Customer Experience is Changing
Our vision is of a world that’s very different from the world many companies are designed to compete in. This is a world in which customer experience has changed – forever.
Disruptive, digital innovation is rapidly changing customer expectations of brand and customer experience
It’s no surprise when we say that customers are getting “smarter”. A growing number are nearly always connected. They can access more automated tools than the most advanced enterprises had just five years ago. They have higher standards, and are more restive and less loyal than ever.
In short, the world of customer experience is changing. And while most companies understand how important this is, not many are undertaking meaningful change to address it.
In this world, we see that those companies which recognize and get ahead of this curve will be better positioned for growth, value creation and new opportunities well ahead of – and often at the expense of – their competition.
It’s time for companies to Act Smart
Acting Smart isn’t just a suggestion that your firm become more attuned to your connected customers, and intelligent in your interactions with them.
It’s also a 5-step framework that can help your company organize around and effectively respond to customer needs – no matter how “smart” they get, or how your industry is affected by disruptive innovation. To Act Smart, you should:
Segment customers by needs and value
By understanding what your customers need – and their value to your firm – you can customize experiences and services while driving revenue and profit.Modularize products, services, processes and capabilities
This will allow you to respond more effectively – and much faster – to changing customer needs and market trends.Anticipate customer needs, by understanding their data
Today, nearly every customer interaction throws off a “digital data trail” that can help you spot trends and opportunities, and better meet customer needs.Reward employees for acting smart, and enable them to do so
Align your incentives with the needs of your most valuable customers – and give employees the tools to keep up with and anticipate those needs.Tailor touchpoints and customer experiences
Customized interactions based on customer needs are the foundation of innovative customer experience. In the new world of customer experience, “one size fits all” simply doesn’t fly anymore.