Why (personalized) customer experience should be at the top of your agenda
Only 12% of F500 have remained since 1955. 40% of F500 will disappear in 10 years. Why? For years, companies have been competing on product and price because customers were looking for the best product at the best price. But the rules of the game have changed, especially since we entered the fourth industrial revolution. Building upon the digital revolution, the fourth industrial revolution is characterized by a fusion of technologies that blurs the lines between the physical, digital, and biological spheres. This new era comes with a hyper-competitive marketplace where customers are in the driver’s seat. As we are accustomed to having all the information we want within seconds and switching brands is a near-frictionless experience, customer expectations have risen higher than ever before. We are no longer satisfied with quality, a good price, good customer service etc. Customers don’t care if you claim you offer them a smooth omnichannel experience, they only care about connecting with you, the way they want and when they want. Only companies that succeed in engaging with their customers on a one-to-one basis, responding to their needs and (exceeding) expectations, have a chance to grow long-term loyalty.