Customer experience is a critical battleground for businesses. As fast-moving, innovative organizations set new bars for consumers’ expectations, their competitors have to catch up. However, any organization looking to succeed in the customer experience battleground must face, and understand, four foundational forces:
- Consumer power – consumers have more and faster ways to share their experiences; more ways to investigate the available choices; and more options if they don’t like an experience
- Digital transformation – consumers have access to a multitude of channels and expect interaction over the channel of their choice in real-time
- Regulation – increasingly stringent regulation means businesses have to innovate and compete with demanding business mandates while maintaining regulatory compliance
- Data – the ever-expanding amount of data available creates challenges and opportunities for businesses striving to deliver ever-more targeted experiences
This Quadient research report shines a light on these forces through the lens of the European consumer. It shows how the way in which businesses communicate and the way in which they follow regulation, such as data protection, greatly affects consumers’ decisions to do business with them. It also illustrates the value consumers place on their own data, and the importance of businesses providing that value through an improved experience.