Business is a real-life Game of Thrones. House of Amazon, House of Apple, House of Google, House of Nike, and so on. Major players move the market with new products and trends, and tons of smaller “houses” keep popping up and being absorbed by the larger kingdoms (Bonobos, Moosejaw, ModCloth).
Product Was King
Since the dawn of the Industrial Age, brands competed on product. For example, Nike cut off Reebok’s head in 1989 because they created more products that consumers preferred (New York Time, 1989). Apple beat Microsoft by developing the iPhone, a bloody overthrow reminiscent of the Red Wedding.
No More Loyal Subjects
Winter is coming, and it’s being lead by consumers. For the last ten years, CEOs have heard whispers of the impending doom. Blockbuster was the undisputed leader in movie rentals, but shut down quicker than King Tommen’s reign, and none of their loyal subjects miss them. In fact, the entire concept of loyalty has gone out the window, and brands are scrambling to find the revenue their loyalists previously handed over.
Demanding Better Experience
Consumers are taking over the throne, and they demand better experiences. A recent Gartner studies show that 89% of marketers cite experience as their primary differentiator. Gartner also predicts that by 2018, more than 50% of organizations will redirect their investments to customer experience innovation. With a great retail apocalypse upon us, businesses have no choice but to adapt or die.
Scalable Human to Human
The primary demand from consumers is to have access to humans. Brands can no longer sit in The Red Keep, they must walk down the steps and meet with consumers. In 1999, Harvard Business Review published an article called, “Is Your Company Ready for One-to-One Marketing?” Nearly 20 years later, and most brands still answer, “No.”
Consumers want an experience that rivals face-to-face, not to do everything on their own. Chatbots are helping somewhat, but the real demand from consumers is for brands to offer them more than a crummy phone line, email address, or online form. They want to use texting, Messenger, WhatsApp, and other conversational channels with brands.
“Teckst is like the dragonglass of customer experience.”
In fact, 9 out of 10 consumers would prefer to text with a brand. Services like Teckst make one-to-one conversations with live humans happen at scale, something no other technology vertical has figured out how to do. Not only is it at scale, it’s on a mobile device. Teckst is like the dragonglass of customer experience.
This upcoming Black Friday will be the first time we’ll see at scale which brands took the warnings from experts like Gartner, and which ones chose to hide from the whitewalker customers as they pillage and destroy kingdom after kingdom. For more information about Teckst and how innovative brands trust in our texting platform to improve customer experience, contact us.