Delivering a fast, effective, outcome-driven service experience, for the greatest possible margin, is the holy grail for organizations. But while the desire is there, the reality is vastly different.
Look no further than Forrester prediction for customer experience (CX) initiatives in 2019:
Stagnating CX quality will cause short, destructive price wars. Up to 20% of companies will throw in the towel and give up trying to differentiate on the basis of CX. Instead, they will just try to not get worse and resort to price cuts to grow.
While the financial reality of providing a service cannot be discounted, in our view there is a huge opportunity for organizations to both increase the quality of outcome you deliver AND generate more revenue in the process.
Technology, in and of itself, does not drive out cost or result in productivity gains, as the graph below demonstrates.
There is a huge disparity between what clients would describe as ‘ideal’ in terms of service delivery, and the economic reality of providing it. Technology, despite the promise it holds, does not come cheap. The combination of inflexible legacy systems with the high cost of change and development makes the case for change hard to justify. And that’s before you even consider the changing nature of customers themselves. How is an organization supposed to keep up with customer preferences when the cost of change is so high?
The reality is that in order for organizations to cross the chasm between customer need and viable operations, a new approach is required.
Organizations are in a bind because the numbers don’t stack up – which isn’t sustainable. A new approach to channel management is required that flips this on its head.
Today, it is possible to actually serve more customers, and deliver better outcomes at a much lower price point.
The key is adopting a more flexible approach to technology. One that doesn’t rely on ‘owned’ servers or investment-heavy change processes. One that leverages best of breed capabilities from multiple vendors, rather than a single tech stack that restricts your options. One that can be delivered in hours and changed in minutes, without the cost typically incurred from change.
One that allows you to stay ahead of your customer’s needs – at a superior price point to what you are used to.
We know this because we’ve been working with our clients to deliver exactly this type of solution. We very much look forward to exploring what this can offer to your business.