Approximately 11 per cent of UK consumers intend to purchase a smart television in the next year, according to a recent survey by international market research firm YouGov, raising questions on what impact this new technology will have on CRM for business.
Discussing the growth of interactive TV, prominent retail analyst, Neil Saunders, commented: “Channel convergence was born out of the rise of mobile a couple of years ago and is set to accelerate at an unprecedented rate. Just as major players adopted mobile, they must invest in these new technologies now if they are not to limit growth in the coming years.”
Reports further suggest that the forecast adoption of smart televisions, with inbuilt internet capabilities, could lead to a significant shift in shopping behaviour, in turn impacting on CRM strategy. A report commissioned by internet retailer eBay went as far as to predict that interactive TV would be directly responsible for sales volumes of £750 million by the end of 2014.
“We are entering a period of transformation in the retail sector,” states Angus McCary, eBay’s UK Retail Director. “Consumers are driving this as they demand more choice, more interactivity, specialist knowledge and price transparency. Third wave technologies are about meeting those demands and presenting information back to consumers in ways that haven’t been possible before.”
Customer relationship management is likely to represent a key area of opportunity for retailers to adopt third wave technologies in this way, in order to improve the overall customer experience.
As an example, customer service operators could use the large display format of smart televisions to share diagrams or other visual information that might help a customer resolve a problem they are experiencing with a product. Linking this functionality with customer data records through a CRM database, this might then enable businesses to more rapidly deal with common customer relationship management issues, allowing them to dedicate a greater proportion of their time to more profitable activities.
Given this apparent suitability of the smart television platform when it comes to resolving customer service issues, it therefore seems likely that interactive TV could form a vital part of company CRM systems in the future.
For further information on the latest innovations in CRM technology, take a look at other recent articles from the numero blog.