“Is it just me or has Black Friday turned into Black November?” It’s not just you, Richard.
Black Friday / Cyber Monday deals began hitting the email inboxes of consumers as soon as the clock struck midnight on Halloween. Those deals prompted many to question the motives of brands – is this the big deal, or am I going to be upset if I purchase now and you have an even bigger deal on Black Friday or Cyber Monday?
This isn’t the first time consumers have questioned the motives of brands.
More and more studies on millennial and Gen Z buying behaviors show that these consumers care about the points of view held by the brands they give their dollars to.
Our latest #CXTweetchat focused on this new era of the consumer and what it means for the coming decade. Yes, emotional triggers have long driven brand sales, but in 2020s and beyond, true connection will win consumer trust, affinity, and repeat sales.
To better understand the decade of holistic customer experience before us, we took it to the Twittersphere. There, we wanted to know:
- Which companies are ahead of the game and already doing this well?
- What has changed in the last decade that has made customer experience a true c-suite focus?
- How will brands market BFCM (Black Friday / Cyber Monday), and will they focus on CX?
- What will change in 2020 and beyond?
- What does the future of customer experience and emotional intelligence look like as we market to a new generation of savvy and passionate consumers?
For brands that are already doing it well, it was a mix of newer direct-to-consumer retailers like Everlane and TOMS, the latter of which was one of the first brands to focus heavily on philanthropic causes. They are now changing their practices, though, based specifically on feedback from their consumers.
Other brands that made the ahead-of-the-game cut were Disney, Apple, and Levis – brands that have built long-term reputations on the back of CX as a customer expectation.
The customer expectation economy has shifted
The biggest change highlighted by those in the Tweetchat over the last decade is a shift in what consumers understand they are buying.
In the last decade, the rise of service companies like Uber and Lyft, or AirBnB were cultural examples of a shift from a product economy to service economy.
Now, another shift is occurring – from service economy to experience economy, with products as an add on.
Just look at brands like Recess, a CBD drink based in New York. In their first year, they also launched a physical space in the city where consumers could come to hang out and relax. Buying the product is a secondary CTA. AdWeek called it as “Pop-Up Oasis for Creatives.” That’s the experience economy in play.
This same experience economy will pop up more and more, especially during this year’s BFCM. REI was the first to capitalize on it with their #OptOutside campaign. These days, there are entire brands and agencies dedicated to this mentality of play first, work second.
But the decade of customer experience will require more than what we currently see. It will require a holistic approach to CX, beginning first with employees and their departments.
Battling distractions & measuring CX outcomes
Consumers deal with constant distraction: Never-ending advertisements on their social platforms and their podcasts. Distrust and confusion in an environment where the truth, not just opinion, can be difficult to find.
Brands have cultural significance, and here, they can be a shining light. In fact, those that are are likely to be the biggest winners over the next decade. This is because businesses are already thinking about customer experience. CX has already made its way to the c-suite, especially as millennials age into those positions.
Luckily, there are systems and processes for putting CX at the center of your brand. You first need the plan, and then to allow your team to execute on it.
Customer experience and connection, rather than manipulation of emotions to sell, is where the culture is headed – and any brand that pivots to better fit with that consumer expectation will win in revenue and employee retention.
