The global pandemic provided additional motivation for businesses to expedite their digital transformations, and those who were already ahead of the curve were able to weather the storm and, in many cases, thrive.
Nearly every organization today is a digital business, and digital transformation is a foundational strategy required to innovate, stay competitive, and, indeed, survive. Delivering an excellent digital customer experience is undoubtedly the most pressing application of digital transformation. Going digital, and expanding it, is no longer only the realm of CIOs and IT teams, thanks to the convergence of customers and technology. From top marketers to CEOs, virtually every leader with a stake in the customer connection needs to be actively engaged in transforming their people, processes, and technologies to meet ever-evolving consumer expectations.
Customer experience management solutions, which include content and commerce, customer journeys, data insights and audiences, and marketing workflows, have formed the foundation for highly personalized experiences that promote loyalty and lifetime value. While most executive executives recognize the strategic importance of these technologies, few have the time or space to learn more about how they function as long as the leads and income keep rolling in.
How can leaders provide Support?
The following recommendations are not just simple adjustments – they necessitate systems that support first-party data practices.
Third-party cookies are useful for identifying and following new customers, but when handled poorly, they can lead to unpleasant experiences. The future of consumer interactions is about creating experiences with them, not about advertising to them. Executives should make it clear that in order to do the right thing for their company; they will value transparency, control, and authentic experience over short-term advantages that can harm relationships and results in the long run.
Create a new standard
Setting KPIs that prioritize quality over quantity while transforming from a transactional to a relationship-oriented strategy, is essential. Loyalty, brand emotion, lifetime value, and repeat purchase data should at least be as important as site traffic. This will necessitate a cultural transformation in how teams define and are rewarded for their success, i.e., not just tracking against short-term KPIs but also incentivizing long-term value creation.
Shortcuts should be avoided
Companies should spend time and money developing, testing, and refining new consumer data strategies in order to move away from dependency on third-party cookies. The same can be said for data-driven personalization tools. There are a slew of new tools and methods claiming to enable brands to jump the hard work ahead. However, there are no shortcuts if businesses want to build trust and stay relevant to their consumers. Customer Data Platforms (CDPs) are emerging as the personalization platform of choice, as they are specifically intended to support first-party data strategy and data governance.
Employees should be empowered
Employee buy-in is required for brands to look to a cookie-free future, even with the most thorough strategy and superior technology. Change management is just as vital as the change itself, and it necessitates a well-informed and empowered workforce. This can entail blurring the lines between teams so that they can work more collaboratively, as well as merging teams in some circumstances. It’s also critical to provide employees with the training, education, and tools they need to take on new tasks and expectations as part of this change.