IBM has made some recent announcements to help its customers with changing consumer demands based on new web and mobile techniques.
In a press announcement titled IBM Launches Software and Consulting Services to Help Businesses Adapt to Rising Customer Demands, IBM comments on the changes in expectations surrounding customer experiences. To quote the article …
“A shift is occurring as social networking and mobile communications its putting more power into the hands of customers. Today, 70 percent of a customer’s first interaction with a product or services takes place online, 64 percent make a first purchase because of a digital experience and of the two billion people connected to the internet, more than 600 million are on Facebook. This is compounded by an explosion of mobile purchases, which is tripling annually to $119 billion this year alone.
These disruptive forces are empowering consumers and raising their expectations of the entire customer experience. This power shift from the seller to the buyer is redefining the term “commerce.” Retailers were the first to face the rising power of consumers but now companies in a wide array of industries such as manufacturing, telecommunications, financial services and others have begun adapting to these changes.
This is creating enormous challenges for businesses. What used to be seen as a flow of goods from manufacturers through a distribution chain to customers has become an interactive feedback loop, where consumers, producers, distributors, the media, and marketers all have new roles to play. Companies see “selling” not so much as a traditional function of their organization but rather as an ever-evolving set of services they perform for their customers — performed in concert with their business partners.
“If they are going to engage with customers that are more connected — but not necessarily more connected to the people making and selling products and services — businesses require a new set of capabilities that start with the ability to hear the global conversations taking place about their products and brands,” said Paul Papas, global Smarter Commerce practice leader in IBM Global Business Services. “This new level of insight has to be followed by an entirely different kind of engagement with these customers, including a tighter and highly responsive network of suppliers and partners.”
The sellers, or businesses, are largely unprepared for these changes.”
IBM recent announcements
As a result, IBM has announced the Smarter Commerce consulting practice and new software to measure social interaction to help their clients with this challenge.
1. IBM Coremetrics Social helps companies analyze the business impact of their social marketing initiatives and even tracks individual customers lifetime experience through their Lifetime Individual Visitor Experience (LIVE) Profile.
2. IBM Unica Pivotal Veracity Email Optimization Suite analyzes email links that are shared across social network platforms.
IBM’s entry in the social media monitoring and tracking will not only improve an organization’s marketing effectiveness, there should be an improvement in customer satisfaction data as well, ie, what customer are saying about a business’ products and services so improvements can be made, when indicated. Will organizations use the wealth of information being gathered?