Businesses are riding the wave of Digital Transformation and plan on becoming a digital-first enterprise in the near future. According to an interesting fact, most of the companies, about 87 percent of them, see Digital Transformation as only a competitive opportunity and not something that can alter their customers’ perception of their business.
All transformational processes have customers as the key driver, as they are ones who pay these businesses for their products and services. Going digital today means embracing the change in perception viewing customers as the center of business rather than the product or service.
Up until now, several businesses identified themselves through what they sold, that is, their products and their services. Only in the recent times have organizations begun to pay heed to their customers and how their products/services affect them.
Being customer-centric essentially means understanding what paradigm shift or change you bring into those who use your products and services, what challenges are you solving for your customers, and how your customers are reacting to what you are doing.
Internet of Things is eating up the IT world, from electronic sensors and digital devices to process monitoring systems, cars, televisions, traffic cameras, etc. Internet of Things is causing rapid and disruptive changes in system and application architectures.
Big Data is well out of the buzzword club and is being adopted by businesses rapidly owing to the fact that enterprises have witnessed a strong gain in ROI with its application.
According to a blog on Hortonworks, Big Data is the one Technology area that drives Customer Centricity by-
- Providing a real-time view of a single entity, that is, a customer across multiple product silos, channels, and geographies.
- Customer Segmentation through helping businesses sketch out clear lines between their customers of different natures and interests.
- Customer sentiment analysis by studying internal data, social media data, clickstream data, and conducting sentiment and behavioral analysis on them to provide a clear view into the customer’s interests and disinterests.
- Helping build Product Recommendation engines that study customers individually for their behaviors and provide them personalized recommendations keeping in mind their sales history, product affinity statistics, and other similar factors.
- Analyzing Market trends by studying purchase history and enriching the information with data from the social media, web communities, and forums for predicting future buying trends.
These steps if followed religiously can lead to Digital Transformation that is centered on the customer and not on the business as such.
Data-driven marketing is another bunch of practices that are often carried out by software development company with a promise of improving the customer’s experience. Consumer insights and Big Data form a part of data-driven marketing and digital marketing transformations but are often meaningless.
When we consider the end-to-end customer experience, marketing is only a bit of the puzzle, only a part of a much larger picture. The focus is still too much on the strategies and tactics of selling rather than on the customers and their experiences.
Another facet of customer experience happens to be Customer Service, where only a few, about 7 percent customers, according to a survey, have remarked that some of their customer service experiences exceeded their expectations.
The goal is building a long-term relationship with customers and Digital Transformation with an eye on the customer is a sure way to achieve that.