Pursuit of optimal customer experience is driving digital transformation and Digital Economy initiatives; with technology allowing customers to be in direct control of their interactions with businesses. From the ease of multi-channel digital connectivity to immediacy in service, the customers are demanding seamless and hyper-personalized experiences that embody simplicity, Do-it-Yourself, and social.
Hyperconnectivity is growing at an unprecedented pace and there is a global urgency in embracing “digital-first” strategies. Benefits already being witnessed from digital transformation efforts include: increased market share by 41%, increased customer engagement in digital channels by 37%, more positive employee morale by 37%, greater web and mobile engagement by 32%, and increased customer revenue by 30%.
However, growth in this highly competitive digital economy must be lead with a clear vision, in a collaborative culture of highly motivated departments, fueled with disruptive innovations in both business models and offerings. Ultimately, all efforts narrowing down into two strategic streams: Customer Value and Operational Agility
In this paper, my colleagues and I share how customer experience is driving digital transformation initiatives. What are the key challenges and how they can be addressed to attract, win, and retain customers in this ever-increasing digital economy.