9 Powerful Reasons You Should Provide a Digital Experience
Since 2003, DocuSign has helped hundreds of thousands of companies and millions of individual customers use electronic signatures and digitize their workflows. The San Francisco-based company remains in the forefront of global developments in its industry as it helps to support the growing adoption of the xDTM standard in digital document management.
DocuSign’s own Digital Transaction Management platform assists clients working in finance, real estate, legal, biomedical, and numerous other fields to enjoy real-time access to their documents in a secure cloud environment. The company, headed by entrepreneur Keith Krach, focuses on the needs of its customers, who today demand the most responsive, efficient, and seamless digital products and services possible.
Here are a few reasons why it’s important to offer customers a digitized experience:
1. Customers want a seamless transaction.
Numerous recent articles in business and technology publications, as well as in the popular press, attest to the accelerating demand on the part of consumers for a seamless digital experience in all their interactions with companies of all types and sizes. When major corporations, like Apple, consistently deliver high-quality service and instant satisfaction, customers build up high expectations for the kinds of experiences they will have with other companies.
2. Digital technology earns repeat business.
Emerging generations of customers grew up surrounded by technology, and they are used to interacting with high-tech applications in their everyday lives. They may balk, for example, at the traditional paper-based processes of verifying their income in order to obtain a bank loan, and they may become impatient when a new device isn’t ready to work the minute they take it out of the box. For these consumers, a company is more likely to earn their repeat business when it can demonstrate that it is wired the way they are.
3. Non-digital companies may not survive.
Many companies struggle to stay ahead of this societal shift in the way consumers expect to do business. When a company lags behind in taking full advantage of the digital tools available for streamlining its operations, a new start-up may see a void and quickly fill it.
4. Customers expect a modern sales experience.
Sales is one significant field in which many companies operating under traditional assumptions are being left behind. Today’s educated consumers no longer rely on a company’s sales representative as the sole source of information about its products and services. By the time a prospective new car buyer walks into a dealer’s showroom, he or she may have already done extensive Internet research on each model’s features, add-ons, prices, and financing options. Such a consumer will expect a salesperson to be equally savvy and be able to offer a fast and easy-to-understand loan approval and signing process.
5. Consumers demand efficient processes.
A company like DocuSign can provide solutions that range from simple and convenient facilitation of legally binding e-signatures to full-service digital transaction management capabilities that can integrate thoroughly with most legacy information technology systems. DocuSign’s digital Transaction Rooms, for example, bring all parties to a transaction together in an online environment that offers each of them simultaneous and instant access to every iteration of their common documents. Once each party fills out a particular form, the same information never needs to be collected again. Even after a transaction has concluded, all relevant documents remain secure and accessible in the cloud to those with the agreed-upon credentials.
6. Consumers want 24/7 accessibility.
Customer expectations for anytime access, intuitive interfaces, and individually focused services are creating pressures on the marketplace. Moreover, these pressures are driving companies in more and more industries toward a complete transition into a digital environment. When companies are forward-thinking enough to get digitization right, the superior customer experience they deliver often results in reduced costs of production, fewer risks, and enhanced operability.
7. Digital experiences gain customers’ trust.
Some experts advise companies to concentrate on analyzing and enhancing their customers’ digital experiences — from start to finish — with their brands. Customer experience encompasses the entire set of beliefs a consumer has about what is likely to happen when he or she interacts with a company. In contrast, the term “customer service” now often refers to the processes in place to fix any problems generated by sub-par customer experiences. Therefore, a smart company will develop digital experiences that bolster customers’ trust in their brand.
8. Today’s best practices include digitization.
In order to improve customers’ experiences and create greater loyalty in the current hyper-accelerated digital marketplace, a company should reexamine some of its most tried-and-true assumptions about its best business practices. It will certainly need to move forward with digitizing its operations, procedures, and document-sharing and archiving systems in order to eliminate unnecessary waste and duplication of employee effort. Companies transitioning into the digital world will also need to re-design their data models and staff training programs in order to align them with the needs, lifestyles, and buying patterns of contemporary consumers.
9. Digitization saves money.
A number of experts have weighed in on the benefits digitization brings to improving the performance of information-rich, back-of-house procedures. Perhaps most significantly, costs can decrease by as much as 90 percent. Additionally, transactions that may once have taken weeks can be completed in minutes. Companies can also use the data collected from consumer interactions in order to better understand a brand’s performance, operational costs, and reach.