Customer Loyalty in a Hyperconnected World
An Ernst & Young report pegs a 200% growth in smartphoneshipments between 2014 and 2018 within key emerging markets, including India, Indonesia and Russia.
When connectivity becomes the norm in a consumer’s life, his buying patterns change. It is up to the businesses to keep pace with their customers and deliver a holistic experience across channels. A hyperconnected customer means that
a business needs to rewrite their processes to align with the customer’s changing needs.
Earlier, to access information about a product or a chain of stores, word of mouth was the most reliable method – companies that had a strong brand image typically benefited from this. But now, the customer has access to information
during all three stages of a purchase – pre-purchase, during purchase and post as well.
Another challenge that a hyperconnected consumer poses is that he does not follow a linear buying cycle. Gone are the days when people would see a TV or newspaper ad, go to a store and finish the transaction. Now, the customer journey
has become more fragmented with each stage of the buying cycle becoming more layered and complex.
This instant access to information coupled with non-linear purchase cycle has lead to fickle brand loyalty amongst consumers.