Companies focusing on customer experience as a key differentiator are able to stand apart in a sea of sameness. Lately, I’ve been intrigued by the insights that come from this focus on the “cumulative experiences across multiple touchpoints and in multiple channels over time,” as customer experience is described in an article from Harvard Business Review.
L.L. Bean and Nordstrom have built their reputations and differentiated their companies in a crowded marketplace with a customer-first approach which has served them well for more than 100 years. Technology marketers are using this same approach to distinguish themselves from competitors. By doing so, they can escape simple toe-to-toe product functionality comparisons that rarely inform the customer’s decision process.
With this heightened focus on the customer experience comes storehouses of data, but collecting terabytes of data is only the first chapter. The data needs to tell its story, and the insights gained from this data are guiding next-generation marketers to better serve their existing customers, find new markets and shape product development.