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Win by bumping up your customer's Digital experience

We have all heard of the saying "Customer is King", all organizations know what this means but still most of the organizations lose the essence of the statement as they grow and become older. Which bring up the question that does companies know the age of their customers and do customers feel like king only during some years of their lifecycle with organization. Well the most likely answer will be in affirmative if companies have not reinvented or transformed their customer experience strategy to build an ageless digital customer experience in today's world.

Today it is not only imperative for companies to have digital experience for their customers but plan multiple initiatives though out the lifecycles as to not grow old in their customer's eyes. These digital initiatives should today be built around areas like enterprise digitization, big data & analytics, Automation (AI) & new digital business models. Also these initiatives should be tied together with think customer first always and voice of customer strategy which is refreshed periodically. It is fascinating that how digital enablement for customers is becoming mandatory for survival of businesses and it is now a race against time to reach there first. 

Digitization is happening across industries, business process disrupting customer's experience for better. For instance, we all have been going to retail shops for purchase of products. But today we can buy and experience products sitting on our couch at home in 3D experience which is as real as the physical experience. With the advent of VR & AR, virtual showrooming is changing the shopping experience. Imagine test driving a new car or shopping for home appliances or sampling a vacation journey before purchasing it.  The virtual showrooming will standardize the customer experience for each and every customer apart from the other benefits of cost effectiveness and convenience.  Companies that are on the leading edge of these digital initiatives are at an advantage today compared to their peers.

Digitization leads to another huge advantage for an enterprise in the form of an early access to prospective customer's data. Getting right & correct data at an early stage is priceless and allows organizations to build everlasting relationships using tools like "Big Data" and "Analytics". The digital footprint of the customer starts generating data for inception, which allows companies to engage analytics driven marketing, pricing elasticity (Uber, Lyft is the prime example of this), cross sell analytics across multi-channels which in turn leads to higher customer loyalty & greater competitive advantage. Therefore building single customer view with integrated customer interaction channels based on common data layer is imperative for successful digital customer experience. Lack of data consistency, proper analytics not only decreases life cycle value of customer also makes them more likely to move to the competition and never return.

Another stark change in customer behavior today is on demand service and instant delivery of services. This key demand for complete digital customer experience can be achieved and sustained only by Automation (AI). Identifying key digital processes which can be driven by AI will not only ensure personalized and instantaneous response to customer's needs and queries without any human interventions. Enabling AI will also ensure more self-service capability with intelligent & holistic customer experience leading to higher sense of involvement and belongingness to the organization. AI will have to be the back bone of the all future customer digital experience which has to social, responsive & yet personalized.

With birth of new digital platforms servicing customer's organizations will also need to build new business models of digital world that will need to focus on data monetization, cross pollination of services for upsell & cross sell. This will ensure newer growth avenues and greater portion of business from digital channels and will lead to its self-sustenance. Digital models will also allow enterprises to breach new geographies and bring disruptive offerings & thus creating new revenue opportunities.
The common thread tying this digital garland for digital enterprises of tomorrow has to be customer first and only customer first strategy across channels. This means customer is always in the center and all initiatives are around them only, period. Internal processes & internal changes which does not cater to these should be just stopped. Also digital organizations ensure they regularly listen to voice of their customers and improve the digital landscape through innovative means of customer engagements on social platforms or through gamification. Dell recently sent invites to its customer to test beta digital offering and also awarding them for their participation. The framework of digital has to be built along with its customer rather than for them.

This change and transition from physical world to digital world is happening now and is accelerating at a fast clip. Therefore companies which will innovate & transform their customer experience by focusing on integrated digital experience will  not only be leaders in their industries  tomorrow but will ensure that in real that their "Customer is King". 

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