In the modern era we must understand both the customer experience and track the customer journey. Engagement with customers via the best channels and touch points will enhance customer value. Options for customers to connect with us via their preferred method is crucial.
From the business perspective we must have secure transactions, efficient and effective operations, capture accurate data, as well as real time analysis for knowledgeable decision making and pivoting as needed to stay aligned to customer needs.
Technologies have changed the landscape of the world in every possible way. People absorb more information in less time, are constantly communicating and connected to the internet, live mobile “on the go” and remote lives, access seamless 24/7/365 streaming anytime from anywhere, are no longer tethered to a place and instead live “virtual” as the new reality.
The effect on business has made every business a “technology” business. Meaning, the one is inseparable from the other. The Digital Transformation has caused businesses to operate significantly different and/or to offer new products and services otherwise not possible. Hence every business must understand how to survive in a modern era of the modern workplace.
The modern era is depicted by the IoT (Internet of Things), consumers with “app” mentalities, everything is immediate and faster, big data, the cloud, business intelligence and even artificial intelligence and machine learning as norms. For businesses to survive they must remain competitive, retain market share, be vigilant, be informed, be creative and be nimble. Remember, a smart startup could siphon off your market share and even out compete you.
Why should people buy your products and services? Let’s face it, many businesses offer the exact same products and services. Instead, customers buy you and your company. Despite technologies, businesses still need to engage with people to build and maintain strong customer relationships.
However, smart choices in technology solutions can also facilitate engagement with customers and improve the customer service/experience. Businesses must be diligent to listen and understand how customer service is offered and if the customer is receiving value. Bench marking customer satisfaction is no longer enough. Customer satisfaction is the expected minimum. A true journey is never ending and isn’t that the goal? Keep customers for life!
What does it all mean? Your strategies need to adapt. There are four dimensions to any business which must support each other and synergize for optimal results. These are people, processes, technologies, and partnerships (with businesses outside of your own). Every business has been and is on a digital transformation.
Your strategic business plan must be inclusive of its technology plan that is adding value for your customers. Customers are served when value is present from their perspective. Customers measure value in how they are enabled to achieve their outcomes. In other words, whatever they buy allows them to achieve something and that something is of value to them.
Seek feedback and listen to understand your customers and what is of value to them. Build and maintain strong relationships. Be accessible to your customers. Leverage the right solutions for the right reason at the right time to enable achievement of your business goals and objectives.
Your strategic plan and budget will impact your business capabilities and ultimately its customer service, customer retention and business success. Remember, the Digital Transformation means every business is a technology business!