Scenario: Perfecting Customer Experience
Technology enables the end of “good enough” and allows meaningful attention to customer experience. Where ever technology disrupts established business, its because the customer experience is transformed to better meet their needs.
- Netflix did not kill Blockbuster – late fees did.
- Uber did not kill the taxi business – limited access and fare control did.
- Apple did not kill the music industry – being forced to buy full-length albums did.
- Amazon did not kill other retailers – poor customer service and experience did.
- Airbnb is not killing the hotel industry – limited availability and pricing options are.
Today, business winners focus on reducing the amount of effort customers must make to get their problem solved. The losers will be those focused on incremental refinement; delivery of standardised technologies; or those who just use business model innovation to create opportunities.
In the customer-experience-first world, old assumptions about product development, pricing, and promotion are turned on their heads. For example, is it better to build your own product or start an incubator? Is it better to be a service provider or a product company? How can AI transform marketing? Should selling be more aligned to commodities or solutions?
Ask us how we can use our deep business experience to help your organisation win new customers, retain existing customers and beat your competition.