Check out this article about what it takes to make smart online business decisions that ultimately lead to a happy online consumer population!
Today’s customers can be disappointed after just one click, making the customer experience more complex — and more important — than ever. Changes that come from digital customer experience impact not only customers, but also companies’ strategies, processes, operations, and employees. The IBM Institute for Business Value surveyed 1,400 companies and 6,600 consumers to better understand the sweeping effects of digital engagement. The goal was to help companies avoid common pitfalls as they pursue successful digital transformation of their customer experience. The result?
A comprehensive four-part series, “The experience revolution,” that revealed these key lessons:
Avoid false choices
A foundational shift is occurring: the majority of companies surveyed are embracing digital to reinvent their customer experience. Companies across industries are racing to either augment or replace in-person, manual customer interactions with digital ones like mobile apps, virtual reality and voice command (Cognitive /AI). Executives surveyed overwhelmingly cite revenue and increased market share as the key drivers for their customer engagement strategy. Far fewer considered the opportunities for cost reduction and improved loyalty. Yet, digital transformation can deliver both growth and efficiencies. Boxing yourself into one while ignoring the other limits the value digital customer experience can bring to your organization.
Find your North Star
What strategies, methods, and measurements are organizations using to digitize customer experience? We uncovered three distinct types of companies, characterized by where they are along their transformation journey. The “Amateurs” are in the early stages of establishing a customer experience mandate for their business. The “Professionals” are further along with coordinated customer experience initiatives and standards, but they lack an overarching strategy. The “Elites” are far more visionary and have a more advanced approach to customer experience across a number of factors. Not surprisingly, the “Elites” have embedded a customer-first philosophy into their corporate DNA.