How can your business create an innovative customer
experience (CX) that helps your stand out? It’s harder than one might think.
According to a recent Forester report, “Customer
Experience Innovation Demystified,” everyone talks about innovation, but no
one knows quite what it is or how to get it. Today, the biggest driver for CX
innovation is differentiation that will distinguish a company in the
marketplace. Thirteen percent of respondents are shooting for a better CX than
any company in any industry. The report states “innovation that drives differentiation
and long-term value is the key to getting there.
Additionally, more and more companies want innovation.
Customers have higher expectations than ever, upstarts are using technology to
compete, and competitive advantages do not last long. Forrester points to
customers being wow’d by new apps like Google Now, to Warby Parker’s Net-based
competition with established retailers like LensCrafters, and to USAA’s
short-lived advantage with its mobile check deposit app.
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However, the strategy and planning do not match the
ambition. Three-quarters of respondents focus on making incremental
improvements, not radical ones. And, less than a third said they connect CX
improvements with results that have business consequences. Not to mention, the majority
of respondents said their companies plan CX innovation by watching their competitors
or companies in other industries, 62 percent expect technological improvements
will help them innovate, and only 53 percent develop ways to understand customer
needs.
Ultimately, Forrester says that CX innovation differs from
normal innovation processes because it goes beyond traditional methods. CX
improvement enhances current customer needs, while innovation solves unmet
ones. Companies need to reframe their business opportunities as meeting
customers’ unmet needs. To do so, of course, involves looking at the company’s
CX from the customer’s needs.
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