Wanted: CX Modernization Stories
- November 27, 2018
- 1236 views
In today’s customer-centric business landscape, companies that don’t keep pace with the needs of those they serve find themselves on the path to certain trouble. A few years ago, Forbes writer, Steven Denning, pointed out that the life expectancy of a firm in the Fortune 500 was around 75 years. Today, it’s less than 15 years and declining. Companies with innovation strategies and capabilities that give customers the best experience possible are better poised for longevity and prosperity.
In the utility industry, this is true for both utility companies and the vendors that serve them. While failure is not acceptable, utilities are now expected to evolve the customer experience (CX) in tandem with other more “daring” businesses that accept a certain amount of failure as a “learning tool”. To call this daunting is an understatement, so utility companies often lean on product and service providers for help. This means that vendors don’t have to just know their customers (utility companies), they need to understand the deepest desires of their customers’ customers and use this knowledge to evolve their own businesses ahead of the pack. The ability to do this well separates the most valuable vendors from the go-home-early crowd.
Throughout December, we would like to hear from utilities with CX modernization questions, analysts with data-backed opinions and vendors about how they are staying ahead of CX modernization trends (think “case study synopsis”, not sales pitch, please).
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