The practices that we used seven to ten years ago for capturing customers’ hearts, minds and wallets are not effective any longer. Customers have become immune to them. This is an unpleasant truth no one really wants to hear. We are rather sitting ducks when we hold on to the past and think too much about the money, time and effort we have already invested in current customer engagement technologies and practices.
We have come to a breaking point and are entering the post-digital era, in which the early rules, practices and knowledge about digital business do not apply, and safe havens are under threat. The rise of big data, app-sharing and social economies, combined with smarter devices, cloud-based service disruptions, the IoT, hyper-fast connectivity, cloud computing and virtualised IT form the new normal, and will transform customers’ perception of time, place, access and cost of ownership.
Start Today to save Nexterday
The healing process for digital and communications service providers starts by admitting that their customer playbook is broken – and then, rolling up their sleeves and starting to fix it. What is noteworthy is that only by thinking across and looking outside the industry ́s blind spots can we see feasible ways out. However, before rushing to conclusions about the winning formula, a short reality check needs to be done, so we can set the bar high enough. In one CxO study by IBM, 93 percent of operators surveyed said they want to be closer to their customers.20 The question is, why? And do customers even allow them to be “closer”? Other studies show that 70 to 80 percent of the buyer’s journey is invisible to sellers and customers, who want to postpone their first contact with their digital and communications service provider. So “being close” is harder and harder – and does it even pay off in a traditional way?