Disrupting through CX
We live in a world of digital transformation and disruption, with many long-established companies being challenged by newcomers who take new approaches to offering products and services in a marketplace. One of the main approaches these challenger brands take is by focusing on the customer first - and by figuring out how to improve the customer experience levels currently experienced in an organisation.
In this blog, we’ll take a look at 3 companies who disrupted their industries by taking a customer-centric approach.
Many fintech companies have emerged in the last few years and have found success through reimagining the customer experience in their industries. One such company is Monzo, which places a strong emphasis on the customer experience and user experience it offers through its app. For example, it takes minutes to open up a bank account and to start using the features on the app.
To add to that, Monzo has an online forum of over 40,000 users which receives over 15,000 posts per month where customers can interact with each other, ask questions and vote on which updates they’d like to see next. Monzo takes this feedback on board and uses these votes to guide how they develop their banking service. Talk about listening to your customers!
Gucci - Digital Transformation
Many fashion brands have hopped on a wave of digital transformation - adding technologies to improve the shopping and buying experience for their customers. Gucci for example recently launched an app that lets its users 'try on' various shoes using augmented reality technology. This offers customers a new way to interact with the brand, discover its latest offerings and also make sure that their purchases will actually suit them. Take a look at the video below to see how it works.
Ocado - Technology and Insights
Ocado entered the food retail scene with a completely new business model - online food shopping delivery. Ocado works by offering customers an easier alternative to shopping in physical stores, with next day deliveries, larger stock availability and by selecting the freshest and best products available.
The company uses large amounts of technology and data to leverage customer insights and offer an easy and seamless experience. For example, the data they collect allows them to personalise their service through product recommendations, and their website is designed to be very user-friendly. When a delivery is out, customers will get a push notification, allowing them to track their order and know the name and details of their driver should they have any questions. Giving the customer this much control over their order reduces any confusion or doubt which improves the experience.
In conclusion, listening to customer feedback and providing customers with superior experiences is the key for brands to succeed in the future.