As companies mass customize services going forward, CIOs and technology executives must help hyper-personalize experiences for both customers and employees
We are living in an experience economy. Over the past 20 years, as we’ve transitioned from a services economy, the experiences that customers now come to expect has changed the strategic bearing of companies – regardless of whether they are B2C or B2B businesses.
This phenomenon has accelerated as technology-led disruptors such as Amazon, Airbnb, Netflix and Uber have upended entire industries over the past decade. As a result, customers have become conditioned to receiving extraordinary experiences from these and other customer-centric brands. Companies that fail to deliver consistent customer experiences run the risk of being replaced.
Meanwhile, extensive research on the topic underscores the criticality of delivering solid employee experiences. A study by MIT finds that companies in the top quartile of employee experience achieve twice the innovation, double the customer satisfaction and 25 percent higher profitability than organizations with bottom quartile employee experience.
As companies build out their Systems of Experience™, it’s incumbent upon CIOs and technology executives to ensure that these systems are hyper-personalized for customers and employees and tailor them to address changing behaviors and expectations. Companies that fail to make this pivot will lose out.
How the Experience Economy is evolving and why companies need to get onboard to survive and thrive
Why CIOs and technology executives are at the nexus of this shift and the roles they should play to enable their organizations to accelerate into the future
Why the rules for customer engagement have changed along with recommendations for decision-makers to adapt
Advice on how companies can strengthen their experience strategies now and into the economic upturn