Companies struggle to compete with customer’s experience
While many companies believe technology will make them more competitive, the real need is for organizational transformation. Customers compare your service with the best they ever had… from Netflix, Facebook, Amazon or Spotify. The user expects the same frictionless experience. To survive it’s time to start the culture transition journey from thinking inside out to outside in and start walking in the customer shoes.
“Typically, digital is associated only with providing a superior customer experience. But digital can also help create new business models, drive operational excellence and enhance employee engagement.”–Raman Sapra
What is the single most exciting business opportunity for 2020?
The answer: The customer experience, CX, comes in first beating content marketing, video marketing, and social! The report Digital Trends by Econsultancy and Adobe have collected the answers from B2B companies. Research from Aberdeen Group shows that customer journey maps improve marketing return on investment by 24 percent and shrink sales cycles by 16 percent.
Today, all companies are in the business of customer experience — and the best customer journey maps illuminate the who, what and why. As long as the map is kept current, it will always indicate where to go next, like a compass.
By the end of 2020, customer experience will overtake price and product as the key brand differentiator, stated another study
Today, all companies are in the business of customer experience — and the best customer journey maps illuminate the who, what and why. As long as the map is kept current, it will always indicate where to go next, like a compass.Once a customer has been won over by an experience like Amazon, Spotify, or Netflix, they want to know why all transactions aren’t as satisfying. From travel to consumer goods to business transactions, customers expect to be recognized, heard, and taken care of. Only 1% of customers feel that vendors consistently meet expectations, over 86% of buyers will pay more for a better experience.
What is Customer Experience?
“Customer experience is how customers perceive their interactions with your company.”
Only your customers can tell you whether they found their experience useful, usable, and enjoyable. And that is totally a function of their perceptions – not the firm. Dive deeper, what does that mean?
A Customer Experience (CX) is a Customer’s perception of their rational, physical, emotional, subconscious and psychological interaction with any part of an organization. This perception affects Customer behaviors and builds memories that drive Customer Loyalty and affects the economic value an organization generates.
Beyond philosophy – Building Great Customer Experiences
Customer Experience is the New Battlefield
Mediocre Customer Experience is the norm and Excellent Customer Experiences is a powerful brand differentiator. In market place today customer experiences are the most untapped resources, shows Gartner studies year after year. Companies struggle to transform into an “outside-in” mindset starting in customer’s experiences. Delivering on the promise of the digital revolution requires thinking more “outside in.” Companies need to be built on what customers need, want, and care about? We all need a customer experience strategy.
According to Capgemini, 75 percent of companies consider themselves to be customer-centric, but only 30 percent of customers agree.
How does your company position in the Customer Experience Index? Customer Experience Index reveals brands lack human connection, according to Forrester’s 2018 Customer Experience Index. Results continue to show that companies are struggling to create and sustain a human connection with their customers. The “inside out”-mindset learned in the Industrial Age prevent organizations from transforming to the Social Network Economy. That is a hopeless market fit into a hyper-competitive crowded world.
Thinking Media – Empower your Business Transformation in the Social Business Landscape