target audience: TECH BUYER Publication date: Feb 2024 - Document type: IDC Perspective - Doc Document number: # US51663124
Attaining Experiential Value Parity with Customers Will Forge the Path Forward to Profitable Growth
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Abstract
This IDC Perspective emphasizes the importance of achieving customer value parity for businesses to thrive and grow profitably. It highlights the need for companies to focus on delivering empathetic customer experiences and proving experience value for the customer, powered by data and intelligence. To win future customers, businesses must balance value for the organization and the customer and continually evolve customer and organizational value outcomes. CX leaders can leverage the customer value framework and apply organizational value streams to activate and execute digital customer journeys to track and sustain customer value parity.
"Traditional, 'introverted' organizations — that is, those maximizing only inward-looking metrics such as operational efficiency and revenue growth at the cost of their customer outcomes — will fall behind in meeting the demands of future customer expectations," said Sudhir Rajagopal, research director, Future of Customer Experience, IDC. Using a richer customer value framework, organizations can deliver customer experiences wherein both the organization and the customer see a net gain in value outcomes and position the organization as an empathetic, customer-centric business."