We Have Shifted into the Guided Economy
We are currently in the middle of a shift called the Guided Economy. The Guided Economy is a result of advances in technology. It’s not the underlying technology itself, but how it has made our lives more efficient and convenient.
The Guided Economy is how technology has been guiding our lives before we even realized we needed guidance.
How We Got Here
When email entered the business world in the 1990s, it changed the way organizations communicated internally. AOL’s “You’ve Got Mail” alert was an early example of digital guidance. Instead of having to check just to see if any new emails had come through, the now-iconic phrase told users whether they needed to navigate to their inboxes for new messages.
A few years later, in the mid-90s, we started shopping online. The world of eCommerce was just starting, and it was an exciting new world. We were being guided to an easier way to shop for the items we needed.
Still, the internet was very fractured and fragmented. It was extremely difficult to find products, services or web pages buried in different links. Google’s 1998 launch dramatically reduced this problem. We could search the web with relative ease as Google guided us to the desired search results.
Nearly a decade later, the mobile era was ushered in when Apple introduced the iPhone in 2007. New smart phones catapulted text messaging over talking. Texting someone was sometimes easier than talking on the phone.
App stores opened, and an entire new industry was born. Mobile apps such as Waze proactively guided us through traffic to faster, more efficient routes in real-time.
A few years later, the social boom occurred. We were able to engage on social media sites such as Facebook and Twitter. This changed the way we looked at digital relationships and how we interacted with others; not just people, but also companies.
In the last few years, we have seen tremendous growth in the smart home market. Devices strategically placed throughout a home are equipped to guide us to information we need at a moment’s notice.
The Common Thread: Guidance
If we set aside the various underlying technologies involved in the above examples, and instead look at what the technology was doing for us, we see that it was guiding us to information, to solutions, and to efficiency.
We already have self-driving cars, although on a limited use, that guide people from point A to point B. Smart thermostats guide the temperature of a room by learning our preferences at certain times of the day.
In the new guided economy, brands can enhance the customer experience through many different platforms and devices by anticipating and proactively addressing customers’ needs. Telling a customer something useful before they even realized they needed to know it is a powerful way to build that relationship.
Moxie’s Role in the Guided Economy
For the past 20+ years, online shopping has remained the same. When online shoppers visit your site, they have to navigate through a number of links, find the items (products or services) they are looking for, and then proceed to the checkout, all on their own. Companies have spent tons of research and development into fixing their customers’ struggles, but conversion rates still remain stagnant at around 1-3%. And then, if it wasn’t hard enough, we added mobile commerce to the mix.
Moxie’s role is to help you guide your customers through their online journey, on any and every device. Our underlying technology can help be part of the shift of the Guided Economy. It doesn’t matter our technology solutions: knowledge, self-service, email, chat, or Kbot; we are here to help companies guide their digital consumers to better experiences, better information, and better relationships. Let’s talk about guiding your customers.