Digital transformation is often just a buzzword, especially if it is not targeted towards smoothening the customer experience. Just because people are increasingly spending greater time online, companies are striving hard to position themselves as ‘digital first’. Several business models have failed as they rushed towards new digital gadgets. Simply possessing AR, VR, IOT, AI, 3-D Printing, or using social media for digital marketing is not going to solve the problems if the entire ecosystem has not been thought out critically. The ones most successful in the digital age have been the ones who have strategized over time and created a holistic experience to benefit the customers. Examples of this includes Netflix, GE, Disney, Amazon and Starbucks. One needs to act on strategic insights and seize the right moments as done by Dunkin’ Donuts. There are three main criteria for knowing when to enter- novelty, credibility and the insight being actionable in real time.

Source:https://knowledge.insead.edu/blog/insead-blog/leveraging-digital-to-optimise-the-customer-experience-7431

Uploaded Date:16 March 2018