Adobe Digital Dialogue

May 16, 2017 /Digital Marketing /

Transformation is all or nothing

With the impend­ing arrival of Ama­zon, cre­at­ing mem­o­rable cus­tomer expe­ri­ences needs to be a pri­or­i­ty for all Aus­tralian busi­ness­es. As dig­i­tal tech­nol­o­gy con­tin­ues to dis­rupt, busi­ness­es are no longer dic­tat­ing their rela­tion­ship with cus­tomers. Instead, the cus­tomer is in com­plete con­trol. As con­sumers, we love this, but as busi­ness­es we are con­stant­ly rac­ing to keep up.

Just when we think we’ve fig­ured out our strate­gies, new expe­ri­ences and tech­nolo­gies emerge, cre­at­ing more com­pe­ti­tion across indus­tries than ever before. This com­pe­ti­tion cre­ates a man­date for every com­pa­ny to trans­form itself. A brand hop­ing to sur­vive and pros­per must trans­form into an “expe­ri­ence busi­ness,” where deliv­er­ing amaz­ing cus­tomer expe­ri­ences is the top-line busi­ness goal.

Being an expe­ri­ence busi­ness means com­pa­nies need to be more than just sup­pli­ers of prod­ucts. They need to be cre­ators of mem­o­rable expe­ri­ences. We are offi­cial­ly rid­ing the expe­ri­ence busi­ness wave and it rep­re­sents the sin­gle biggest dis­rup­tion we have seen in enter­prise in decades. It is the new bat­tle­ground where we will all com­pete for the fore­see­able future. From the CEO to the newest employ­ee, we are all stew­ards in the expe­ri­ence.

This year, Gross Domes­tic Prod­uct (GDP) is only expect­ed to grow by about 3.5 per cent. There­fore, in order to grow, most brands will need to start attract­ing cus­tomers away from com­peti­tors. If you and your organ­i­sa­tion haven’t tak­en the nec­es­sary steps, you are already falling behind the com­pe­ti­tion.

To become a suc­cess­ful expe­ri­ence-led busi­ness means imple­ment­ing a com­bi­na­tion of con­text, the right expe­ri­ences in real-time, and tech­nol­o­gy inte­gra­tion that dri­ves inno­va­tion. For­rester pre­dicts that insights-dri­ven busi­ness­es such as Ama­zon, will col­lec­tive­ly gen­er­ate US$1.2 tril­lion (AU$1.6 tril­lion) by 2020. That’s up from a col­lec­tive US$333 bil­lion (AU$442 bil­lion) in 2015. It does not mat­ter how big or small a busi­ness is, nor what sec­tor it oper­ates in, the premise for the jour­ney to becom­ing a dig­i­tal-led brand is the same. By under­stand­ing the cus­tomer at a deep­er, insights-based lev­el, busi­ness­es are bet­ter pre­pared to deliv­er well-designed, con­sis­tent and per­son­al expe­ri­ences at every touch­point in the cus­tomer jour­ney.

Con­text is at the heart of the cus­tomer expe­ri­ence. It is what we do intu­itive­ly as humans. In any giv­en sit­u­a­tion, we as humans don’t change, but the con­text can be dra­mat­i­cal­ly dif­fer­ent. Tech­nol­o­gy helps deliv­er con­text at scale, and evolv­ing a data strat­e­gy to a con­text strat­e­gy is crit­i­cal. How­ev­er, while con­text will pro­vide the cues, it is no use if an organ­i­sa­tion can’t back it up with the right expe­ri­ence for their cus­tomers. To be com­pet­i­tive in this dig­i­tal age busi­ness­es must design com­pelling expe­ri­ences engi­neered for speed and scale. This may mean rethink­ing a con­tent sup­ply chain — start­ing with a beau­ti­ful design which can then be scaled through automa­tion and deliv­ered to mil­lions of indi­vid­u­als online.

Man­ag­ing these per­son­alised expe­ri­ences seam­less­ly seems sim­ple to the con­sumer, but from the view of the enter­prise, it is very dif­fi­cult. This is espe­cial­ly true when bound to lega­cy sys­tems that were nev­er intend­ed to scale in real-time. Inno­va­tion can pro­vide the answer to this, with tech­nol­o­gy act­ing as the cat­a­lyst. By break­ing down the walls between teams and inte­grat­ing data, con­tent and work­flows, tech­nol­o­gy unlocks inno­va­tion.

Organ­i­sa­tions that have not tak­en the ini­tial steps to becom­ing expe­ri­ence busi­ness, with a holis­tic view of their cus­tomer, will con­tin­ue to fall behind their com­peti­tors. This was inevitable from the moment ear­ly dig­i­tal dis­rup­tion began. If Aus­tralian busi­ness­es have any inten­tion of com­pet­ing with Ama­zon and oth­er major com­peti­tors, now is the time to trans­form.

This arti­cle was orig­i­nal­ly pub­lished on The Aus­tralian

Digital Marketing

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  • By layer point - 3:35 PM on May 16, 2017   Reply

    I com­plete­ly agree with the author! This world is trans­form­ing at a fast pace.What is a trend today,is obso­lete tomorrow.So com­pa­nies must try to inno­vate and diver­si­fy. The idea is to cre­ate a bet­ter user expe­ri­ence. Any com­pa­ny must pro­vide a bet­ter user expe­ri­ence than its rivals to lessen com­pe­ti­tion. And this thing can only be done through diver­si­fi­ca­tion or innovation.Try any­thing new and unique with your product.Add new fea­tures to your prod­uct.

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