In the most recent issue of McKinsey Quarterly, McKinsey shares a great article (set of
articles) on customer experience driven business strategy. The executive
briefing “The
CEO guide to Customer Experience” sets the scene with the leading question “What
do my customers want?” – akin to a previous post on the Enfo
blog.
I would strongly recommend reading the post or full report
on the McKinsey site based on its important customer experience centric message
alone, but one of the take-home points made is worthwhile exploring further
from a digitalization perspective;
“Customers
accustomed to the personalization and ease of dealing with digital natives such
as Google and Amazon now expect the same kind of service from established
players. Research shows that 25 percent of customers will defect
after just one bad experience.”
Their research
also shows that not only can a digital-first based approach offer higher
potential customer satisfaction, it typically yields a more favorable customer
experience whilst providing superior support to further understanding your customers’
needs and wants.
With an insight
into your customers behavior and digital footprint, your business gains a
first-mover advantage in anticipating the next set of customer requirements,
and upcoming trends.
Additionally –
“.. For
all the advantages of digital-first journeys, those journeys that are the most
digitized across all the interactions lead to the greatest customer
satisfaction”
So - not only does it provide an excellent
opportunity to understand your customer better, digitalization also yields
higher customer satisfaction; a win-win.
Important to
weigh in is of course that this is a single-business and industry piece of
research – but we can see the signs of rapidly changing customer preferences and
expectations of a blended, rapid-response part-digitalized reality everywhere –
-
In-car
delivery of parcels, groceries etc through time-limited federated digital keys
distributed to mobile devices
-
Mobile
device based one-click shopping, same day delivery (not to mention the tangents
of drone delivery by air or remote controlled “box on wheels”)
-
Payments,
identity handling, context and location-based advertising .. the list goes on
..
Digitalization, augmented reality, Internet of Things, Big Data, machine
learning and predictive analytics – are trending
concepts and tools which can be leveraged to support your business
providing you allow some leeway for innovation and investment - ..
.. so, how do you
know what’s next & how to progress in the right direction?
<insert quick-fix panacea here>
-
..
actually, it’s likely that you never really do – but with a firm grasp of your
existing business processes, information model and customer needs, there’s a
very good chance you’ll stay ahead of the competition with good margins, when
venturing out to provide a truly digital customer experience!
By Fredric Travaglia, Business Development Consultant @ Enfo
http://www.mckinsey.com/quarterly/overview
http://www.mckinsey.com/
http://www.enfo.se/Articles/Blog-Posts/Svenska/Vad-kunden-verkligen-ville-ha
http://www.mckinsey.com/business-functions/operations/our-insights/the-ceo-guide-to-customer-experience
https://www.thunderhead.com/the-cost-of-crappy-customer-experiences-infographic/
http://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/the-four-pillars-of-distinctive-customer-journeys
http://www.travaglia.se/2015/10/who-is-your-customer.html
http://www.travaglia.se/2015/11/let-trend-be-your-friend_24.html
