The convergence of digital, social and mobile spheres in connecting customers is fundamentally changing the way customers need to be engaged – we need to engage them as individuals. The key underlying factor is technology. Technology is now driving more organizational change than any other force – even the economy.
To understand this scenario, we can look at the learnings from ‘The Global CEO Study, 2012’. The findings are from an exhaustive research across 1709 CEOs, across the world. The top three external factors, according to CEOs, that will impact the organization are ‘People Skills’, ‘Technology Factors’ and ‘Market Factors’ – in that order!
In India, the CEO’s focus is not on the technology itself, but rather on how it facilitates other sources of value. Human capital, Customer relationships and product/service innovation are the top three sources of sustained economic value, according to Indian CEOs.
So this leads to the question: How can CEOs create more economic value by engaging customers as individuals?
In a simple, three step process:
- They leverage “big data” to reveal the customer in a way they never knew.
- They listen lavishly and respond with focus.
- Finally, they are present where their customers expect them to be.
This is an excerpt from the presentation delivered by Sachin Seth, Partner – Global Business Servies, IBM India/South Asia at IBM ImperaTives 2012 at the Shiv Vilas in Jaipur.
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