The immediacy of service delivery, lower customer and operating costs, detailed analytics to inform the organisation of what customers want. This trio of disruptive trends is reshaping every single industry. It’s unlikely yours is exempt.
But rather than waiting to become a statistic, for business leaders looking to modernise their organisation, the first step is to understand the world around you.
These six questions can provide the starting point for your modernisation journey:
1. What’s happening in your industry?
2. Who are the disruptors?
3. What changes are occurring in how consumers access your products and services?
4. What does your customer journey look like?
5. What trends from other industries can be applied to how you do business?
6. What would successful disruptors such as Asos, Google or Uber do?
Take stock. What do your customers really want from your business? What physical and digital assets does your business have that support this? Are they fit for purpose?
Be aware. How well positioned is your business to utilise major digital commerce trends? How far off the pace are you currently?
Services like Amazon’s Prime and Alexa have moved the goalposts for everyone. Netflix’ uses its understanding of your viewing habits to create 1,300 ‘taste communities’ rather than rely on more static customer segmentation methods – that’s why its recommendations are so accurate.
Ask yourself these questions about how well your business utilises:
· image and voice search,
· chatbots for straightforward customer enquiries,
· AI diary assistants for scheduling appointments,
· integrated online and offline customer experience,
· same-day or next-day delivery
It may seem a daunting project but even small steps will help transform and futureproof your organisation. More importantly, they’ll protect it from becoming irrelevant then extinct.
For a strategic review of your business and its modernisation potential or for help along the journey, please get in touch with Melius.