Yesterday our team attended Now / Next / Why, a one-day event covering the trends and shifts impacting the way brands market themselves. We’ve asked each of our team to tell us about their best insight from the day.
The Rise of the Transference Economy
Stuart Williams, Planner
Throughout the course of the day a number of the speakers referred – in various terms – to the rise of the transference economy. Put simply, this means that as consumers get accustomed to interacting with brands who get the customer experience completely right, they then come to expect the same level of service from every other brand. And the scary thing is that this doesn’t just refer to brands in the same competitor set. Consumers interacting with Uber or Air New Zealand will come to expect the same effortless interaction with their bank, their supermarket and their tax return – not just with their cab company or airline.
So, as consumers’ expectations continue to rise – and continue to be met by a host of agile, Silicon Valley start-ups – the onus is on established brands to up their game, or else they risk being left behind.