How Is Digital Transformation Shaping Customer Experience?
Incorporate Technologies in all Parts of Business
Every company seems to be going through a 'digital transformation', but it’s hard to pin down what that really means and it's even harder to do. A few organizations believe that digital transformation is about efficiency- saving time and money, leaving behind competitors or grabbing clients with proficient applications.
Well, they are incorrect. Digital transformation is about one thing – making business esteem by improving customer experience. Luckily, numerous organizations are beginning to understand that this is a brilliant technique.
What does stat say?
Research from Seagate shows that two-thirds of CEOs from Global 2,000 companies have already moved away from traditional strategies to modern digital ones.
The net global spending on digital transformation in 2018 was approximately $1 trillion. This number is expected to increase to more than$2 trillion by 2022. Nowadays organizations are investing into digital innovation to more readily situate their brands in the marketplace.
Market pioneers are progressively incorporating technology over their enterprises, bringing about a digital maturity effect that impacts everything differentiation to conversion rates.
Here’s what stellar customer experience management looks like as digital transformation heads toward 2021. Before moving onto the depth let’s first understand what exactly is Digital Transformation.
What Is Digital Transformation?
Digital transformation is the act of incorporating technologies into all parts of a business, from the underlying awareness stages (like paid promotions) directly through to the checkout stage.
It is encouraging organizations to change the manner in which they interact with their customers and the experience that their purchasers have.
In fact, research has indicated that practically50% of organizations claim customer experience was the principal reason they chose to execute a digital transformation technique.
That's not all. Research at MIT found that organizations that have embraced digital transformation are26% more profitable than their companions!
As the table beneath delineates, there's a tremendous revenue and development opportunity you could be leveraging by digitally transforming your business!
One thing is clear: It is the customer who is on the driver's seat and to deliver a better customer experience, you need to understand who this new type of digital customer is and their expectations.
Digital Transformation Trends that are Enhancing Customer Experience
Here are some key ways digital transformation is improving the customer experience.
1. Personalizing the Digital Customer Journey
With endless choices available today, customers need a remarkable experience that is tailored explicitly to them and their necessities.
This implies they need recommendations based on their own inclinations and their past buying history – much like when eCommerce sites like Amazon suggest other “products you might like”.
As per the research by Accenture,75% of customers claim they are bound to purchase from a brand that addresses them by their name, knows about their buying history, and suggests items dependent on what they've purchased before.
And, shockingly, they are happy for organizations to take advantage of their personal information to make those recommendations, including things like their location, age, and inclinations.
Organizations can utilize this significant customer-related information to improve the understanding of their purchasers.
For example, they can tap into requests the consumers have made previously, see precisely what items they have bought and for what cost, and afterward utilize this data to make amazingly focused on messages that talk legitimately to every individual customer's requirements.
Netflix is a great example of this. It is an online streaming application that centers around personalizing the digital customer journey and upgrading the user experience.
2. Increasing Focus on Customer Engagement
The transformation of a company into a digitally mature enterprise reflects a recognition that integration of marketing and operational data is a competitive requirement in today’s marketplace.
One common denominator among digitally mature companies is a360-degree customer view. This is the use of data to develop a holistic perspective on customer engagement with your brand.
Developing a complete customer perspective is achieved by integrating and acting on data from across the spectrum of customer interactions.
“Getting a more complete view of customer engagement continues to be the most important digital marketing strategy,”says Brad Rencher, executive vice president and general manager of digital marketing at Adobe.
“But audience reach, mobile app engagement, and mobile app analytics are all gaining in importance.”
3. Automation is Acing Customer Digital Experience
Computer-based systems increase customer digital experience. In case, you have not used automation as a part of your digital customer experience strategy then I would suggest you start now!
According to a developer stat,84%of the customers preferred interacting with computer automated systems.
On top of that, the respondents also claim that automated applications were much faster to engage with, fulfilling their needs far quicker than traditional strategies.
Automation can be implemented in many areas of business, from follow-up emails to check customers are happy with their purchases, to ticket prioritization that reduces the amount of time spent on basic, routine processes.
4. A Seamless Multi-Channel Experience
Technology has empowered customers to get what they want, whenever they want, and how they want it.
More than half of all consumers now expect a customer service response within one hour. They also expect the same response times on weekends as on weekdays.
This need for instant gratification has forced organizations to remain accessible and on-demand, 24 hours a day, 7 days per week.
Everything is now happening in real-time, which is why those companies that can offer immediacy, personalization, and accessibility to their customers will win out in the long-run.
Today’s consumers are not tied to a single channel. They browse in-store, shop online, share feedback through mobile apps, and ask questions for your support team on social media networks.
Tying all of these interactions together allows you to create a single digital profile every time a customer interacts with your business.
5. Predictive Analytics
Predictive analytics takes personalization one step further. While personalization uses past data to create unique experiences, the predictive analysis uses that information to create an individual future for each customer.
It can use demographic information and data about what a customer has purchased in the past and when to determine what they’ll buy in the future and, more importantly, when they’ll buy it.
For example, data might show that one customer buys a new pair of shoes every six months. This might be because they do a lot of walking and wear the soles down in this amount of time, or it might be because they want to stay on top of the latest trends.
Whatever the reason, the business can start sharing messages with that customer every six months to remind them that it’s almost time to invest in a new pair of shoes.
This is a huge step forward from past strategies where brands could only use data to look backward at what had already happened.
Now, predictive analytics can help brands predict what will happen next and when it will happen. Predictive analytics can also help tailor customer experience in real-time.
6. Keeping the Customer Updated
Keeping your customers in the loop is an integral part of providing a great digital customer experience. Keeping the customer updated about what is going on with the product is no rocket science! It comes down to automated processes and real-time tracking.
For example, Amazon is an e-commerce application that keeps the customers updated at all times.
The application keeps giving updates to customers when an order is reviewed and placed; the payment is complete when the order is expected to reach your doorstep, etc.
It also provides real-time tracking of a customer’s order so that the customer is updated all the time.
Advantages of Digital Transformation
If you have continuous innovation and enhancement on your mind, you can achieve all the benefits that are offered by digital transformation. You have to make sure that you have digital transformation solutions handy in case you have to tackle the challenges. It’s best to be well-prepared!
Software consulting companies help you achieve high-level benefits:
Driving higher conversion rates.
Digitalization of business operations
Immense customer insights
Establishment of digital services
Efficient resource management
Enhanced customer experience
Promote digital culture
Opens the door to globalization
In today’s fast-moving and always-connected world, companies are forced to seriously consider implementing a digital transformation strategy, if they haven’t already.
Digital transformation offers organizations an opportunity to engage modern buyers, and deliver on their expectations of a seamless customer experience regardless of channel or place. It is crucial for businesses that want to grow, evolve, and be more successful than their competitors.
So, if you want to exponentially flourish, you should find the perfect software development company in India to come up with digital transformation solutions and customer experience strategies.