You do not have to look too far to see examples of organisations that have transformed markets through digitalisation. Amazon in retail and cloud services, Uber in taxis, AirBnB in accommodation, Netflix in video and Spotify in music, to name but a few. In doing so these organisations changed the traditional customer experience to a ‘digital’ customer experience, and people love it.
Customers have now experienced what it is to engage digitally, across multiple channels that make doing business easy and frictionless and they want this from all of the organisations they interact with. If the organisations they used to deal with cannot consistently provide such an experience they will find new ones that can.
Disruption also means opportunity. For those organisations that can successfully embrace the new digital customer relationship, the opportunities to drive customer loyalty through a rich and differentiated digital experience and gain competitive advantage are huge.
The experience is everything when the interface between the business and customers is digital. According to Walker Consultants, by 2020, customer experience will overtake both product and price to be the primary point of competitive differentiation. Customers will pay more and even tolerate product imperfections in return for excellent customer service.
Done correctly, the digital customer experience is enhanced through a combination of multi-channel, personalised interactions that reflect the preferences of the customer and build loyalty before, during and after every frictionless transaction.
At the same time that technology is rapidly advancing to make new things possible, customers are redefining their own expectations of what they demand. No market sector is standing still and the speed with which organisations can innovate and bring new products and services to market is a critical success factor in the digital world. Multi-disciplinary, agile development teams with the ability to quickly deploy applications across a hybrid, multi-cloud environment are essential to ensure that customer expectations are continually exceeded.
The more processes, transactions and customer interactions that are digitalised, the greater the wealth of data available to provide valuable, actionable insight. Organisations that create an environment where data can be continuously correlated and analysed gain a significant advantage. Business and market trends are identified earlier, operational performance can be continually optimised and deep intelligence is available for faster, better decision support.
To understand how your organisation could benefit from digital transformation, simply complete this contact form and we will connect you with our specialist team.