Today’s customers demand to be recognized across every channel, whether online or offline. They don’t care about which part of the company they are dealing with, to them, there’s only one brand. Yet, companies continue to give customers a disconnected experience, with sales, service and marketing each working to engage the audience on their own, without coordinating their efforts. It makes customers frustrated, disengaged and disloyal. In a 2013 research study by Oracle, 89% of customers said they had switched brands due to a bad customer experience.
The convergence of technology and behavior is only accelerating and the butterfly effect it causes is transformative and disruptive. Markets are shifting to such extent that they open the door to innovation with new products, services and ways of doing business becoming the norm as a result. All of this is (and has been) playing out at the expense or demise of those who continue down a path of business as usual. The need to change is no longer something for everyone else, it is the first step toward one of the most important movements in business evolution today…digital transformation.
At Altimeter, a Prophet Company, my colleague Jaimy Szymanski and I have led several research studies on the subject.