{"id":930,"date":"2022-07-27T12:52:26","date_gmt":"2022-07-27T12:52:26","guid":{"rendered":"https:\/\/customerminds.com\/?p=930"},"modified":"2023-11-27T10:37:30","modified_gmt":"2023-11-27T10:37:30","slug":"pump-up-digital-transformation","status":"publish","type":"post","link":"https:\/\/customerminds.com\/pump-up-digital-transformation\/","title":{"rendered":"Pump Up Digital Transformation"},"content":{"rendered":"\n
\"CustomerMinds<\/figure>\n\n\n\n

My trusty old bicycle has taught me two lessons in recent weeks. The first lesson is that pandemic era waiting lists to repair either your body or your bike are of roughly similar duration. The second lesson is that there\u2019s not a lot I can do about my weight or my age but\u2026. I do still want to go faster. Steve Jobs used to refer to computers as \u201cbicycles for our minds<\/a>\u201d. He liked the cycling analogy for its ability to illustrate how revolutionary technology could assist humans to \u201camplify their inherent abilities\u201d with vastly superior power, speed and agility at much lower energy costs. However, many of my bike journeys involve way too much friction and wasted effort as the rolling resistance from an old or soft tyre literally sucks the energy out of my lungs. So the best bit of news for those like me with \u2018older frames\u2019 and patchy weight loss regimes \u2013 is that current advances in tyre technology can reduce that rolling resistance by up to 50%.<\/p>\n\n\n\n

But for those of you less interested in cycling let me tell you how this friction and waste can also apply to your digital transformation projects<\/strong>.  IDC estimates that 70% of all digital transformation initiatives do not reach their goals and we particularly love the following quote from a global bank CFO in the latest Oliver Wyman report<\/a> on the Financial Services industry : \u201cI know 50 percent of my digital transformation is wasted \u2013 I just don\u2019t know Which50 percent\u201d<\/strong>.<\/p>\n\n\n\n

That 50% number has always resonated with us too \u2013 so much so we called our platform Which50!<\/p>\n\n\n\n

We view customer collaboration being represented on a spectrum which ranges from simple notification messages to complex, interactive, multi-channel customer journeys<\/a>. However, in most services business today\u00a0few customer journeys are fully digital<\/strong>, particularly as the complexity of the interaction with the business increases. \u00a0We believe that it is the gaps highlighted in the graphic below where up to 50% of current transformation spend is being wasted. Bluntly, there is still too much friction and waste in rolling out digital solutions which means that there are still many parts of the customer journey left untouched by the major transformation projects.<\/p>\n\n\n\n

\"Digital<\/figure>\n\n\n\n

CustomerMinds focuses on those \u2018digital gaps\u2019. Our Which50 platform brings decades of investment and enterprise grade power to businesses who need to deliver better digital journeys for their customers. Not everybody can be Stripe and roll out services on a relatively youthful base of modern digital architecture. Many businesess need to work with the existing \u2018frame\u2019 of their legacy platforms as they can\u2019t simply rip and replace their existing architecture.<\/strong><\/p>\n\n\n\n

However, this is where we believe our cycling analogy can inspire. We don\u2019t need to necessarily buy a whole new \u201cframe\u201d for the organisation. Instead, we focus on wrapping the existing infrastructure with some slick new tyres<\/strong><\/em> that support customer collaboration and reduce the friction across all customer journeys. Digital decision makers will be relieved to hear Which50 connects seamlessly with their core legacy platforms and databases,  and allows a business to create complex but engaging customer journeys across multiple channels. Even better, intuitive no-code interfaces enables speedy low cost delivery.  But, here\u2019s the big win.<\/strong><\/p>\n\n\n\n

Delivering personalisation at scale creates increased collaboration with customers which in turn, generates higher quality engagement and data collection. Now you\u2019re into Stripe-envy territory; high quality data provides better customer insights, identifies additional customer needs and generates additional products, services and\u2026\u2026revenue growth. That\u2019s the digital \u201cslicks\u201d in low friction motion. Which50 is an agile, quick and easy solution which can \u201cpump-up\u201d those flat legacy platforms in weeks, not months.<\/em><\/p>\n\n\n\n

Those digital gaps in the Which50 graphic are a very good delivery starting point. The operational results can be witnessed in weeks and reduce digital friction for customer journeys at much lower cost than other unwieldy solutions. Simply put, scalable personalistion has a positive impact on engagement throughout the customer journey<\/a>. That is a compelling return on investment for any business grappling with a \u2018spaghetti junction\u2019 of legacy platform and data\u00a0frame<\/em>works. The business case is clear.\u00a0Fill those gaps with better digital experiences and both customers and staff will be pumped.<\/strong><\/em><\/p>\n\n\n\n

If you would like to find out how the Which50 customer experience management (CXM) platform<\/a> can transform your customer journeys<\/a> and bridge the gap in your digital transformation project, so that you can act quickly to get closer to your customers please fill out the form below and you will receive our monthly newsletter.<\/p>\n\n\n

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