Customer expectations are growing every day. That’s why a customer experience strategy is critical to the success of your business. You’ll need to start with understanding your customer needs at every stage of the customer journey.
Customer Experience strategies are best defined and executed when data is gathered at scale by holistic measurement. This is just your first step, once you have the data about customer behaviour flowing in, this data is only as good as your ability to understand it.
Data should be the foundation to define a successful customer engagement strategy
Focus on both, operational & experience data:
- Operational data: Data can generally be gathered from an operational point of view – revenue, number of visitors, conversion rate etc. –
- Experience data: Data from and experience point of view – Net Promotor Score, Customer Satisfaction Score, Customer Effort Score, etc.
Since in most companies operational data is readily available, typically there is a lack of availability on data around customer behavior. To define a customer experience strategy, it is important to get to know the anxieties & motivations of buyers and learn what drives and triggers the customer journey.
Business Transformation and Customer Engagement
Going through a successful digital business transformation is essential for organisations who want to survive, as digital is now a customer requirement rather than a preference. Research shows that even though 92% of companies acknowledged the need for digital change, over 70% of companies fall short of their objectives (BCG, 2020), and therefore fall to provide business value.
The challenges that companies currently face in digital lie, as always, in aligning inside-out processes with the external environment in order to stay relevant to the customer. Customer behavior has changed dramatically and continues to change, due to developments in the digital channel, having higher expectations of what companies' experiences should be. This offers many possibilities to grow the business, but also requires a ‘customer obsessed’ mindset.
Therefore, using customer engagement and customer-centricity as the driving forces for your business and digital transformation will likely help you achieve customer value, which in return, will generate higher business value in terms of revenue and sales. Companies that are capable of meeting the needs of their customers, will gain a strong competitive advantage in the market.