Modern businesses are changing at a rapid pace, shifting their sails from traditional ways of doing business to digital. The main force driving digital transformation is the customer's outlook- the way they consume information, engage with business and behave in general. Apart from evolving customer behavior, technology advancement is impacting businesses. In the yesteryears, it was much easier for a company to operate and manage physical hardware, but new companies with limited resources don't have the liberty to invest in traditional on-premise infrastructure. Moving to Cloud is the only option that helps cut costs and increase efficiency.
However, companies embracing digital transformation don't just focus on the new-age, razor-sharp technologies, but multiple other aspects of the business. Many companies focus on changing their business models and making them more digital. With changes in the way companies operate, there is a parallel shift towards digital products and platform economy over the last few years. Companies like Amazon, Facebook, and Google are setting examples for many new startups. Unlike the traditional linear business models that focus more on producing and selling, digital platforms empower users and connect dispersed networks of individuals through the platform to facilitate digital interactions. The new business models have also helped companies add new revenue streams.
With new business models, changing customer outlook, and rise in the platform economy, instant gratification is inevitable. Customers look for products and businesses that provide a second to none customer experience. They have a short attention span, and companies need to make or break in the limited window.
How to tackle the rising expectations of the new-age customer? Can improving customer experience answer all the problems? This whitepaper outlines the importance of customer experience, how to employ design thinking to enhance the customer experience, how to build a successful VOC program, how experiential data, such as X-data and O-data, helps uncover valuable insights, and so much more.