In the experience economy, reimagining the customer and employee experience matters more than ever
We are all living in the era of the experience economy. In this era, which has been gaining strength in recent years, everything centres around the quality of experience. It’s how businesses attract talent in markets affected by skills shortages. It’s how they lure in new customers in a crowded market. And it’s how they deliver exceptional results, time and again.
Businesses need to tap into the true potential of the experience economy if they want to continue to grow and succeed. So what is it? Harvard Business Review summed it up beautifully in the nascent days of this new phase of business, saying “An experience occurs when a company intentionally uses services as the stage, and goods as props, to engage individual customers in a way that creates a memorable event. Commodities are fungible, goods tangible, services intangible, and experiences memorable.”
We’ve well and truly passed the first wave of the experience economy, when digital transformation was all about putting a digital front-end on organisational processes to make life a little easier for employees. Now, we’re now entering the second wave. And this is where things start to get interesting.
The second wave of transformation
Today, businesses are transforming their digital capabilities end-to-end in order to improve everyone’s experience. This end-to-end digital transformation helps save money, drive operational efficiency and create a more seamless, personalised and effective experience. We touched on this idea of true transformation and digitalisation in a recent blog … let’s explore it further here.
Here are just some of the incredibly exciting ways that technology is reimagining the experience for customers and employees:
- Chatbots and AI take customer service to a new level, while taking the load off your customer care team
- Data-driven, personalised marketing journeys better connect with prospects along the entire funnel
- Digital tools and platforms replace old, manual, paper-based systems like payroll and employee onboarding to boost productivity and free up teams to focus on growth
- Predictive analytics helps identify and target at-risk customers
These are just some of the opportunities available today. The list goes on, and it naturally varies depending on the industry you’re in. But the point is, there are many ways to enhance the customer and employee experience.
Of course, getting from where you’re at today won’t happen in one go. Particularly if many processes are still manual or don’t lean heavily on data. You need to take an iterative approach to transformation, constantly evolving and improving your offering to reap more benefits over time. If you get it right, your customers and employees will benefit from better experiences, too.
The tools to transform
The hardest part about digital transformation can be knowing where to start. Finding the right platforms upon which to innovate, without excessive cost or complexity, is key. The last thing you want is to be bogged down in new technology implementations that get in the way of a great experience.
It’s why DocuSign is such a perfect – and popular – partner for those seeking quick wins in the experience economy. At its heart, DocuSign is built upon delivering a great experience. It’s fast and seamless for signers. It’s super easy for the teams creating the agreements. It saves trees, and saves you money.
And, it isn’t just about technology. We also believe businesses can only create better experiences by understanding their employees and customers better. People today seek out convenience. And this is what DocuSign delivers. To get started, contact us today.