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Welcome to the year of the customer

Simon Tate, Area Vice President for Commercial Business, Salesforce | Jan. 11, 2016
In our interconnected world today, customers expect better, faster, and more personalised service than ever before. In this Year of the Monkey, how will technology change the way customers expect brands to engage them?

This vendor-written piece has been edited by Executive Networks Media to eliminate product promotion, but readers should note it will likely favour the submitter's approach.

The coming Year of the Monkey looks set to be a year of change, not just in the technology sector but in every industry, with technology embedded in everything we do. The rise of mobile and social technologies has made end-users more empowered and knowledgeable than ever before. At the same time, enterprises today can leverage the cloud to make faster, more efficient software changes; use social media to connect with customers; deploy predictive analytics to determine what their customers will want and connect and control devices via a central point with the Internet of Things (IoT).  

Enterprises need to recognize the increasing role technology plays in their business or risk becoming laggards when connecting to today's tech-savvy customers. What are the latest trends that businesses need to take note of in the coming year to engage with their customers?

Connecting Internet of Things to Internet of Customers

The combination of mobile, social, sensors, wearables and cloud technologies has triggered a deluge of data. More than 90 percent of the world's data has been generated over the last 2 years. With IDC predicting that the number of connected things in APEJ is set to increase exponentially from 3.1 billion to 8.6 billion by 2020, the volume of data and the opportunities this presents are expected to grow exponentially. This connectivity between all things or IoT is often seen as a buzzword, and will continue to remain so for many unless organizations are able to act on the information collected.

Specific verticals, such as sales and marketing, will definitely stand to benefit from leveraging the data collected from the Internet of Things  to make predictions, effectively set targets and tailor their go-to-market messaging to understand their target audience better. Organizations need to embrace technology that helps them connect data from IoT, digital content and customer information, give context to that data and make it actionable - all in real time. By collecting such data, businesses would be better able to connect to their customers in real-time, with a personal and proactive service based on their registered preferences.  

Intelligence-Enabled Workflows

While enterprises are provided with even more raw materials to sell smarter, IDC found that companies are still struggling to extract the right data and deliver the data driven insights to help them appeal to today's customers. Although there is much discussion on the need for emotional intelligence in the workplace to navigate the corporate jungle, more discussion needs to be around relationship intelligence.  

 

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