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Reinvent CX with Technology to Survive

The global pandemic has proven that every CEO must continuously reinvent their business with future-fit technology strategies at the core -- B2C and B2B alike. To be future fit, companies in all industries must become digital innovators, especially on the CX front. Business leaders who have embraced digital are already seeing real-world benefits, but it’s not too late for your company to catch up.

Digital Innovators Rewrite The Rules of Business

To thrive in a world dictated by digital competency, companies must entirely rethink their operational and customer ecosystems. Business leaders cannot afford to take small steps or implement half-measure solutions in today’s market; it’s time for a full rebuild.
There are four rules of the new digital business to be competitive in the marketplace:

• Digital experiences -- deliver easy, effective, and emotional customer experiences.
• Digital operations -- focus operations on delivering customer value.
• Digital ecosystems -- build platforms and partnerships to accelerate and scale.
• Digital innovation -- innovate at the intersection of experiences and operations.

Digital Innovation Means Business Innovation

Every industry has a unique transformation opportunity. For example, retailers are transforming the role of brick and mortar stores to build customer loyalty and engagement. Regardless of industry, there are three core trends that drive -- and dictate -- digital transformation:

• Customer outcomes drive digital transformation in every industry
• Digital innovation is the untapped hero of customer service
• IT processes continue to have huge transformation potential

What It Means: Digital Transformation Will Define The Future Fitness of Your Business

Business leaders must help their organizations use technology to deliver the always-better outcomes customers expect rather than the products or services traditionally sold. Regardless of industry, there won’t be anything traditional about the future of business.

From personnel to platforms, expect to see a drastic departure from today’s norms. For example, direct-to-consumer business models will disrupt long-established industries like wholesale and software. As customers start to expect highly-tailored services, more trends will emerge:

• AI will be responsible for driving revenue and engaging customers (estimated up to 70% of engagements). 
• Business success will hinge on developing intellectual property in newly coveted fields like data analytics and machine learning; this will reimagine outsourcing and usher in more acquisition and investment opportunities.
• Companies will translate customer strategies mastered in the physical, offline world to digital-first customer experiences.