Deloitte’s TMT Predictions interpreted through the lens of the customer experience
by iperceptions, on Jan 15, 2015
2015 is here and Deloitte’s TMT Predictions have arrived. Since 2001 Deloitte has published an annual Technology, Media & Telecommunications (TMT) report which shares their predictions for the upcoming year. Yesterday, I attended Montreal’s 2015 edition where Duncan Stewart, Director of Research TMT at Deloitte, shared some insights of what we could expect in 2015. Below I highlight a few predictions that I believe are relevant from the perspective of the customer experience.
Mobile payments: This year will see a 1,000% increase in the number of global smartphones used at least once a month to make an in-store contactless payment. TMT1PREDICTION
Deloitte states that for the first time stakeholders are ready to adopt near-field communication (NFC) that enables mobile payments but consumers are hesitant to make the shift. Duncan touched on obstacles slowing the adoption of mobile payment - ranging from the economy to infrastructure issues. However, he spoke of the seamless experience that NFC enabled credit cards offer. With a simple “tap and go”, a customer’s credit card information is wirelessly transmitted and approved, resulting in a quicker payment experience for the customer. Duncan then touched on how mobile payments can improve the customer experience even more than “smart credit cards” quick payment. Deloitte predicts that 2015 is the tipping point for mobile wallet use. By focusing on providing the customer with an improved experience is one way to convince them to shift their wallet mobile.
Millennials will pay: Notwithstanding their reputation as digital pirates unwilling to pay for content, millennials in North America will pay for content they really want. TMT2PREDICTION
Supported by a variety of data sources, Duncan stated “millennials will pay for content – if they are not paying for yours it’s because you are doing it wrong”. Millennials, the demographic cohort following Generation X many say won’t spend, is spending. What are millennials spending on? Deloitte specifies Pay TV, music, computer games, books, live sports, streaming video, and even print newspapers. Millennials will spend when brands provide an experience that is worth paying for – as an example as part of SidLee’s Millennial Explains Millennials series, Rebecca Kantar a young millennial states “If your brand is causing a millennial an inconvenience, it doesn’t matter what you are selling”.
The refresh cycle for smartphones is getting longer, and shorter, all at once. Of the 1.4 billion smartphones that will be sold in 2015, more than a billion will be upgrades. TMT6PREDICTION
For the first time, the global smartphone upgrade market will exceed one billion – that is new phones for those who already have one. The upgrade movement is supported in part for reasons of want, rather than need. As Deloitte states “Some liken a smartphone’s cool factor to what cars meant to previous generations”. Smartphone’s have become a status symbol and are used almost every waking moment of the day. This made me think of Duff Anderson’s recent blog post on customer experience trends where he wrote “There is no denying it. This year mobile will become a do or die strategy.” Considering the status symbol that smartphones represent, marketers need to consider how consumers link their mobile use to reflect their personality. Now that it’s 2015, it’s time for a clear mobile strategy that is driven by customer centric data.
2015 will be an exciting year for customer experience
Above are just a few highlights from yesterday’s presentation that I have interpreted through the lens of the customer experience. I look forward to watching how 2015 progresses. In the meantime, for more information on the Deloitte’s 10 most important trends for Canada in the technology, media and telecommunications industry over the next 12 to 18 months I invite you to click here to read the press release, for the Slideshare presentation click here and to stay up to date with Duncan Stewart’s, Director of Research TMT at Deloitte, follow him on Twitter. To get a glimpse of Duff Anderson’s, SVP and co-founder of iperceptions, Top 5 Voice of the Customer Trends for 2015 click here.