The IoT (Internet of Things), the convergence of IT and OT, rapid application development, digital twin simulation models, cyber-physical systems, advanced robotics and cobots, additive manufacturing, autonomous production, consistent engineering across the entire value chain, thorough data collection and provisioning, horizontal and vertical integration, cloud computing, big data analytics, AR/VR and edge computing amidst a shift of intelligence towards the edge: these are some of the essential components of the fourth industrial revolution.
https://www.i-scoop.eu/industry-4-0/
Imagine that your company’s technology is loved by customers, considered ‘best of breed’ in the industry, and has a steady NPS, comfortably in the 20s, 30s or 40s. Now imagine that in the midst of this success, some of your longest standing accounts begin to drop, others scale back their usage, and referrals slow way down.
How, you ask, is it possible? After all, isn’t the whole point of having a high NPS to ensure successful retention, upselling, and referrals?
Here’s the secret: When it comes to technology, NPS has a blind spot.
http://customerthink.com/tech-companies-beware-of-the-nps-blind-spot/
Putting customers’ needs before a brand’s self-interest is not an easy thing to do. But brands that do not address customer feedback and shift business strategies accordingly are missing an opportunity, according to Michele Silvestri, EVP and chief design director at GTB.
http://www.thedrum.com/news/2017/09/01/how-brands-can-use-technology-fix-the-customer-feedback-loop-brand-love-stories/
When marketers first started creating their own branded apps, user acquisition was their top priority. But they eventually realized that a huge user base doesn’t neccesarily translate to high app engagement, and many users abandon an app after a few tries. eMarketer’s Tricia Carr spoke with Lou Orfanos, head of sales and marketing at mobile engagement platform Localytics, about tactics and technologies that are helping marketers build up their apps’ active and engaged user bases.
https://www.emarketer.com/Article/Using-Right-Technology-Data-Keep-Mobile-App-Users-Engaged/1016776/
In the rush to offer “digital-first” technologies for customer interactions, many companies are falling short. One extreme example comes to mind: A company was experiencing a significant rate of abandonment for the mobile surveys opened by its customers. It turned out the first screen had three paragraphs of legal disclaimers that customers had to click through to get to the survey. Most of them just gave up.
https://www.cmswire.com/customer-experience/make-the-most-of-digital-first-strategies-by-blending-the-old-and-new/
Today, marketers can add more flourishes than ever to surveys. They can ask customers questions at the cash register, the online shopping cart, in an email, or via text—or in all these places. They can also pile on as many questions as they want... They have the technology to do it, so why not?
https://www.marketingprofs.com/articles/2017/32272/three-customer-feedback-myths-that-deserve-busting/
Internet of Things (IoT), the market for which will grow from $625.2 billion in 2015 to $1.29 trillion in 2020, has, helped drive this fundamental shift. It is this ability to connect brands directly with the end-customer that is making IoT one of the key agenda points in boardroom discussions.
http://www.financialexpress.com/industry/technology/internet-of-things-what-is-technology-all-about-find-out-here/1015206/
As a marketer, your ability to provide optimized customer journeys across media and channels throughout the customer life cycle has a positive impact on both your customer and your brand.
The expectations of an always-on customer are always accelerating. Consumers are not just comparing their experiences with your brand against those they’ve had with your direct competitors; today, they’re comparing their experiences with your brand against the best experiences they’ve ever had – with any brand. And, consumers are fickle. In fact, 75 percent say they would be willing to stop doing business with your brand after just a single bad customer experience.
http://customerthink.com/how-to-optimize-your-customer-journeys-its-not-just-a-technology-challenge/
The term digital transformation is increasingly creeping into the boardrooms of businesses both big and small. Finally, there is a realization at the top of many organizations that digital has genuinely changed the world and that business as usual is no longer an option.
Unfortunately, few executives understand either the nature of digital or how it has changed things. Worse still they are not turning to us, as digital experts, for the answers. In this post, I want to encourage you to embrace the new boardroom buzzword and move from digital implementor to digital transformation advocate.
http://mediatemple.net/blog/tips/digital-transformation-care/
A customer-centric approach has always been a fundamental strategy for business. However, lately it seems to have become more of an idyllic vision than a reality.
Technology allows us to reach customers across the globe. But, it has simultaneously driven us further apart. Whereas businesses used to be in tune with their customers' every need, many corporations today have gained a reputation for being both out of touch with their customers, and slow to innovate.
https://www.entrepreneur.com/article/308367/
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