The survey notes 'safe and secure' was the most important digital experience attributed to consumers, with 72 per cent of respondents ranking it as one of the most important components of a delightful digital experience.
The next most important attributes were 'services that are available anytime on my terms'; (42 per cent), and 'cohesive, integrated, and simple' (42 per cent).
Lessons for the C-suite
Riley says there are valuable learnings on the role played by the executive team in ensuring the organisation provides the best digital experience.
"Often companies almost work on the principle that it is so hard to move, I just won't bother," says Riley. "That is not the consumer of today. They will move for a cheaper bank loan or an interest rate, or a better experience. Anything you could do to improve that loyalty is going to be valuable to you.
"If you can give them a better digital experience, you can lower the churn."
He notes how three retail consumer brands got a negative rating, as they are caught in the dilemma of brick and mortar versus online strategies.
''Hopefully, this gives them an idea how important digital transformation can be. Those who want to shop digitally will go to where the best digital experience is."
He says those who are doing well have the commitment to actually embark on digital.
The brands that did well in the study "were not completely born digital, they are 'reborn digital'," notes Perry Manross, head of global corporate affairs, SAP Australia and New Zealand. "They completely rethink their process in the context of the digital environment."
"The process is across the entire organisation, not one department," says Manross.
"It is not just 'let us whack up a good website', but [consider] what is the whole digital process across all elements of the business? What is it that you are genuinely trying to do? It is also about the top down culture of the company," Manross says.
Riley, meanwhile, says it is incumbent on CIOs to raise the message to the executive that customers will go to competitors who will provide a better digital experience, says Riley.
For a lot of companies, the appointment of a chief digital officer "is a statement of intent, commitment and focus to say, 'We are serious about this and we are going to do it'," says Riley.
The CIO is an enabler to the CDO, adds Manross. "The technology the CIO chooses to deploy or the framework they set up, is often what enables or limits the digital experience that can be provided."
The survey covered eight industries: Banking, government, utilities, telco, media and entertainment, retail (consumer), retail (grocery) and insurance.
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