In this interview with CalvinAyre.com’s Stephanie Raquel, James McQuivery of Forrester Research discusses how digital technology reduces cost to create new customer experience.
Consumers have an insatiable hunger for newer technology. A device introduced last month may become obsolete in an instant as people quickly move on to a recently launched cutting-edge technology.
Take mobile devices for example. Over the last ten years, tech giants like Apple and Samsung have been fighting neck and neck to win hordes of tech-crazed consumers by launching the newest mobile phone and tablets every year.
This is the reality that companies need to embrace, says James McQuivey of Forrester Research, especially now that the world is moving toward Digital Disruption.
“We are seeing it consistently. It doesn’t matter what product we are talking about, what industry we are talking about. People are ready to try new things. They’re not saying, ‘I can wait five to ten years.’ They are thinking, ‘I can wait five to ten days,’”
McQuivey told CalvinAyre.com. “People have seen that when they have tried something new, they get something out of it. They get a benefit from it. Their lives improve and their experiences get better. So, the next thing they think is, ‘what else could I experience.’”
Saying that digital disruption is inevitable, McQuivey warned gaming companies that they may find themselves trailing behind the curve if they don’t keep up with the companies that are embracing disruption.
McQuivey pointed that companies that struggle with digital disruption are those that are clueless as to when they are going to move toward the digital space. The challenge now for gaming companies, according to McQuivey, is how they will start thinking like a digital disruptor and how will they take advantage of the same economics.
“It is very challenging to do. It sounds easy. Being customer-focused, being customer obsessed sounds easy. All you just need to think about is the customer. Almost nobody does it. Because in the past, you were operations-focused, you were product-focused. You have to be. That’s how you make sure that you run a stable business year to year,” McQuivey said. “What’s happening now is that is assumed. Your customers assume your business is stable and operating well. Instead, what they want is the next new thing that they can hyper adopt and so, as a company, you need to put the customer in the middle of your operations and not the product in the middle of your operational model.”