In the aftermath of a truly trying year, we’ve pretty much sworn off personal resolutions in favor of taking things one day at a time. But when it comes to growing a business, we believe some resolutions are still required. For the sake of successful digital transformation (DX), here are three things we’re holding tightly to in 2021 and beyond.
Obsess over your customers
According to Adobe’s 2020 Digital Trends report, “Brands leading the way in customer experience are three times more likely to have significantly exceeded their 2019 business goals.” Those are some serious odds stacked in your favor when you make customer experience (CX) a top priority. It turns out those who work the quickest to meet their customers’ needs are the businesses that come out on top. In the same report, we learn that most companies are encumbered by outdated workflows and internal barriers to communication and collaboration. Instead of breaking business resolutions in 2021, demolish those silos that have been holding you back.
Need further proof? New research from Dimension Data shows companies that worked on improving CX saw a 92 percent increase in customer loyalty, an 84 percent uplift in revenue, and a 79 percent cost savings. Talk about some serious ROI.
Create safe working spaces
The way you treat your employees comprises a big piece of the user experience puzzle. We’ve seen time and time again that in order for DX to be successful, leaders must create a culture that aligns with core business values. As we move further into our new normal, safe working spaces are essential to creating a positive and productive experience for your teams. According to a recent WeWork survey, 90 percent of people want to return to the office at least one day a week, with 20 percent of that group wanting to go back for the full five day workweek. With this in mind, reimagining the physical office environment is a must, as is having a transparent health and safety plan in place.
This could mean making the current work-from-home standard more of a permanent policy. For those who need to be on site, consider redesigning the office space for optimal safety including dedicated and distanced work stations.
Build strong partnerships
There’s value in competition when “rival” companies bring different strengths to the table. To create more value for your customers, consider strategically partnering with businesses that share your core values but also provide products or services that you don’t.
In its Digital Transformation Index 2020, Dell notes 20 percent of respondents cited “too few technology partners” as a common roadblock to successful DX. Partnerships hold unlimited possibilities and have the immediate effect of expanding on current capabilities. As a recent Forbes article puts it, “Rather than trying to keep everything under one ‘house,’ companies are realizing that they can simply partner with the best people in other organizations to make even stronger products and services. And moving forward, tech will become so much more complex, that working with partners will likely be the only realistic option.”
As we move into a (hopefully) less chaotic year, it’s essential we plan for difficulties both known and unknown in the months to come. To stay ahead of the game, put a greater emphasis than ever on CX, but don’t forget about your employees. Be an advocate for your customers while building safe spaces (literally) for those employees who want, or need, to spend quality time in the office. And don’t be afraid to ask for help, even if (and sometimes, especially when) it’s from the competition. Strategic business partnerships can be an effective way to ensure that all boats rise together, no matter how severe the storm.