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Article CX Strategy

Innovation's Core Success Drivers

Like other key business strategies, innovation is an area that has to be mastered and executed extremely well — otherwise its impact will fall short of creating competitive and business advantage. 

Targeting Customer Segments

Innovation is not a goal unto itself.  It’s purpose is to create a closer connection to customer by meeting their precise needs more closely.  But which customers?  That question lies at the heart of ROI from innovation.  Innovation which has specific customer profiles in mind delivers a level of business impact that is otherwise left untapped. 

Precisely innovating across key dimensions

For example a loyalty system can be broken down into key areas including user interface, core functionality, customization and connectivity to 3rd party systems.  Rather than treating the innovation of the loyalty system as a single endeavor, tackling each area separately when innovating can allow for prioritization and focus that delivers far greater results. 

Consensus About Who Your Customer Is

You’d think this would be a given but when you put a meeting together, you’ll be shocked at how team members perceptions of the customer vary. Truly innovative teams are able to create tremendous collaborative power around a shared customer perception.  That alignment doesn’t come without effort — particularly by having strong voice of the customer program that delivers objective data to build customer profiles for all team members to align around.
Oct 13, 2015  

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Article CX Strategy

It's impossible for companies to focus on the 'easy' market segments (ie. non millenials) and get comfortable with a less than competitive product or service offering. 

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