According to Google, omnichannel shoppers have a 30% higher lifetime value than those who shop using only one channel (Source). This highlights the importance of accommodating your customers across various sales channels while ensuring continued relevance. Considering your team's probable familiarity with your customers, what steps do you take to put your strategy into action?
If it is one thing we have learned through the ongoing tech-revolution, it is that making the right investments in the right technologies at the right time can be the key to staying ahead of the competition for companies. Companies are constantly seeking ways to maximize the value of their existing resources, especially when it comes to their data and content. One such path that promises significant returns is the pursuit of relevant omnichannel digital experiences.
But what exactly do we mean by "relevant digital experiences," and why is it so critical in today's business environment?
To understand the power of relevant digital experiences, we must first understand the challenge of siloed CX projects….
Customer experience (CX) initiatives often operate in silos. While this may be okay for smaller teams but pose significant challenges within larger organizations. For mid to large scale organizations, collaboration with other departments, such as legal and IT, is a non negotiator. The intricate structures and protocols within a large organization demand a cohesive approach to data management. When data is compartmentalized or siloed, it becomes a major obstacle for CX initiatives. This proves costly in terms of both time and money. When your team needs access to essential data for the project, they typically end up creating a project specific solution, building point-to-point integrations, moving data from one system to another. This not only duplicates efforts but also slows down the entire process as you guessed it – you have to do the same thing over and over again for the next project with little to none reusability.
What further makes this problem even more messy is the inaccessibility of data from older backend systems, necessitating additional development work to make that data accessible to the receiving system. The result is a slow and cumbersome process that roadblocks innovation and efficiency, often resulting in more money being wasted without achieving the desired results. And often project managers and digital leaders end up getting hefty bills and extended deadlines without even coming close to their vision.
Enter Unified Data: A Game-Changer
For being relevant, we need to talk about unified data, we're referring to the consolidation of various types of data, such as customer, product, transactional, and content, from different systems like ERP, PIM, CRM, DAM, into a single data layer. This data layer becomes even more powerful when you add experience data, which provides context and behavioral insights.
A unified Experience Data Platform accomplishes more than just data consolidation; it activates the data and makes it available in the frontend experience. This, in turn, enhances the customer experience and reduces the time your team needs to spend on lengthy integrations while empowering companies to take control of their data, aligning with the cost-efficiency expectations of today's business leaders.
And the benefits of investing in a unified Experience Data Platform for customer experience are numerous.
Faster speed to market: Unifying and exposing experience data in one place empowers your digital teams to work more efficiently. Data democratization significantly shortens the idea-to-deployment process, allowing your team to create experiences at scale. No more last-minute data integration roadblocks before a project's launch!
Cost-efficiency: By unifying data from various sources into a single, accessible layer, it simplifies the data management process. No longer do you need to waste valuable time on repetitive point-to-point integrations. Instead, you gain quick access to real-time, accurate data, which not only enhances operational efficiency but also enables you to adapt swiftly to changing market conditions. The result is a cost-effective, and innovative business, meeting the demands of today's business leaders with precision.
Business resilience: In today's business world, data is the lifeblood of success. The ability to adapt quickly to changing market conditions depends on having accurate, readily available data. With instant access to real-time data, your business becomes more resilient, enabling you to respond to market changes fast enough.
Escape the integration nightmare: Unifying experience data eliminates the need to move data between incompatible databases and data models. It prevents the repeated building of integrations, saving time and effort. This time can be better utilized on initiatives that add value to your customers.
Be relevant everywhere: Unified Experience Data facilitates the rapid launch of digital initiatives. You can instantly access all the data you need to create context-specific experiences across various channels, be it your website, in-store displays, or mobile app. The data dynamically adjusts to maximize customer interaction in real-time, making the experience relevant.
Enable innovation and creativity: Access to unified data empowers your CX teams to be data autonomous. They can spend more time being creative and innovative, rather than struggling to access the data they need. An empowered team can drive innovation, making your customer experiences truly exceptional.
CONCLUSION: Investing in creating unified relevant digital experiences isn't just about improving your current operations… it's about future-proofing your business in a dynamic and ever-evolving digital landscape. Don't be left behind – embrace unified digital experiences and watch your business thrive in the digital age.
In a world where competition is relentless and customer expectations continue to rise, a unified Experience Data Platform can be a game-changer for your organization. It streamlines operations, reduces risk, and enables rapid adaptation to market changes. Your data becomes a powerful tool for driving innovation and delivering exceptional customer experiences. And as a digital or technology leader, you must first learn to unlock the true potential of your data. In the current years, the role of digital officers has evolved beyond delegating CX execution to the IT department. It is now their responsibility to ensure that their brand crafts compelling and relevant customer experiences. The onus is no longer on the IT team alone. In this fast-paced world, staying ahead means staying relevant with your customers, adapting to their needs, and consistently delivering experiences that resonate. As digital officers embrace this shift, they hold the key to not only staying relevant but also pushing their brand into the forefront of customer satisfaction and loyalty. In essence, in the era of rapid change, the true measure of success lies in the hands of those who prioritize and cultivate meaningful connections with their customers.
You can begin today! Get in touch and we’ll show you how!