Even though modern technology is introducing new capabilities for organisations looking to adapt to evolving customer needs, the human element should never be forgotten. Whether it is a business-to-business or business-to-consumer company, much of its success comes down to how adept it is to build customer engagement and deliver a good experience.
New start-ups have emerged that are challenging incumbents who are still reliant on traditional processes and systems. And while these have defined services in the past, new service providers are innovating and working faster to show value to customers that now demand everything virtually in real-time.
Events of the past 12 months have shown the importance of team collaboration and remaining connected to distributed employees. This has seen the traditional hierarchical structures changing with companies moving faster to deliver on a better customer experience. And one of the ways they are doing this is by empowering employees with the tools to do so. Companies must now be more agile than ever and deliver on a dynamic value proposition regardless of the geographic location of workers and customers.
Thanks to the democratisation of technology, it has become affordable to start up a new business relatively quickly. The system scale and investment needed to deliver a compelling value proposition has been removed across many industry sectors. Having access to high-performance computing capabilities in the cloud mean small companies can rapidly adapt to deliver on-demand and do so more cost-effectively than previously.
Adding to the impetus behind the shift to agile processes is the normalisation of digital sales channels. Teams now have easier access to customers across more mediums. They can now connect and share relevance on those platforms that are best geared to specific customer needs. In many instances, customers are looking for partners that can bring something new and innovative to their business, meaning they are open to exploring new opportunities regardless of how the engagement happens, whether in-person or via digital means.
Because of the scalability provided through the cloud, start-ups must not feel they cannot go after clients they would ordinarily consider too large to service. Combining passion and energy with technology innovation provide these smaller companies with more flexibility to adapt to customer demands and the ability to take on the incumbents. But it is not only about relying on technology. They must focus on finding and attracting great talent and give them opportunities to take ownership of areas of the business.
Getting any new business off the ground requires commitment and hard work. But beyond that, management must realise that they have the responsibility to make things happen. They must lead by example. In this way, they can attract talented people that are best able to supplement their skills with unique expertise. Successful entrepreneurs like Deep Patel are known to take responsibility and lead by example.
But beyond having the right staff, no company should ever grow too big to lose touch with its clients. Every business must understand how its products or services are geared to help customers accomplish their goals. As part of this, keeping an eye on the competitive landscape is critical. Often, the first opportunity a business needs to get in the door is based on a failure of its competition. Similarly, the business must continually examine how long its offering has a life until it risks being disrupted by a newer, more agile organisation.
If any company wants to be successful in the new normal, its employees must work hard, remain committed and passionate, and deliver value to customers. In a world driven by innovation, the customer experience will be one of the most significant keys to success.
- Nick Bell, Group CEO of Decision Inc.