Is it good enough to have a product people love? Or do you need something more to distinguish your business? Nike is ahead of competitors by understanding they can no longer just sell a product. They must also offer a service. Data makes that possible.
When I heard Jimmy Fallon was moderating Nike’s panel about the Fuelband I cleared my schedule and stood in line for an hour to grab a front row seat. Though the panel was filled with cheers and laughs, there was a real conversation related to data, the consumer, and what companies should be selling taking place. How do we use the masses of data collected to elevate the experience consumers have with a brand? It’s not an easy question to answer, but Nike has started to chip away at a solution by filtering data to provide consumers with relevant and actionable information.
From what I’ve seen, Fuelband has received mixed reviews, but the philosophy behind the product is on point. Nike is looking for ways to help athletes of all levels get better and social media provides a channel to motivate people to achieve their goals. Nike went from saying “Just Do It” to actually creating a way to live its logo.
As Nike looks toward the future of Fuelband and Nike+, it’s clear they have one thing right – continue to provide relevant services and let data determine those services. By opening up their API they only strengthen this approach and give consumers the opportunity to shape the outcomes. It’s a powerful combination.