The Transaction (a short story):
I recall an encounter a few years back at a local auto parts national chain store where I stood in line behind a gentleman shopping for auto supplies. When the gentleman, whose name I later learned was Rick, approached the counter, he was greeted with a welcoming “how may I help you” after which Rick went through his list of 4 items he was looking to purchase. Among them were new windshield wiper blades, a turn light bulb replacement and a few quarts of oil and oil filter. The items quickly found their way to the counter and the transaction was about to be completed, efficiently and presumably profitably for the store.
And yet, at the moment of entering the item SKUs into the register, a twinkle of genuine curiosity emerged from the store manager - "Sounds like you're gettin' ready for a road trip there, Sir," he said.
“Yeap, gotta get the truck ready and want to make sure it’s safe for the long trip ahead,” replied Rick.
Pause … and process the next step as this is where the critical fork in the road in this story occurs. Which path is taken will define the Journey down which the relationship between Rick and Acme Auto will take.
One path goes this way: “Enjoy your trip and thank you for shopping at Acme Auto, please come again soon,” says the store manager and Rick walks out of the store happy to have successfully concluded his business.
The other path, and the one which this store manager chose, took a different direction, one of inquiry and opportunity.
“Where’s the long road taking you Sir?” he asked. Followed by a few additional conversational exchanges during which the whole story unfolded:
Rick was about to take his 10-year-old son on his first trip to Yosemite Park. A good three-day drive, with stops at motels, roadside inns, and a lake where Rick’s dad took him fishing when he was a young boy about the same age as Rick’s son is now. It was a trip Rick was planning for over a year and one which his son was anxiously looking forward to. There was much emotion at play surrounding the trip as when Rick was on a similar trip with his dad 40 years ago, it was one of “coming of age” for Rick and the bonding which Rick and his father experienced during this trip was unforgettable, perhaps even life-changing, and Rick now wanted to create that same experience for his son.
You might not be surprised to find out that before Rick left the store, on the advice and suggestion of the store manager, he went back to purchase several other products to assure his road trip with his son would be the memorable event he has planned it to be, and without incident. A symbiotic outcome for both Rick and the Acme Auto store – Rick was thankful and appreciated the store manager’s advice on things to bring along which Rick didn’t think of himself (cigarette lighter powered emergency light, roadside flares, emergency tire inflator), and additional revenue for Acme Auto store resulting from products which otherwise would have remained on the shelf.
During those few moments of a conversation with the store manager, the interaction with Rick changed from transactional to one of expanded opportunity, with elements of Rick’s Customer Journey imbedded into and intertwined with Acme’s business model. Henceforth, Acme is invested in Rick’s road trip success and Rick considers Acme to be his Journey Partner.
The Evolution:
This of course is an elemental example of the power of strategic relationships and, extended to and amplified in the B2B environment, demonstrates how ecosystems are formed between a buyer and a supplier, each depending on the other for its success. Companies which are equipped to capture their customer’s preamble to each sale (need and purpose) and understand the context in which it occurs, are empowered to use that information to amplify and make their relationship with the customer more durable and relevant. By so doing they expose and can develop tangential opportunities, ones connected into the Customer’s Journey as elements in an orchestrated flow of transactions over time and across related needs.
The science of Customer Journey mapping is still evolving but already many companies have emerged as market leaders in this space (CSG International / CSG) is an excellent example). Recall the very basic yet powerful direct engagement touch points between Rick and the store manager in the earlier story. Advanced Customer Journey mapping expands that across media types (web, contact center, email, etc.) and integrates resulting insights from across modalities to map and understand both historical customer behaviors and, through AI, anticipate future needs, with well-orchestrated events to direct the customer to the likely next transaction encounter.
With the understanding of Customer Journeys, in today’s data-rich environment, the concept of a transaction takes on a different definition. It is not a simple exchange of currency for goods or services but instead an extended action across time and events which aims to satisfy an evolving chain of needs. These needs can already exist or be created through a confluence of smartly positioned activities inserted into the Customer Journey, such as for example, a product or service launch pre-announcement ahead of a customer’s anticipated need for it.
Satisfying the need across all of its dimensions (physical, emotional, functional, etc.) should always be the paramount objective in any transaction. By doing so consistently, a buyer-seller ecosystem is formed which withstands competition and creates a balanced value exchange between parties while elevating both to the level of Journey Partners.