May 9, 2018 - No Comments!

Digital 101 – Figital

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The Digital Age has placed the customer at the centre of the value chain. Customers in the digital age use channels such as Web, mobile and social to consume content, engage with brands and complete transactions. As a result, many organizations have adopted platforms to enhance their customer experience and retain loyal customers.

While customers in the Digital Age appreciate the convenience and experience of platform-based interaction, there are certain activities and experiences that they seek to not change. This impasse has given birth to ‘Figital’. A concept coined by consulting firm Bain & Company that places forth the best of both physical and digital experiences.

Figital, also recognized as ‘Phygital’ or ‘Digical’ is about reinventing the customer experience lifecycle by creating seamless customer journeys that boost business and conversion rates, by bringing virtual elements into the physical experience. It has garnered much attention in industries such as retail and is steadily gaining traction in other sectors like banking and IT as well.

Some cases of Figital at play are:

  1. Google expanding its ecosystem into the physical space with the launch of wearables.
  2. Apple has struck a fine balance between the two worlds with their products like Mac and iOS. They have also extended their offerings with iTunes and Apple stores.
  3. When particular shoe designs weren’t in stock or were in limited stock, Adidas partnered with Intel to render 3D displays of these designs to their prospective buyers, allowing shoppers to engage with the products in store.
  4. A Brazilian retailer initiated real-time Facebook ‘Like’ feeds on clothing hangers for certain products. This enhanced the buyers’ decision-making process, by creating awareness on the trends.
  5. The advent of 3D printing hasn’t merely given us access to replicating objects like houses or car keys from a photograph. 3D printing has opened up a range of avenues in the culinary space, popular amongst people who love to experiment with food and technology.
  6. Beer brand Beck’s playable posters allow customers to tap on the various shapes on the poster, resulting in musical notes, increasing customer interaction with the brand.

These are just a few examples of businesses moving to the Figital model. As the world moves towards ‘Limitless Digitization’ and being constantly ‘plugged-in’, Figital presents us with an opportunity to thrive in the Digital Age, while retaining the softer elements of ‘human touch and interaction’, significantly elevating customer experience.

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Published by: Nikita Madhu in Blog

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