New Customer Expectations Driving Digital Innovation

3AI March 27, 2023

Featured Article:

Author: Nitin Srivastava, Director – Data & Analytics, Advance Auto Parts India

To ride this tide of disruption, it is crucial to understand the pulse of customer behavior and demand and integrate it into a digital first approach.

One of the key changes brought about by the COVID pandemic was the acceleration of the digitization of customer interaction, by several years. During the pandemic, customers rapidly adapted to digital channels which resulted to companies and industries across sectors shifting their modes of offerings. While some organizations who were already in the middle of a digital revolution, sped up their existing digital projects, others began integrating innovative technology and digital-led capabilities for the first time. To ensure long-term business growth, responding to need based requirements won’t be enough. For companies to be become future-ready and remain competitive in this new economic environment of the post-pandemic world, identifying and capitalizing on key digital trends will be key.

To ride this tide of disruption, it is crucial to understand the pulse of customer behavior and demand and integrate it into a digital first approach. This method enables a company to innovate with new products and services by combining the customer expectations with the trending digital landscape. It is crucial that the right digital and data capabilities are leveraged across the business value chain, from the sales to the supply chain, to render a successful digital transformation.

Changing modern customer expectations

The new generation of customers today are increasingly active across a multitude of digital channels with digital interactions clocking a record high. They demand relevant, seamless, consistent and rewarding experiences and anything less can trigger a loss in sales and in many cases loss of a valuable customer. Further, the digital experience curated must extend across all touch points to render consistency. To design a successful customer journey, it is important to leverage technology and create a personalized digital journey while retaining the humane element.

There has been a shift in preference towards DIY service—wherein customers are willing to use the information provided by companies and resolve the issue themselves, if possible. As a result, businesses need to balance their support for both agent-assisted and self-service channels. Today digital first companies, use analytics and data to understand their customers, design their digital journey and continually improve and personalize the customer experience.

These new customer expectations need to dictate the digital transformation playbook of organizations. Select steps that are key to furthering a seamless digital first customer experience, include: 

• Interactive mobile apps enabling a direct connection with customers by providing them with product information and education customized basis their requirement. It must aim to deliver an innovative, rave-worthy shopping experience by using emerging technologies and user experiences.
• Provide a seamless app-onboarding via automation, including functions like virtual assistants. First impression is a vital step in the customer journey. Leveraging automation technology, to ensure a seamless, smooth introduction to any step in the customer journey will boost retention and improve engagement.
• Leverage Virtual reality to provide interaction with the products and brand in a fun, educational and innovative way, thereby completely elevating the consumer’s experience. 

• Create a dynamic assortment of productsusing an AI-driven assortment model. This approach helps driving sales through implementing merchant strategies, applying true demand to create machine learning forecasts and automating the inventory placements. It ensures that the customer gets the right product at right time.
• Keep it personalizedby leveraging data & analytics to keep a tab of registered customers and sending them buying suggestions based on past purchases and buying preferences.
• Take the automated way by setting-up automated systems as automated responses engage and provide services faster than human advisors or customer care services. It also saves time and mitigates prejudices, keeping the communication unbiased and polite.

Way forward for Organizations – Digital First

Technology today is truly the key to bring customers across geographies closer to the business and drive consumer satisfaction. Exploring, developing and deploying the correct technologies will help companies provide a positive customer experience and help them stay ahead of the digital curve which is clearly on the economic horizon. Ultimately, technology needs to be embedded in every part of your business. The difference between thriving and struggling for many firms will depend on their ability to apply technology and thereby adapt to new changes. With the ever-shifting digital landscape, brands must continually re-calibrate and innovate, aligned the changing customer demands and expectations.

Title picture: Voice & Data