How Virtual Reality Will Impact Customer Experience

Bite-Sized Delight From the Episode:

• New ways that companies are using virtual reality in the customer experience.
• A look at what the Ernest Cline’s novel, Ready Player One, can tell us about the future of CX.
• Joey and Dan square off over how big VR will actually become.
• A look at the importance of customer loyalty programs.

CX PRESS: Using Virtual Reality to Improve Customer Experience [01:06-06:10]

This week we’re looking at an article from MyCustomer.com called, “Six Examples of Companies Using Virtual Reality to Improve Customer Experience.” Until recently, virtual reality has been limited to the world of gaming, but an increasing number of companies are realizing that VR allows them to create amazing customer experiences.

Tweetable Quotes

VR can eliminate the expense of developing physical prototypes that are then discarded. #CX Share on X
’Start thinking about the impact that augmented or virtual reality might have on your business now. #CX Share on X
You need to move from considering virtual reality to actually playing around with it. #CX Share on X

Takeaways

• No business is too small for augmented for virtual reality customer experiences.
• You need to move from considering VR to experimenting with it.
• The customer experience gives you the chance to seal the deal, whether in real life or virtual reality.

WHAT ARE YOU READING: Ready Player One [6:25-20:41]

Sometimes it’s good to take a break from reading business books and sprinkle in some fiction because that can expand your understanding of experiences. Joey recommended that Dan give Ernest Cline’s Ready Player One a read, and they got a chance to compare notes.

Tweetable Quotes

Every person in business needs to sprinkle in at least one fiction book for every three business books. #CX Share on X
Reading science fiction exposes us to what could be coming down the road. #CX Share on X
Fiction and art expand your understanding of what an experience can be. #CX Share on X

Takeaways

• Reading fiction pushes us beyond our limits of what type of customer experience is possible.
• Reading science fiction exposes us to what could be coming down the road.
• We all want to have raving fans, and we can use what a “nerd’s nerd” looks like to shape our goals for our own organization.
• If you liked Ready Player One, Joey recommends Pattern Recognition by William Gibson and Change Agent by Daniel Suarez.

AGREE TO DISAGREE: The Future Impact of Virtual Reality [20:43-34:27]

While Joey was at South by Southwest, he got to check out a virtual reality customer experience created to promote the film version of Ready Player One. You could go into a “mobile home” like from the movie and play a VR game, and Joey got sucked in. Based on that experience, Joey thinks that virtual reality is going to be a lot bigger than people think, but Dan disagrees.

Tweetable Quotes

According to projections, in 2021 the virtual reality space will be a $215 billion industry. #CX Share on X
We are just getting started with how VR will be used in the future. #CX Share on X
What bothers me about VR is the barriers to entry for the consumer. #CX Share on X
Imagine a business half the size of Walmart that no one is paying attention to. #CX Share on X

CHECK OUT THIS NUMBER: 50% [34:29-37:54]

50% of consumers leave their transactional loyalty program accounts inactive. While it might feel good to save the money, it’s important to realize that redeeming their rewards is one of the best experiences you can give a customer.

Tweetable Quotes

50% of consumers leave their transactional loyalty program accounts inactive. #CX Share on X
Rewards and loyalty programs are built on breakage, the rewards that go unclaimed. #CX Share on X

Takeaways

• We need to help customers remember to use our loyalty program because it does drive loyalty.

Be a Part of the Show!

We’d love to hear about your great customer experiences, which segments you like, and your ideas for future episodes!

Are You Looking for Things We Referenced?

• “6 Examples of Companies using VR to Improve CX” by Diana Lebrien
• Ready Player One by Ernest Cline
• “Can We Create New Sense for Humans” – TED Talk by David Eagleman
• Smarter CX by Oracle
• The Oracle CX Assessment Tool

See you next week!