install an app. AMAZON GO uses sophisticated recognition software and artificial intelligence to figure out what you have grabbed and charge the right bill to the right customer. The weight sensors on the shelves know when you have taken something, and when you’ve changed your mind and put it back.

Explore the Possibilities of Online Retail

So, how do we translate simplicity and flexibility into online, and create the WOW moments?

1. For starters, can we pay with our smile, face or voice?

The online space needs to hasten its pace to make facial/ voice payment technologies more ubiquitous and acceptable. China has its own version of self-service supermarkets and Chinese shoppers are ahead in embracing facial recognition technologies.

For example, for a one-time purchase, do you want your customer getting up to retrieve that credit card, punching in the long string of numerals and clicking through the personal data fields. That one-time purchase, if made simpler and faster, can draw customers to return.

2. Next, how about automated/ relative pricing?

Can prices be relative based on likes, demand, and loyalty? If you fall in love with an enchanting dress that doesn’t quite capture the imagination of most ladies, can you get it at a cheaper price now, instead of waiting for that seasonal discount? Is it possible for prices to fluctuate in real time based on demand and supply, just like ride sharing?

There’s a whole realm of possibilities to work with online.  At Fenzo, we have a range of digital solutions, fully customization to suit your business needs. Let our team help you. Start experimenting now and you may find yourself leading the trend!

 

Recent Posts

4 Mins to read

14 Oct 2022

40 Reasons Why Social Media Marketing is Important

Read more

4 Mins to read

11 Oct 2022

Understanding Social Media KPI’s

Read more

4 Mins to read

7 Oct 2022

How Can Social Media Improve Your Seo?

Read more

4 Mins to read

5 Oct 2022

7 Things You Should Know About Linkedin Advertising in 2022

Read more

4 Mins to read

1 Oct 2022

15 Tips for B2b Social Media Marketing

Read more

Archive

  • 2022
  • 2021
  • 2020
  • 2019
  • You may also be interested

    4 Mins to read

    14 Oct 2022

    It’s 2022, and people know the power of the internet. Today, the marketing landscape has evolved from TV to Facebook ads. With over 4.26 billion people using social media platforms worldwide, it…

    5 Mins to read

    11 Oct 2022

    Social media engagement is inevitable. Companies are hugely investing in their social media marketing strategies. There are world class social media management companies in Singapore who can help your company…

    4 Mins to read

    07 Oct 2022

    In a world where social media is running the show for brands of all sizes, social media signals also have a direct impact on search engine rankings. According to the…

    3 Mins to read

    05 Oct 2022

    The only constant about digital marketing channels is their dynamism. Even the most trending digital marketing fads can become outdated and if you are looking for more leads with social…

    4 Mins to read

    01 Oct 2022

    Business-to-business (B2B) marketing is critical for establishing and nurturing high-value sales relationships. When businesses sell directly to other enterprises, they need to maintain strong rapport with their B2B customers. However,…

    4 Mins to read

    29 Sep 2022

    Singapore, one of Southeast Asia’s hottest business hubs, has become a fiery battleground for modern marketers. This island state’s economy continues to flourish, offering opportunities for businesses to expand and…

    4 Mins to read

    26 Sep 2022

    Social media marketing (SMM) has emerged as one of the top digital marketing channels to reach potential customers and convert leads to sales. Today, a person in Singapore spends an…

    4 Mins to read

    23 Sep 2022

    Modern-day marketers must use trending digital strategies to stay ahead of the competition. Social media channels offer exciting avenues for digital marketers to communicate their message. Today, 5.33 million people…

    3 Mins to read

    20 Sep 2022

    With more than half of Asia Pacific’s surfing through eCommerce on their smartphones, retailers and brands are becoming savvy enough to deploy eCommerce to their rescue. The social web has become a significant part of everyday life. Platforms like TikTok, Facebook, Instagram, Twitter, Snapchat and Pinterest are making people spend hours scrolling through their feeds. The numbers are rising exponentially and social media marketing is on the rise.

