Remaining competitive at a time when industry after industry is disrupted by start-ups that didn’t even seem to play in the same category when they first emerged can seem like a constant battle. According to Daniel Newman, Principal Analyst and Founding Partner at US based technology insights company Futurum falling victim to digital disruption can be avoided if companies adopt a laser beam focus on the customer experience, and only then look for the technology solutions that can enable them to deliver on that promise.
“Experience impacts what we buy and how much we pay for it. The customer experience changes the value of your product,” Newman said in his keynote presentation at CeBIT Australia 2017 and recommended for B2B technology companies to look to the best consumer brands for inspiration on how to turn a brand promise into a truly seamless customer experience. Disney, Virgin America and Nike were all examples organisations could learn from.
“Nike discovered that the scent in a store could increase how much people would spend on a pair of trainers by up to $20,” Newman told the audience. “This level of detail is what it means to pay attention to the customer experience.”
And in a digital age that customer experience begins much sooner than it used to. “You need to ask yourself if your organisation’s brand experience is cohesive on your omni-channel journey,” the author of ‘Building Dragons: Digital Transformation in the Experience Economy’ advised. “If your checkout page looks different from your website it’s not a good customer experience and you need to fix it. Because customers don’t care about your internal silos.”
However organisations should remember that the majority of the technology that adds a lot of value to the customer experience is largely invisible. Newman outlined three technologies companies should use to continue improving customer interactions with their brands.
Big data - because it’s opening the opportunity to know our customers inside and out.
Social media -to educate, serve and share.
Emerging tech such as chat bots and AI - to enable us to provide our customers with the next level of service, immediacy, personalisation and predictive information.
To succeed to provide this level of customer experience and thrive in an era of digital transformation, organisations needed to ask themselves:
What is the experience your brand is trying to create?
How are we embracing technology to help us accomplish this?