Everyone is going digital. Well, let me rephrase that. Everyone is claiming to be digital. In a world where social media, content, data, and mobile platforms reign supreme, digital has become one of the fiercest and most sought after battlegrounds in business.
As Darren Abbruzzese discusses in this recent article in BlueNotes, “rapid shifts to mobile, rich content, social media and ecosystem platforms which intermediate the buyer/seller relationship give consumers significantly more knowledge and price transparency which translate to more power in the buying experience.”
So what this means is that organisations need to do something different to set themselves apart. And this needs to be more than just improving a feature which often only has a short-term impact and can easily be copied.
To have significant and sustained impact on consumers, organisations need to “focus on delivering intuitive, personalised and seamless customer experience driving stickiness, loyalty and long-term relationships.”
At the core of becoming a truly digital organisation is data. Data analytics enables organisations to create truly engaging and personalised experience which, as Darren states, is the key way to build growing and sustainable market share, as opposed to a margin-destroying race to the bottom on price.
If you look at digital disruptors such as Amazon, Apple, Google and Uber, these companies leverage data to create a unique and rich customer experience that demonstrates an understanding of the customer. They also treat data as a strategic asset, as opposed to an afterthought.
Embracing digital doesn’t just have to be limited to the disruptors. There are ways organisations can leverage digital to enhance traditional customer experiences. Take Disney for example who use big data in their theme parks by leveraging the purchase and ride histories of their customers with RFID-enabled wrist bands to direct your favourite Disney heroes and fairies right to where you are for live, personalised performances.
Regardless of where you sit on the digital scale, there needs to be an understanding of the difference between talking digital, and embracing digital. Only those that truly embrace digital as a strategic, digital asset, will achieve sustained growth and loyalty from customers.
Marcelo Dantas, Chief Technology Officer, Automic