In recent years, the word “innovation” has been everywhere in business — but actually delivering it is a different story. A new crop of capabilities, such as AI, continues to raise the bar on what customers see as innovative. And for a majority of customers, innovation impacts purchasing habits.
“State of the Connected Customer” research shows 56% of customers actively seek to buy from the most innovative companies [Click to tweet]. In the research, innovative businesses are defined as those that consistently introduce new products or services based on customer needs and new technology.
Which emerging technologies are driving higher expectations for innovation? Smartphones, social media, and other entrenched technologies that created our always-on culture are only the tip of the iceberg.
Most customers believe that emerging technologies — and the differentiated experiences they produce — will transform their interactions with companies in the very near term. In fact, a majority of customers say their expectations are already impacted by technologies like the IoT (60%), voice-activated personal assistants (59%), and AI (51%). A nod to the role of trust in today’s customer dynamic, 64% say cybersecurity is transforming their expectations. Even blockchain, which puts up the lowest numbers, is expected to pack a punch; 41% of customers say it has or is actively transforming customer expectations.