Innovation and the Connected Customer
Today’s connected customers easily keep pace with cutting-edge technological trends in their personal lives. With smartphones and computers being used for everything, this puts the onus on businesses to stay ahead of trend as well. Responding to emerging technologies quickly and capably is a recipe for success in an environment where best-in-class-but-late-to-launch is seen as less valuable than functional-but-first-to-market.
Innovative businesses that deliver a next-level customer experience stand to win the day.
“Everyone is talking about innovation in new ways…
and it’s really about the customer.”
Global Customer Growth & Innovation Evangelist at Salesforce Innovation
Today’s Business Environment
- AN INCREASINGLY CONNECTED WORLD:
While thinking of ways to make your business innovative, take into account the technological landscape. Today’s consumer is more connected than ever: it’s predicted that by 2020, 70% of the global population will be connected. That’s 5.5 billion people.
Additionally, 72% of their devices and connections will be smart up from 35% in 2015.1 Cars, cameras, thermostats, and more will make the Internet of Things a reality. The implications, and pure potential, for the customer experience of tomorrow are enormous.
The future promises more customer interactions across more possible touchpoints. Innovative companies will leverage emerging technologies to deliver radically new and superior customer experiences – raising the bar for not only their industries, but others as well.
2. DROWNING IN DATA:
One advantage of our connected world is that businesses have unprecedented access to customer data. 90% of the world’s data was reportedly created in the past 12 months alone yet half of all business’s decisions are currently made with incomplete information.2
This failure to leverage data is more than wasted opportunity. The connected customer can be turned off completely by a business’s perceived unwillingness or inability to use data to improve the customer experience.
3. GREATER EXPECTATIONS
With big data comes big expectations. As leading businesses evolve their customer experiences, connected customers take notice. The result is increased demand for seamless experiences from every company across industries. Success depends on meeting that demand and high performers are responding.
The business of today needs to stay ahead of the curve to succeed. In Salesforce’s 2016 State of Marketing report, more than half of high-performing marketing teams reported driving customer experience initiatives across the business. Those same teams are 3.7x more likely to indicate that they stay ahead of tech trends. They’re also 1.8x as likely to say they’re increasing their spending on customer-facing apps, and 4.8x more likely to say they now engage digitally with customers.
Is your business making the investments in innovation that it needs to succeed?
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