The economy in which businesses operate is transforming digitally at a rapid pace. Digitalization has impacted every aspect of how businesses operate. With such transformation, the responsibility of delivering enhanced and exceptional experiences to customers also increases.
Digital transformation has empowered customers to get what they want, when they want and how they want. Today, customers expect relevant content depending on their state of mind, time, and in their preferred channel of interaction. Customers are more digitally conscious and thus a point has been reached where businesses believe that a differentiation can be created through engaged customers. According to a study conducted by Salesforce, 75% of customers surveyed expect a consistent experience across all digital channels – online, social media platforms, on their phones, and in-person. The study also suggested that exceptional experiences drive customers to make new purchases and make repurchases. Hence, it is safe to say that digital transformation is as much about staying competitive as staying in business.
It can be established that companies that transform digitally are creating more engaged customers who buy 90% more frequently, spend 60% more per purchase, and are 5 times more likely to purchase with their preferred brand even when competitors have a better product or price.
Recent research shows that 35% of business executives claim that digital transformation helps them to better meet customer expectations and increase operational efficiency by 40%. The same study also shows that 38% of the executives plan to invest more in technology to make it their competitive advantage.
Alan Trefler, CEO and founder of Pegasystems, a multinational software company, said “Experience is about the customer. Software is about efficiency. Software is nothing if it doesn’t enhance the customer experience.” His insightful words were focused on how, in today’s digital era, customers drive digital transformation.
Given the current climate of a digitalized economy, innovative technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) continue to shape digital transformation and are believed to be the only way to attract and retain customers. Such digital technologies are therefore to be deployed to deliver seamless and consistent customer experiences. We are already witnessing the pace at which industry leaders are adopting digitalization which has left most businesses with almost no choice but to incorporate and embrace a digitally enhanced customer experience focus.
Delivering a world-class customer experience driven by digital transformation has largely benefitted organizations. According to the recent Deloitte report, companies with higher digital transformation maturity reported 45% revenue growth, 29% of highly digitized companies reported a positive impact on growth and innovation, and 41% emphasized a positive impact on sales and marketing functions.
According to findings from SAP’s recent Digital Transformation Executive, 84% of companies globally agree, and believe digital transformation is important or critically important to their survival in the next five years and 70% of leaders have seen significant or transformational value from digital transformation in customer satisfaction and engagement.
Hence, it can be concluded by saying that digital transformation, as applied to customer experience, represents the greatest radical change in the current times. So, what are you waiting for? Leverage digital transformation to provide your consumers with the enhanced customer experience they expect with Zykrr.
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