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Rising Customer Expectations

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Of all customers, 73% pointed out customer experience as an important factor in their purchasing decisions. Yet only 49% of US consumers say companies provide good customer experience today.1

A seamless omnichannel experience is critical for customers as ordinary people interact with two to three devices in a day, and the customer loses interest if they don't have a similar experience of customer journey across all channels and devices.

Businesses are serving customers who live in the social age of Uber, Netflix, Apple, and Amazon, which are the epitome of customer experience, and the customer expects a similar experience from other businesses regardless of their sectors (e.g., banking, hospitality, leisure, travel).

This is about looking at the fact that “digital monsters” are transforming the markets around us and using the technological power to raise customer expectations to a new level. It means that digital transformation must be a very high priority and customer centricity should be at the heart for older firms to avoid becoming a “digital victim.” In Figure 1.1, this is referenced as transforming digital experiences of the customer and deliver easy, effective, and emotional customer experiences.

Building a Digital Future

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