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KPMG Tomorrows experience today: harnessing a customer first approach

Our research finds that the leading firms in each country have made considerable progress in how they make sense of – and utilize – the technologies and approaches of the future in order to create unique experiences for their customer today.

William Gibson once observed that the future is all around us, it just isn’t evenly distributed yet. And so it is. Indeed, the technologies, ideas, methods and approaches that – at some point in the future – will seem ‘disruptive’ are already present in our world today. The challenge is making sense of them in a way that delivers a competitive advantage and a superior customer experience.

In fact, the leaders in our research tend to share four common signs of success:

A deep understanding of the mind of the customer and their evolving needs

Firms are fnding the mind of the consumer more diffcult to fathom; past behavior is no longer a reliable indicator of future behavior. The underlying drivers of human decision-making have become exponentially more complex in recent years. Macro and micro environmental factors, demographic and economic shifts have accelerated the mass adoption of new technologies. The impacts on consumer behavior have been unpredictable.
This means decision-makers now need to understand their customer at a deeper, more profound level than ever before. The problem is that – for today’s companies – transactional data, traditional market research and demographic profles alone are no longer enough; they explain what customers are doing, but not necessarily why or when.

Our research suggests that the leading frms are combining advanced qualitative insight methodologies (such as ethnography and cognitive research) with an entire ecosystem of quantitative data-driven observations about their customers to achieve everdeepercustomer understanding.
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First-mover knowledge and experience of new technologies and approaches

Whether through innovation labs, experimentation or advanced ethnographic design, the brands offering the top customer experiences in our research are those that are committed
to matching emerging customer needs with advanced technologies. They are the ones working to get to the future before their competitors.
Artifcial intelligence, machine learning, bots, predictive analytics and innovative digital applications all play their part in the leading frms’ technology palette. It is how these technologies are harnessed around the organization’s brand purpose that creates differentiation.
This will require organizations to take an iterative approach of matching new technologies to emerging needs while minimizing time to market – something that start-up frms are particularly adept at. The challenge for traditional frms is to decide not only which technologies and
where they should be deployed, but also how to get them to market quickly and in a customer-ready way.

Mastery of The Six Pillars of customer experience

Mastery of The Six Pillars of customer experience gives these companies an edge – an advantage over competitors. Firms that master The Six Pillars are purposeful and deliberate in the experiences they create; they are authentic and transparent; and they are able to create new and exciting customer journeys, often globally.

Orchestration and connectedness across their ecosystem of partners

How connections are being made across each of these areas to ensure a consistent outcome for the customer is critical to delivering a superior – yet economical – customer experience. The leading organizations in our report connect with their customers in the right way, empower their workforceto deliver on this experience, remove barriers across the front, middle and back offce to execute effectively and ensure their partners understand and honor the commitment they have made to customers.
They realize that customer experience excellence is not a destination, but rather a journey. It starts with a deep understanding of the customer and the ability to creatively connect technology, people and process to solve an underlying customer need.

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Many organizations are struggling to turn their strategies into reality. The successful ones are focusing on the customer.

tomorrows-experience-today-harnessing-a-customer-first-approach

 

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