SHIFTING GEARS FOR A NEW DIGITAL REALITY
3 Major Shifts for Middle Market Resilience
The world is changing around us, accelerated by the effects of the Coronavirus Recession. Middle market organizations are already shifting gears to navigate this new landscape. Rather than being thrown off-balance, the most resilient organizations are finding new ways to greet an uncertain future.
Look Closer at the Middle Market's Shift to the Future ⊲
Diverse Business Models
Diverse Business Models
Activating
E-commerce
Activating
E-commerce
Omnichannel
Selling
Omnichannel
Selling
Tech-Enabled
Selling
Tech-Enabled
Selling
DIVERSE
BUSINESS MODELS
Companies are exploring digital business models for a digital world, changing the way they create value by investing in new digital technologies.
LEARN MORE ABOUT EMERGING DIGITAL BUSINESS MODELS ⊲
Companies are upping their investment in their online platforms and digital channels, allowing customers to socially-distance while buying and helping drive revenue during shutdowns.
Activating E-commerce
Diverse Business Models
Activating
E-commerce
Omnichannel isn’t just for retailers. Companies of all stripes are investing in facilitating a safe and personalized customer experience across their different sales channels – online, telephone, and in-person. They’re also exploring co-branding and other strategic partnerships to lure customers back in-store.
Omnichannel Selling
Companies are investing in automation and artificial intelligence tools, like chat bots, to help fulfill online orders quickly and efficiently.
Tech-Enabled Selling
Omnichannel
Selling
Tech-Enabled
Selling
SHIFT IN SPEND
Customer
Wants
Customer
Wants
Customer
Pet Peeves
Customer
Pet Peeves
Customer
Self-Service
Customer
Self-Service
Delivering
on Digital
Delivering
on Digital
What Customers Want
Outstanding Digital Experience: Easy-to-use apps result in customer loyalty.
Customer Pet Peeves
Customer
Wants
Customer
Pet Peeves
Today’s customers value self-service options with minimal intervention and full traceability.
Customer Self-Service
Delivering on Digital
Customer
Self-Service
Delivering
on Digital
Curated Content: The right information at the right time.
3+2: We know customers follow the SEC model: Speed, Ease and Convenience. Now, customers have two more preferences: Transparency and Expertise.
Technical Difficulties: Error 404—Customers not found.
Confusing Websites: If your website doesn’t answer your customers’ questions, it’s not doing its job.
Outdated Apps: Broken links and poor functionality is worse than no app at all.
What Customers Don’t Want
Purchase Decision: Help B2B customers eliminate rogue spending with self-service purchasing capabilities that include customized approval settings.
Research: Offer recommended systems and automatic price and comparison tools to aid product research.
Digitizing Supply Chains: Using technology to create a digital record of your supply chain can help you identify issues and delays more quickly, reducing interruptions for your client.
Digitizing Communication: Use online platforms to conduct (and monitor) communications with your customers and respond to questions and requests more quickly.
Digitizing Data: Shifting your data to the digital sphere makes data analysis faster and more efficient, leading to better service to your clients as well as a better understanding of their customer wants and needs.
Order Process: Automate checkouts with “Just Walk Out” technology, featuring computer vision and sensors.
Fullfillment: Enable live tracking to check real-time order status and reschedule or reroute deliveries.
Customer Support: Reduce tickets and customer complaints with a self-service portal that has discussion boards and FAQs.
u
u
u
u
u
SHIFT IN DIGITAL
The New Customer Experience
The New Customer Experience
The New Service Model
The New Service Model
The New Customer Experience
The customer experience has to change, and some customers aren’t happy about that. Companies must ask themselves what makes a digital experience work for their customers and what tools they need to orchestrate a digital customer service experience that produces the same level of high-touch quality as in-person customer experiences.
The New Customer Experience
The New Service Model
Digital Tools + Physical Expectations
It isn’t enough to give customers self-service features. You need to pair these features with customer service representatives. Giving customers the option to interact with a real human helps build brand loyalty and drive repeat buying and referrals.
Self Service + Customer Service
The New Service Model
SHIFT TO REMOTE