Evolving Customer Expectations in the Age of Digital Disruption
Customer Expectations and the Impact on Organizations
It seems like every day we hear of a new Company, Technology, Fad, or Breakthrough. This means that our customers' expectations are constantly evolving, and this has a significant impact on how we sell together.
It is important to understand that these expectations are not static, they evolve as the market changes. Organizations need to be able to adapt quickly to meet these changing expectations. It is not just about meeting their needs, but also about exceeding their expectations by providing a better service than what is expected.
The most successful organizations today are the ones that have a clear understanding of what their customer's wants and needs are.
Organizations should always be striving to provide an excellent customer experience. Making the customer feel valued and understood is key. This can be done by using technology wisely and providing them with a memorable experience that they will not forget.
The Key Trends that Shape Today's Market
Two major trends that shape today’s market.
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Digital Transformation aka Digital Disruption 🎇
Is shaping the way businesses operate and how they interact with their customers. It is also the reason behind many of the changes in today’s market. This trend has been gaining momentum in recent years, as more and more companies are investing in digital transformation to stay competitive.
Everything is at my fingertips - literally! Correction - “Alexa, what is ChatGPT?”. 🔊 Information is as accessible and close to customers as your shirt is to your chest. If I can ask a personal assistant or Google and get relevant impactful content - what does that mean for me, my company, and our sales methodology?
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Doing more with less - aka Insights and actions 💱
This second major trend has led to a change in how companies maximize the value of their investments. Customers now expect businesses to be fully transparent about what they are selling. This means that businesses have to be able to provide (quickly and succinctly. the Average customer's time on a website is 3-5 minutes) detailed information about their products or services at any time.
Add to that - your Sales Teams need to be able to articulate the value that aligns specifically with the customer's business outcomes or challenge.
What is behind Customer Expectation Evolution?
The culprit, you guessed it, is the digital transformation and rapid technological innovations like AI. This continued proliferation not only increase and accelerated this change but also altered their behavior.
More demanding and less patient than ever before, customers are now looking for instant gratification. This is why companies need to be able to deliver it quickly and accurately if they want to keep their customers happy.
Organizations need to be aware that they cannot provide the same level of service as before and expect customers to be happy with it. They need to change their business model to keep up with customer expectations, or they will risk losing them altogether.
Current Examples:
The great Southwest Airlines Freeze of 2022
What are the Takeaways for Sales Leaders?
The takeaway for leaders is that they need to proactively manage organizational change to ensure that it is positive and successful. They should take into account what their employees want, as well as what will best serve their customers and stakeholders.
Organizational change has an impact on the personal lives of employees. While some leaders may take an overly-aggressive approach, many others have found success with a more flexible approach.
Leaders who choose to be flexible must be aware of how much they are willing to allow their employees to take over certain tasks and responsibilities. It is important to maintain boundaries for a healthy work-life balance.
Conclusion and Takeaways
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Customer expectations have changed and will continue to evolve. Your organization needs to change to meet them.
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Continued innovation and disruption like AI have altered customer behavior.
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Flexibility can be the key to success for today's leaders as they manage change.
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