How You Can Prepare for a Blockchain World Almost Instantly

Jeremy Epstein Business

Get maniacal about customer experience today.

The blockchain tech stack is going to do a few things:

  1. Separate out business process companies (which will be protocols) from end-user interaction
  2. Reduce switching costs to near zero
  3. Eliminate middlemen (and middlewomen)

I know I’m on the CX kick here, but as I think about the implications of the blockchain-enabled economy and the eventual convergence of technology forces based on it, I’m realizing that the winners and losers at the User Experience layer will be determined based on capital “E” Experience…in all of its deep meaning.

The people you want to familiarize yourself with include Augie Ray, Shep Hyken, Jeanne Bliss, and Stan Phelps. They have been thinking about this long and hard and sounding the alarm for a while.

The forces of “convergence” are not just technological (as I outlined here), but experiential as well.

You have the “bottoms up” that will be the blockchain tech stack pushing CX to a “thin app” on top of a “fat protocol.”  In other words, the app is ONLY about CX.

From the “top down,” you have the 10 year old revolution that Sprinklr has capitalized on…namely the fact that customers are connected and empowered like never before. Their expectations for a world-class experience are informed by the fact that they hear about world-class experiences from their friends.

Finally, from the side, is the ‘squeeze’ put on traditional companies as new Direct-To-Consumer entrants become more and more commonplace.

This came to a head for me as I listened to “the Riff , a podcast (mentioned on Fred Wilson’s blog), and featuring Jeff Raider, the founder of Harry’s and Warby Parker.

His relentless commitment to Customer Experience by narrowly focusing on a unique pain point and going hard after it to solve it is both inspirational and illustrative of the kind of brands that are going to thrive in the future.

The podcast (embed below) is worth a listen in its own right, but pay attention via the CX lens.

What you’ll hear from Jeff is how he describes a new type of brand that has a MUCH more intense and deep relationship with its customers.

I like to focus on the implications of new technologies. First, social media. Now, blockchain.  What is becoming increasingly apparent to me (or at least the new hypothesis) is that each wave of technology operationalizes lower layers of the value chain and pushes differentiation more intensely up towards the end user and the Customer Experience as the be all, end all.

What is becoming increasingly apparent to me (or at least the new hypothesis) is the follwoing. each wave of technology operationalizes lower layers of the value chain and pushes differentiation more intensely up towards the end user and the Customer Experience as the be all, end all.

Each wave of technology operationalizes lower layers of the value chain and pushes differentiation more intensely up towards the end user and the Customer Experience as the be all, end all.

For you, Marketer in the next economy, you’re going to become a CX black belt.