Selling to consumers today extends well beyond the product, the whole consumer experience must be considered. The ability to understanding more about the consumer helps businesses to deliver service and products are more relevant. AI systems are already at work behind the scenes learning our likes and dislikes and creating personalised shopping experiences for us. Eric Cohen discusses the challenges of delivering the ultimate consumer experience.

Transcript

In today’s market place band have a more complex and unique challenge, we have different types of consumers: We have young consumers, we have middle aged consumer and we have older consumers, all with different needs, different expectations and different technical skills, which you wouldn’t think that one would need just to be a consumer, but, it seems like these days you do.

We help our customers create the conditions that allows innovation to flourish.

Big brands to innovate need to focus on more than just the specific product experience, they really need to look at the whole ecosystem. How consumers like you and link me buy and shop. Beyond Amazon, beyond retail, what is the ecosystem that is going to engage you, and engage me to buy a product that works for all of us?

Consumers are demanding more personalisation in their products. It can be just the one-size-fits-all product anymore. We want a product that works when we’re on vacation, when we’re at more and when we’re at work.

People are expecting things that are more personalised for them. And one such company called StitchFix has created a new technology to help do that. The interesting this is that the technology is behind the scene, not in front. So for people that aren’t familiar with technology, buying shirts and pants and other clothing through StichFix, is as easy as going online, describing what you like, what you don’t link and letting an artificial intelligence back-end system try to predict what clothing you might like. And this is called a curated consumer experience. It’s using technology to help brands understand you better so they can provide better products and services. And we think this is a new start of a whole new way of selling product, a whole new business model in the consumer space.

We believe it can help in pharma, healthcare, and personal care products, in car buying. Almost any market. If they can understand you better, they are going to be able to basically curate and recommend products that work for you.

At Cambridge Consultants we work at the intersection of technology and of consumer experience. We help develop new products, new product experiences, but also whole new business models that can help bands around the world reach their consumers and deliver products and experiences that are much more delightful and impactful.

Author
Eric Cohen
SVP, Consumer Business

A recognised leader in consumer and health technology, Eric has more than 30 years experience of developing products that create new consumer experiences using new technologies and healthcare behavior models. His track record in new product innovation and development combined with his first-hand knowledge of patient care and industry-leading patient engagement methods plays a critical role in developing new products and services in the consumer and wellness markets.