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Article CX Strategy

There's More to Innovation Than Product These Days

What does it mean to be an innovative company in the era of customer centricity?

1. Moving beyond product to CX

An innovative company used to be defined around its ability to deliver products which break the mould. But now it’s equally important to evolve your relationship with customers at the sales and service level in the same way. Capabilities like real-time personalization shift the innovation focus to the overall customer experience.

RichRelevance (http://www.richrelevance.com is the global leader in omnichannel personalization and is used by more than 230 multinational companies to deliver the most relevant and innovative customer experiences across web, mobile and in store.

2. Understanding the customer context

Creating competitive advantage can be as much about leveraging the newest sources of customer data as stronger products.

Innovation isn’t a goal unto itself, it depends on the impact on customer perceptions of the company and its offerings. Companies can empower themselves by drawing on powerful information sources that provide social context around customers buying processes. Understanding how social connections influence customer preferences, interests and expectations is a key building block to a stronger innovation effort.

Apptus (http://www.apptus.com), a leading ecommerce enabling technology provider is at the forefront of leveraging online behavioral profile to provide clients with the abiltiy to better adapt to their customers.  

3. Infrastructure empowers innovation

Increasingly, companies that have a powerful omnichannel communications infrastructure have a far greater ability to innovate on the sales and service sides of their business. This is driven by greater access to customers across their entire buyer’s journey as well as their post sales customer lifecycle.

Call center software provider Avtex (http://www.avtex.com) extends its capabilities deep into customer experience by allowing clients to manage and blend inbound/outbound multichannel interactions, and give customers their choice of contact options — voice, email, fax and chat, as well as SMS, business objects, and social media 

4. New ways to create customer value

The focus on customer experience has transformed how companies see their customers. It widens the focus beyond simply using the product or service to how it fits into their larger goals and needs being met. That focus empowers innovation around new ways to create customer value that extends beyond simply product features.

As customer centricity takes hold as a pillar of a great business, it has redefined other key business strategies including innovation.

Sep 20, 2016  
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