In today’s digital age, consumers have evolved to become far more independent and self-sufficient. They now expect access to information, services, and products to be quick, easy, useful, engaging, and even entertaining. Businesses that are not yet meeting these new expectations are falling behind the curve.
Businesses leveraging the two technologies together would now be able to harness their data for critical insights and predictions, connect customer touchpoints across their business, and drive brand loyalty and growth.
But this particular curve is not just the trend of today that’s going to be gone tomorrow; it represents a fundamental shift in the marketplace. What was once a straightforward B2C or B2B relationship in which the businesses located near the consumer essentially had a monopoly is now a far more complex paradigm. Now, thanks to the Internet and social media, consumers have access to exponentially more businesses and – most importantly – to each other. And they share information like crazy.
This is why the customer/stakeholder experience has become paramount. If a customer has a bad experience with your organization or one of your products, not only will they stop purchasing your product, they’ll share their bad experience with the world. On the flip side, when a customer is consistently happy with you and your products, they become a loyal brand advocate, sharing their good experiences with everyone.
Cultivating those loyal brand advocates is what digital transformation is all about.