Podcast ¦ Punk CX: What happens when you give data back to people – Interview with Jamie Smith of Customer Futures

Summary

This is a podcast interview with Jamie Smith, an advisor and author in the service and experience space. Jamie discusses the importance of giving data back to individuals and empowering them with their own digital tools. He explains how businesses have traditionally been designed inside-out, without considering the needs and experiences of customers. Jamie introduces the concept of “empowerment tech” and explains how it can reshape customer experiences and relationships. He also discusses the implications for businesses and their technology stacks.

Key Points

• Jamie Smith has been exploring what happens when individuals are given their own data for the past 10 years.
• He believes that businesses have traditionally designed their processes and experiences from an inside-out perspective, without considering the needs of customers.
• Empowerment tech refers to digital tools that enable individuals to have control over their own data and shape their relationships with businesses.
• This shift in perspective allows for more personalized and tailored customer experiences.
• Businesses need to rethink their technology stacks to accommodate the needs of empowered customers.
• Jamie is working on a new services company called Mission to help businesses navigate this new world of data and customer empowerment.

Key Statistics

• GDPR was first drafted in 2011 and went live in 2018.
• Personal finance management (PFM) has been around for more than 10 years.

Key Takeaways

• Businesses have traditionally designed their processes and experiences without considering the perspective and needs of customers.
• Empowerment tech enables individuals to have control over their own data and shape their relationships with businesses.
• Tools and technology that enable empowerment tech are changing the dynamics of customer experiences and relationships.
• Businesses need to rethink their technology stacks to accommodate the demands of empowered customers.
• Personalization and privacy are key considerations in this new landscape.
• Tools that enable individuals to manage and utilize their own data will create new business opportunities and more efficient customer experiences.
• Understanding and mapping the customer journey from a customer-centric perspective reveals new insights and opportunities for improvement.
• Businesses need to shift their thinking to put the customer at the center and design experiences around their needs and preferences.
• The concept of vendor relationship management (VRM) and intent casting can play a role in this new world of data and customer empowerment.
• Empowered customers have the potential to drive innovation and redefine traditional business models.
• There is a need for tools and services to help businesses navigate the landscape of empowerment tech and data management.
• Empowerment tech can lead to stronger trust and more meaningful interactions between businesses and customers.