It is predicted that three quarters of businesses will transform to digital by the end of the decade, but sadly, just under a third are expected not to survive the process. Shocking, but not totally surprising.
As the number and diversity of ‘connected’ devices grows, so does the consumer’s expectations. The ability to compare offerings, cost-savings and delivery methods will necessitate the adoption of slicker and more effective systems.
To maintain and indeed strengthen existing customer loyalty, it is essential to meet these compelling needs and the businesses that do will quickly gain a competitive advantage.
A successful digital transformation process will be focused on the ‘customer’ and all their associated touchpoints.
This is not a quick-fix process, it takes serious commitment from the board to support a top-to-bottom assessment of the entire business model and ideally that of the competition. It must be recognised throughout the business as a positive change, and not an expensive, never-to-be-completed waste of time and effort.
An initial port of call is obviously the provision of a Single Customer View (SCV), which will enable all areas of the business to fully understand all interactions with the customer.
Implementing Single Customer Views is central to everything we do at XCM and we have guided and supported many clients through this initial process. In sync with our expertise in data management, analytics and CRM has proved crucial in enabling digital transformation across our client portfolio.
Jonathan Miles, XCM’s Director of Multi-Channel stated “There are three focal points for true digital transformation; Customer Experience, Operational Process and finally the Business Model”
Jonathan went to say “The XCM toolkit was created to support clients in all three areas, and our Data, Integration, Analytics and CRM toolkits are well placed to help businesses achieve this important goal. Every business has the capacity to become a ‘truly’ digital business.”