Daniel-Zoe JimenezAssociate Director, Digital Transformation, IDC
Power shifts are happening everywhere
Thanks to mobile devices, fast mobile Internet connectivity, and social networks, the balance of power is shifting to customers – and employees.
The person who works for you is equally, if not more, important than the person who buys from you.
This is because when employees are more satisfied in the workplace, productivity is often improved, and this in turn can help boost CX. So, employee satisfaction and experience is critical for the long-term viability of an organization’s customer-focused strategy.
CX is the new battlefield. Today’s reality is that sellers have less control over buying processes as their customers buy from an informed position through their channel of choice, and empowered employees make a difference. Empowered employees play a critical role when engaging your customers.
Success in the digital era requires companies to have a CX strategy, one that looks at both internal and external “customers”. CX calls for a transformation of the workplace and its business processes to deliver engaging and immersive experiences for all the relevant constituents – both employees and customers (and partners).
But for CX to be truly infused into the organizational culture and business processes, there has to be executive buy-in. Companies like GM and DBS Bank are already leading by example with the appointment of a leader who has a CX charter and reports directly to the CEO.
IDC predicts that by 2018, 2 out 5 companies with a CX strategy will appoint a CX executive with dedicated resources and who is independent of the CMO or other department alignment.
This strategy will require clear management directives, the support of a culture that puts employees first, and a commitment for all employees, partners, and suppliers to embrace this customer-centric mindset.
This is critical considering that today’s customer buying journey cuts across different channels — from the physical shopfront or office, to digital channels spanning online, mobile and social media, and at times bypassing the sales representative. This evolution toward multi-channel customer engagement and blending physical and online experiences is fundamental in the context of digital transformation, or DX for short.
In fact, IDC predicts that by 2018, 80% of B2C and 60% of B2B organizations will overhaul their “digital front door” to support 1,000 to 10,000 times as many customers or customer touchpoints as they do today.
But the need to overhaul systems to cope with the growing number of customer touchpoints isn’t just about maximizing revenue. This is also part of a strategy to gain more competitive cost structures and attract a rich ecosystem of developers and partners.
While providing “intimacy at scale” seems paradoxical, current leaders in the DX economy have mastered the ability to personalize interactions and offerings for millions of customers by continuously harvesting, analyzing, and acting on data about customer activities, relationships, and preferences.
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