Some don’t get it. What is this term a Customer Experience network? Others, using the term or not, clearly do get it and have implemented or use a Customer Experience network and are reaping the benefits. In fact, according to IDCs research, 68% of those using a Customer Experience network have increased their revenue streams from digital initiatives and this is significantly higher than for non-adopters. This gets you on board for digital transformation.
The premise is simple
- Customer Experience is a board-level agenda item. This is the modern battleground to win the hearts and wallets of consumers. It is the battleground to win markets, to disrupt markets and to create new ones. The battleground is not just your product or your service, it’s the experience that surrounds the consumer, the user or the buyer as a whole. The reality is if you don’t embrace Customer Experience, you will be disrupted yourself. Just wait and see. No! Act!
- To really create an experience to change markets, you’re going to need to think outside of your box–no matter how big your box is. By box, I am referring to both your line of business and your company as a whole. The experience of your product, your line of business, or your company reaches other organizations. To revolutionize this experience you need to open up and come together with those others to revolutionize the experience. Your journey to co-creation starts with embracing and investing in relationships with other organizations to co-create with.
- Technology is part of the innovation game. APIs are essential to accessing data in digital initiatives. APIs must be secured, managed and available for developers to discover, test and use to build brilliant experiences. Your creation of and participation in a customer experience network starts with opening up data for co-creation. In fact, according to IDC 88% of those interviews consider APIs to be important when implementing customer experience networks! Open up your data. Open up to co-creation.
With the above three points as a premise. A Customer Experience Network is a foundation for you and another organization, or multiple organizations to Co-Create experiences together, with shared data, shared insights and together to create an experience that is immersive.
Three steps to value-based digital transformation
- Embrace co-creation with strategic relationships
- Open up data and Implement a customer experience network
- Co-create experiences that will revolutionize and disrupt the markets you serve.
Watch for more blogs here.
Check out the IDC infographic and associated info brief here.