Invest in tech to enhance customer value

New Ideas in MarketingEssential news for marketers, summarised by YouGov
May 25, 2021, 2:12 AM UTC

Companies that employ technology to augment their strategy, delivery, and communication have grown three times faster than their competitors.

Technology has helped firms understand and predict consumer requirements, boost product and service value, and more during COVID-19. Future-fit tech executives use technology in customer-obsessed strategic planning to maximise their customers' value as per the time and resources available.

Also, value streams could help businesses organise outcome planning, delivery, and operations to manage end-to-end interactions and provide value across the consumer journey. Businesses must invest in teams, rather than projects to deliver consumer outcomes and increase value continually.

For example, Standard Chartered uses a fixed-capacity model, with quarterly investment budgets based on team performances to derive the most value from tech investments. By considering customer feedback, analysing their behaviour, gauging engagement, and generating compelling customer stories, brands can provide value through technology.

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