In the current marketplace, it’s the customer who is in control. Today’s consumer wants a brand to deliver convenience, relevance, emotional assurance and added value, and will quickly turn to a competitor if their needs aren’t being met. What’s more, simply getting to a sale is no longer enough for a brand to maintain success. In a marketplace flooded by product commoditization and choice, traditional notions of loyalty have been eroded. As a result, brands often find themselves in a race to the bottom led by deep cuts on price.
Even more troubling is the coming shift towards passive purchasing; where internet enabled appliances in the home and even connected products themselves are able to automatically place orders with no intervention from an actual customer. In a near future where artificially intelligent algorithms become shoppers, it’s imperative that brands deliver amazing experiences before and after a purchase is made. The purchase path has evolved from a straight line into a continuous cycle of engagement, with the consumer always at the center.
How can brands adapt to these evolving consumer expectations? And, what are the implications for digital marketers? Bing, in partnership with PSFK, brings you The Customer Experience Lifecycle: Exploring The New Rules of Engagement Along the Retail Purchase Path. This report includes insights collected from the Bing Future of Retail Consumer Survey 2018, conducted in March 2018, in which 1,145 US consumers offered their perspectives on the future state of the industry. Four stages along the Customer Experience Lifecycle are brought to life with emerging customer insights, key implications and related trends to guide digital marketers as they seek to deliver differentiated experiences to their customers.