CMO’s Dilemma — How Digital Customer Experience (DCX) can become a competitive advantage?
By Rishu Srivastava, Business Unit Head at Torry Harris Business Solutions
Let’s face it — Today’s consumers are not deprived of options. They no longer like to be advocated to, by sellers. They are well informed, tech savvy and want to stay empowered. These increasing consumer expectations are reflected by a shift in their preferred mode of engagement with the seller, through digital channels whether it be online, over mobile, or through wearables. With this shift, organisations are being challenged to adapt, forcing Chief Marketing Officers (CMOs) to look for competitive advantages outside the traditional business model, to implement newer, more creative strategies for customer retention and loyalty. CMOs are now being tasked with driving the top-line of organisations and not just making the most efficient use of marketing budgets. With this increasing bargaining power of consumers, organisations today are making ‘digital customer experience’ (DCX) their primary competitive advantage. CMOs now have the daunting task of constantly exceeding customer expectations while at the same time having to add more shareholder value by providing quantifiable results.