The impact of today’s trends on customer experience

According to the latest Fjord Trends report, 2022 is reflective of “the new fabric of life.” We are experiencing the long-term impacts of the pandemic – from supply chain pressures and rising prices and inflation, to pivots in our lifestyles over the past two years. With all these trends, there is an impact on customer experience (CX) realities and expectations for businesses, brands and marketers.

Here are four key insights and what they mean for our industry:

1. Individualism versus collectivism

Connecting what is right for “me” versus what will further “us”

The idea of community and the wellbeing of the collective is paramount, and for businesses and brands, there has always been an effort to create an active community for brand advocates. The impact of the pandemic has led to a more individualistic mindset – what’s right for one may not be right for all based on lifestyle, preferences and priorities. This debate has been part of the “return to office” narrative: Employees want flexibility, yet some employers, especially in key sectors, are looking for that feeling of the collective and the cultural benefits of connection.

What this means for marketers:
For those of us in CX or employee experience (EX), personalization has become table stakes. It’s time to move from “personalization” to “individualization” as we build out experiences that have one-to-one relevancy. However, an important task for business is connecting these individualized moments to a greater good, a community goal, or a moment that creates connection between people who have similar values.

2. The price of necessity means the fall of abundance

If you’ve been to a gas station or a grocery store lately, the impacts of financial pressures are clear. This is evident to businesses who are grappling with the increased cost of goods and the rising price of transportation, as well as the impact of global political challenges on our economy. It’s also evident to customers who are far more selective with their spending choices. This means greater thoughtfulness about brand decisions, and a shift from abundance-based buying to a less is more approach.

What this means for marketers:
There are two critical actions for brands which impact the customer experience: Demonstrate the value that your business provides for your customer, and ensure that this is being communicated before the moment of truth. 

Demonstrating value means ensuring the customer knows why they should support your business, buy your product or engage with your brand. If there is an emotional connection, it will feel more like a necessity to purchase. 

On the communication standpoint, by truly understanding the customer journey and its connection points, a business or brand can instil themselves in consideration moments. This can be while a customer makes their grocery list or looks for new skates. By communicating the value of your brand in those moments, the business is already in the customer’s consideration set long before they make a purchase decision.

3. The digital experience requires truth and transparency – in multiple realities

It’s clear that the digital experience is very quickly changing with the rise of the metaverse and the growing popularity of NFTs. This new reality is a convergence of the digital and physical worlds. It’s an opportunity for people to reinvent themselves in a new reality – not just with gaming, but also through everyday experiences (like board meetings), or an extension of their life (like buying a home next to Snoop Dogg). The metaverse and NFTs have created a new form of experience economy through digital channels, which creates yet another way for businesses to connect with consumers. The flip slide of the digital coin is the need for truth, honesty, transparency and authenticity, all of which are expected from brands today. 

What this means for marketers:
When exploring and identifying how to connect on digital channels, it’s important to start from the lens of the customer. If your target customer is a digital native who is experiencing the metaverse, trying to connect authentically to or in that environment is a definite evolution of your CX. However, this needs to be done with transparency and authenticity in order for it to resonate with your customer. 

4. Wellbeing and self-care

With the changing environment and pressures of life most people are currently experiencing, there is a real push for self-care. From mental health supports to attempting the digital detox, people are prioritizing wellbeing. The expectation is on businesses to focus on this for their employees, while also demonstrating these supports to their customers. 

What this means for marketers:
In this time of transparency, the employee experience is now an indicator of brand reputation. Being vocal and transparent about the importance of employee wellbeing and supporting related causes are ways for businesses to lean into self-care and communicate their commitment in an authentic manner.