Shirely Yu-Tsui, the head of the South Korean arm of U.S. tech giant IBM, on Monday emphasized the changed role of customers and advised companies to learn from each other on how to engage them.
"The role of customers have really evolved. They are not just customers, but are very empowered. They are smarter, they are corrective, and also, they are very influential," Yu-Tsui said during the Global ICT Premier Forum.
Lego in 2004 was near bankruptcy as children became more interested in video games and computers instead of toy blocks, she said as she cited an example of getting customers involved in the business. "So, they started to evolve (to aim for) customers with creative designs and innovative ideas," she said.
"In 2008, they even published a website for the customers to post their ideas. So customers were able to tell Lego what product design they would like to see. Once this design gets 10,000 supporters, Lego would evaluate whether they will produce it or not," Yu-Tsui said.
There are lessons to be learned from this approach, she stressed, showing how businesses can utilize the ideas of users to generate new opportunities and sources of profits.
U.S. shoemaker Converse is another example of businesses taking customers into consideration, allowing people to design their own sneakers.
Customers have always been important, but how to activate them has emerged as core issues for enterprises, Yu-Tsui said.
"There is no longer boundaries among countries. With the Internet of Everything (IoT), boundary is not there anymore," she said, adding it is important to combine such trends to provide users with a unique experience via digital and physical innovations.
Yu-Tsui was one of the speakers taking the podium during the two-day Global ICT Premier Forum being held in Busan on the sidelines of the 19th International Telecommunications Union (ITU) Plenipotentiary Conference. The ITU meeting continues until Nov. 7. (Yonhap)