    4 Mins to read

    17 Sep 2022

    With more than half of the world’s population surfing across social media channels, having a profound presence across social media channels has become a mandate. Businesses of all sizes are…

    3 Mins to read

    13 Sep 2022

    Facebook has the world’s largest social network. It is one of the most lucrative platforms to engage, convert, and reach potential customers. Also, it is the cheapest social media marketing…

    4 Mins to read

    10 Sep 2022

    Instagram has become one of the most influential digital advertising platforms due to its popularity among social media networks. Through Instagram ads, brands can create brand awareness among over 1…

    4 Mins to read

    06 Sep 2022

    Social media can be a game-changer for brands to go viral overnight. However, it can also be a double-edged sword. When your social media handle works well, it can aid…

    4 Mins to read

    03 Sep 2022

    Did you know about 88% of businesses market on social media in 2022? If you are one of those businesses that are using social media to convert their audience into well-paying customers, you…

    4 Mins to read

    01 Sep 2022

    Whether you are a seasoned social media marketer or a budding social media management professional looking to venture into new enterprises, leveraging social networks can be your big shot to go viral and maximize…

    5 Mins to read

    29 Jul 2022

    Content creation is rapidly gaining traction as a viable form of marketing and audience interaction. Today, content creators provide valuable avenues for digital marketing in Singapore. A survey in Singapore…

    4 Mins to read

    26 Jul 2022

    Listen up: Instagram stories are the next big thing, and you would definitely like where we are headed! With more than one billion monthly active users, Instagram is ruling the…

    4 Mins to read

    25 Jul 2022

    TikTok is a unique social phenomenon that has taken Gen Z by storm. This application democratised the content creation space and introduced youngsters to hands-on content sharing. Singapore is one…

    4 Mins to read

    23 Jul 2022

    Singapore is a leading business hub, with cutting-edge technologies and disruptive innovations dominating its entrepreneurial landscape. Digital transformation has altered business practices in the island state by introducing advancements like…

    4 Mins to read

    19 Jul 2022

    Digital marketing strategies are instrumental to the success of modern-day businesses. As customers become digitally savvy, enterprises in Singapore must expand their online presence. An SEM service can help your…

    4 Mins to read

    16 Jul 2022

    LinkedIn is not just a platform for professional networking platform. It has proved its worth as one of the leading social networks worldwide, including in Singapore. In a recent report…

    4 Mins to read

    13 Jul 2022

    The art of editing videos requires a lot of practice, hard work, and skill. When you search online for tips and tricks that make the video production process easier and…

    4 Mins to read

    09 Jul 2022

    Do you know what a video editor’s best friend is? Along with the skills and knowledge that any good video editor requires, using the right kind of software for editing…

    4 Mins to read

    06 Jul 2022

    Do you have an eCommerce website? If you do, you have taken a smart decision because eCommerce websites can be a real boost to business. With a large number of…

    3 Mins to read

    02 Jul 2022

    The year 2022 has been a year of change. With industries making a comeback post the Covid pandemic, many changes have ushered in and many new trends have gained traction….

    4 Mins to read

    29 Jun 2022

    Trying to run your business successfully amidst the fierce competition in the digital landscape might seem an uphill task. While doing the bare minimum won’t deliver you the desired results,…

    4 Mins to read

    22 Jun 2022

    Singapore’s bustling digital landscape has created new marketing channels for business enterprises. Influencer marketing is one such channel that has grown in importance over recent years. Statista’s records indicate that…

    4 Mins to read

    18 Jun 2022

    The dawn of the Digital Age has brought about radical changes in our lives over the past few decades. The tremendous utility of the internet has revolutionized our lives in…

    5 Mins to read

    16 Jun 2022

    There are thousands of leading brands and large-scale businesses online. They invest a lot of resources in building a profitable web presence. Consequently, the internet has become an insanely competitive…

    5 Mins to read

    13 Jun 2022

    Nothing is as decisive for a website as the search engine ranking page (SERP). It is the first page people see after putting in a search query. A high rank…