People care about their privacy, but not enough to quit buying gadgets that expose their personal data, says a new study on consumer habits. Consumers International and the Internet Society surveyed thousands of people across North America, Europe and Asia to better understand the relationship between consumers and'smart' devices -- a term they defined as'everyday device and products that can connect to the internet.' The study did not include phones and mobile apps, which present a vast and more complex array of privacy issues. What they found was that many respondents using products like Google Home or Amazon Echo, fitness wearables, gaming consoles and internet-connected home appliances shared concern over how those devices harvest and share their personal data. Consumers think that data collection of their smart devices is'creepy' according to a new study of consumers across the world.
When Tony Fadell, iPod creator and Internet of Things innovator as the founder of NEST, took the stage at the Innovation Project 2017, he told Visa's Jim McCarthy why he has come to dislike the label the Internet of Things, despite the many IoT innovations he pioneered. His beef, he said, is that "IoT" is a label that fails to describe the range of possibilities that devices connected to the internet enable from the perspective of the end user -- the consumer or business. People and businesses don't buy things just because they are connected to the internet, he said; they buy them because of what those things can do to make their lives easier and daily activities more efficient. Fast forward a few months, and Fadell's portrayal of the consumer's interest in connected devices for the value they deliver was more than validated in the "How We Will Pay" survey of 2,600 American adults. This study, a Visa/PYMNTS collaboration, revealed that consumers own a boatload of connected devices.
Consumers and business buyers expect emerging tech to change their experience with your company. Do you think you know your customers? Are you fairly confident you understand how they experience your brand in a myriad of online and offline interactions? Well, here's some sobering news: Even if you do have a firm grasp on your customer experience, that's all going to change--and sooner than you think. Customer experience is becoming the next battleground for business.
The much studied Millennial generation has some issues with Internet of Things (IoT) devices. A new survey says this cohort of young American adults--ages 18 to 29--is the least likely to own an IoT product. This trend presents a challenge for utilities attempting to promote programs like demand response that can link to IoT products such as smart thermostats, air conditioners, or appliances. According to the study conducted by the Association of Energy Services Professionals and strategic marketing firm Essense Partners, 85% of Millennial respondents do not own IoT devices. The percentage of non-IoT device owners in the other age groups is as follows: 79% for ages 30-44; 81% for ages 45-59; and 84% for the 60 and older group.
Brian Hannon, Chief Commercial Officer at Voxpro – powered by TELUS International (Voxpro), a company that focuses on improving the digital customer experience, believes the only companies marketing connected products to consumers who will win will be those who think through the entire customer journey as part of their product design, development and evolution. "We're working with companies in the fastest growing areas, and IoT is clearly one of those," Hannon said, adding that "companies who have their own approach to customer experience, companies that embed planning for CX to work within the design of product are succeeding, and are way ahead with customer satisfaction while taking advantage of the feedback loop to improve those products over time." Hannon wrote in a recent blog that "harnessing digital connections to foster deeper human connections is the highest opportunity of the internet of things," and believes that given more devices, more software, more systems and more human attachment to living digitally will continue to grow, and that brands marketing smart homes, smart cars, wearables and more will succeed when they increase customer engagement, rather than trying to avoid it with "self-service" approaches. "Some companies underestimate the power of not only deepening customer relationships but taking advantage of behavioral data fundamental to improving that product, or building new products and services based on that intelligence," Hannon said. And because more and more sensors (for example fall detection sensors built into wearables or smartphones, or motion detection sensors installed in the homes) integrate messaging, notifications and alerts, the journey is not just one taken by one consumer, but by people connected with that consumer.