About three weeks ago, I was at JFK International Airport awaiting a flight to Toronto. Since I had some time to spare, I decided to look around. I went into a store, and I saw a lovely bracelet. If I were a cartoon at that particular moment, everyone in the store would have been blinded by the brightness of the lightbulb that went off above my head. I thought to myself; my wife would love this! Satisfied by my excellent choice, my movement appeared to mimic that of Will Smith in The Fresh Prince of Bel-Air as I gleefully bounced with the bracelet to the store’s sales representative to make the purchase. She took the bracelet, looked at it, skimmed through a stack of papers, then said to me, “I don’t know the price of this.” At that point, I knew exactly how the Wile E Coyote feels when one of his anvil traps for the Road Runner backfires and gets him instead because I was crushed.
I wrote a post recently about the five domains of digital transformation, with customer behaviour being one of the five domains of strategy that is changing because of digital technology. In this post, which you can read, I spoke about how digital technology is changing how we connect and create value for customers. Traditionally customers were seen as mass markets; we made one communication message and sent it out to a broad cross-section of people. There was no level of differentiation; however, in the digital era, we are moving away from mass marketing to customer networks.