FEU.INT.005.mp4

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Ken Hughes.vtt

English

David Penn: Hi, I'm David Penn,
Research Analyst with Finovate.

We're here at FinovateEurope, and joining
me is Ken Hughes, Consumer Behavioralist

Why don't you tell us a little bit
about the customer of tomorrow,

in particular, how they might be
distinguished from the customer of today.

Ken Hughes: Yeah, I think the customer
of tomorrow is actually already

So as Gen Gen Alpha and Gen Z mature,
I think often as industries we,

remember millennials quite well,
and it was all a great conversation

on the move from analog to digital,
and it was very exciting times.

And then Gen Z was coming and, in
our minds, Gen Z are still age 12.

And so that generation will snap
every industry across their knee in

terms of their values, their demand
for instance, their demand for

personalization, their demand for
relevance, authenticity in the brands.

They want to invite brands into
their lives, not transact with them.

And these were old technologies
that were quite difficult to use.

Assuming it's the right way up, you
have to know where you are, know where

your hotel is, you have to know where
you're going, and then you can navigate.

But you've got to choose your
route, and it's complicated.

And today, we have the blue dot consumer.

And the blue dot consumer is that little
blot, that blue dot in Google Maps.

And the important thing about that is the
frame of reference changes as you move.

And so from a business point of
view, the brands that understand

They're saying how can we
make this more personal?

Because let's face it, you wouldn't
follow someone else's blue dot around.

Because you'd end up where they want
to go, not where you want to go.

Because again that Google Maps doesn't
work unless it updates as you go.

And it's all about context and relevance.

So communicate to me with product
propositions that are relevant

So if you're looking for an Indian
restaurant and you go onto Google Maps,

it'll show you an Indian restaurant
on the street you're on, not 20

So it challenges us as businesses,
particularly in financial services

about well, we're too product
focused, we're too process focused.

And when we don't have the customer
at the center, the customer is at

It's the user and that's
fundamentally wrong.

And the brands that are winning in
terms of relevance with customers,

they're brands that are collaborating
with customers, that are actually

looking for to tear away the line
between us, the brand and then the

customer and kind of invite the
customer in, co produce, co collaborate.

That's the space we
really want to look at.

David Penn: Yeah, that's
a fantastic metaphor.

I've never heard anyone put it
that way, but it's something that's

We see that we don't even
take for take appreciate.

I should say the fact that what's
happening here that we are being

centered by the technology in a
way that we never were before.

One of the things I thought was
interesting where you just put

it a second ago was you talked
about it in terms of the way that

And I know a lot of times when we
talk about it, we think of industries.

Would you suggest that it's
actually more important?

It's more accurate to look at the brands
within those industries that some of

Ken Hughes: Yeah there are certain
industries behind the curve in terms

Financial services is one, and
healthcare is one, and other

But yes, for me, it's about the
brand connection is all that matters.

They're an ephemeral
creation that we've created.

The product might exist, the service,
but the brand, that's just a thing that

It's about customer connection,
ultimately, and as we move into this.

Kind of dimension of deeper digital
society where AI and robotics and the

Then we're heading into a deep
digital society where human

And like the laws of economics
will state that anything that's

Why don’t customers get a bottle of champagne at the end of their mortgage? – asks Ken Hughes, Consumer Behaviouralist and The King of Customer Experience. Speaking with our very own David Penn, Hughes explores the customer of the tomorrow, and why focus on customer experience should turn into customer intimacy. He shares what brand connection can mean and explains what Taylor Swift, Red Bull, and United Airlines got right in this area.