The Future of Customer Experience: Digital DNA

Companies don’t transform markets through incremental efficiency.  Enterprises that have supported IT with conventional efficiency infrastructure will be obsolete by non-traditional infrastructures and revitalized by new consumer experiences.  We’re talking about digital.  Digital is not coming soon, it’s already here, everywhere around you-you just may not see it.

 

Digital is not an apple watch. Digital is not your iPhone. Digital is not your 54” flat screen.

 

Digital is a new experience.  Digital impacts our employee’s perspectives, beliefs, values, and how you support customers-how you share the experience.  Digital is how you feel when you are in a crowed mall at Christmas and people are coming at you from every direction.  The rate you’re processing information is exponential, you are engaged! This is the new consumer experience. 

 

Product, place, price and promotion all have their role. Conventional rules, staples really, that are simply arm length references.  Companies no longer compete on product or service they compete on experience.  Once safe by location, companies are now floating and are everywhere. The physical location of products or services has become everywhere. Consumers want to create their own path. Flow is the future. Don’t memorize the path, create your own experience, and we can create a custom path for your customer’s experience.   Interrupting consumers to provide a digital moment or a mobile moment is a fade. 

Today we must intercept, make contact, engage and connect our brand with our customers.

Why are they getting support? Are we predictive when it comes to behavior? Are we paying attention to how and why consumers engage? If we don’t, we don’t know our customers. If we don’t know our customers we don’t have intelligent metrics, measuring the right things to drive informed decision marketing.  Providing only products or services, is no longer competitive. The value, is the experience.

 

It used to be simple, we compete on price. It’s simple really, we keep costs down and we’re competitive right?  Today that’s no longer good enough to grow a business or build 10x margins.  We have to go beyond price to exchange.  With exchange a consumer gives you their attention for engagement and thus our company value is now created (enhanced network effect). Price has become exchange, the value of the experience.  

Value is created through experience.  Price still matters but it matters less.

Experience matters more, do we compete for the customer support experience today?

 

Promotion used to be enough – we’d use the powerful word of mouth or even take a chance with (gasp) a promotional strategy.  This approach does not create enthusiasm. Promotion has become evangelism. We must create a mission and brand experience that inspires our customers to engage with us – and share their experiences.

 

Whether its nano devices, ingestibles, wearables, or interactive support, the consumer experience is being extended. Together let’s extend our business to envelop this enhanced customer experience leveraging our company’s existing strengths and capabilities to build for tomorrow.

Digital is more than engagement, it’s the experience you customers won’t ask for.

If you’re unsure how to start, just ask I’d be glad to illuminate the path towards 10x margins.

 

References

DemoClouds. (2015). System Integration (Online Image). Retrieved September 9, 2015, from http://www.democlouds.net/en/solution-systemintegration.php

 

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Peter is a technology executive with 19 years of experience, dedicated to driving innovation, digital transformation, leadership, and data in business. He helps organizations connect strategy to execution to maximize company performance. He has been recognized for Digital Innovation by CIO 100, MIT Sloan, Computerworld, and the Project Management Institute. As Managing Director at OROCA Innovations, Peter leads the CXO advisory services practice, driving digital strategies. Peter was honored as an MIT Sloan CIO Leadership Award Finalist in 2015 and is a regular contributor to CIO.com on innovation. Peter has led businesses through complex changes, including the adoption of data-first approaches for portfolio management, lean six sigma for operational excellence, departmental transformations, process improvements, maximizing team performance, designing new IT operating models, digitizing platforms, leading large-scale mission-critical technology deployments, product management, agile methodologies, and building high-performance teams. As Chief Information Officer, Peter was responsible for Connecticut’s Health Insurance Exchange’s (HIX) industry-leading digital platform transforming consumerism and retail oriented services for the health insurance industry. Peter championed the Connecticut marketplace digital implementation with a transformational cloud-based SaaS platform and mobile application recognized as a 2014 PMI Project of the Year Award finalist, CIO 100, and awards for best digital services, API, and platform. He also received a lifetime achievement award for leadership and digital transformation, honored as a 2016 Computerworld Premier 100 IT Leader. Peter is the author of Learning Intelligence: Expand Thinking. Absorb Alternative. Unlock Possibilities (2017), which Marshall Goldsmith, author of the New York Times No. 1 bestseller Triggers, calls "a must-read for any leader wanting to compete in the innovation-powered landscape of today." Peter also authored The Power of Blockchain for Healthcare: How Blockchain Will Ignite The Future of Healthcare (2017), the first book to explore the vast opportunities for blockchain to transform the patient experience. Peter has a B.S. in C.I.S from Bentley University and an MBA from Quinnipiac University, where he graduated Summa Cum Laude. He earned his PMP® in 2001 and is a certified Six Sigma Master Black Belt, Masters in Business Relationship Management (MBRM) and Certified Scrum Master. As a Commercial Rated Aviation Pilot and Master Scuba Diver, Peter understands first hand, how to anticipate change and lead boldly.