Consumers love tech in the brick-and-mortar retail experience

Consumers love tech fredzimny.blog_500A new Bouncepad survey reveals U.S. consumers love stores that offer technology and they want more tech options in the shopping experience.

bouncepad-asset-consumers-want-more-tech-in-store-infographic.jpg__150x300_q85_subsampling-2.jpgThe study results, as outlined in this infographic, cite that three out of four want more tech and say they are more likely to visit a retailer if wanted tech was available. More than three quarters (78 percent) want retailers to do a better job of using technology to boost the customer experience. The research also notes that nearly two out of three consumers prefer self-serve compared to waiting on a line or having to track down an associate for help or a purchase.

When it comes to technology options, shoppers want the tools to help them discover price, product and any potential discounts or promotions. The survey states that two out of three (66 percent of consumers) have used self-service tables and kiosks in the retail environment.

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AI Can Comb Through Your Data to Create More Compelling #cx Customer Experiences #custserv

The world has more data than ever before. In fact, it’s estimated that by 2020, we’ll produce 44 zettabytes every day. That’s equal to 44 trillion gigabytes. One gigabyte can hold the contents of enough books to cover a 30-foot-long shelf. Multiply that by 44 trillion.

That’s a lot of data — too much for most companies to process.

And yet front-line employees are still often left operating with data that’s “too little, too late.”

Most organizations are challenged to extract meaningful insights from their customer data when they’re drowning in so many data feeds.

Data is not always shared efficiently.

Many of the world’s biggest companies operate in silos — for example, their customer service and sales departments do not share a customer relationship management (CRM) database, and employees don’t collaborate around the customer to ensure a powerful customer experience.

More often than not, employees in one department don’t even know the employees in other departments, let alone use data that spans the organization. This often results in wildly inconsistent customer experiences that make companies look disconnected and unfocused.

Source: AI Can Comb Through Your Data to Create More Compelling Customer Experiences

INSEAD Knowledge: Setting the Stage for Digital Transformation

Being customer-centric in a digital world requires not a plan but a process.Digital technology has transformed business by rapidly eroding any and all barriers – physical, institutional or temporal – between customers and the satisfaction of their needs and desires. By now, nearly all organisations are aware that they must either transform or risk being replaced by disruptive competitors. But the prospect of making sweeping changes paralyses many firms.

Specifically, two questions keep popping up in our sessions with executives:

What are the guiding principles for successful digital transformation?

Where should we begin?

Regarding the first question: True digital transformation consists of an organisation leveraging technology across platforms and functions to radically and qualitatively improve the customer experience at the most important touchpoints.

Organisations have to create value for customers before they can create value for themselves. To make this work, organisations need to have the right enablers in place (e.g. culture and leadership, IT-infrastructure, processes).

And that is where the second question – where to start – comes in. The first step is an objective assessment of “digital readiness”, or where you currently stand as a digital organisation. Some companies are digital-savvy already; others are relative beginners. It makes no sense to adopt an advanced digital solution (e.g., Big Data, artificial intelligence, etc.) without the infrastructure and top-level competencies to support it. When it comes to digital, the only thing worse than standing still is running in the wrong direction.A brisk, purposeful walking pace is more effective than a desperate sprint. Just ask Silicon Valley. Software engineers innovate in stages, not in giant leaps. Instead of tackling several ambitious missions at once, they take a series of small steps, learn and then advance again. Their iterative processes – punctuated by periods of assiduous feedback-gathering – are responsible for products and platforms that have reshaped our world with surprising speed.

Read all: Setting the Stage for Digital Transformation | INSEAD Knowledge