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Customer Experience: The New Driver of Consumer Brand Innovation

Publisher IDC
Published May 02, 2022
Length 5 Pages
SKU # IDC17155831

Description

Customer Experience: The New Driver of Consumer Brand Innovation

This IDC Market Perspective examines trends in the consumer products and services market. Leading consumer brands are radically reinventing their business models using digital technologies to capture, analyze, and respond to changes in the consumer landscape, whether on a macro, micro, segment, or individual consumer level. The fabled "segment of one" has the potential to become reality at last. Innovation at the customer experience level is key to the execution of this strategy, as articulated by the leaders of 16 global brands quoted in this paper. "Consumer brands have always been organizationally obsessed with marketing execution, and this is being replaced by a digital-first approach to customer obsession. This more direct brand-to-consumer connection moves away from product consumption to an experiential relationship approach that is designed to deliver advocacy, partnership, fandom, and lifetime customer value. Customer-focused innovation leveraging digital technologies are critical to the success of this strategy," said Gerry Brown, IDC's European CX Research Director.

Please Note: Extended description available upon request.

Table of Contents

5 Pages
Executive Snapshot
New Market Developments and Dynamics
Creating Deeper and More Meaningful Customer Centricity and Empathy
Building Customer Insights and Operational Agility
Reinventing Product Experiences and Value Propositions to Meet New Customer Expectations
Using Digital Technology to drive CX Innovation
Smart Personalization
Advice for the Technology Suppliers
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Related Research
Synopsis

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