A Systems Approach to Value Creation

The market research is clear: By the end of 2020, customer experience will become the key brand differentiator overtaking price and product, while 62% of companies will invest in innovations to meet the changing needs of customers (Walker). Additionally, 89% of companies today believe customer experience is their primary basis for competition (Gartner).

To stay relevant, businesses must adapt to changing and expanding expectations. In recent years, but especially in light of the current pandemic and resultant changes to all aspects of daily life — it’s become increasingly evident that customer experience is no longer simply about product quality, affordability, or convenience, but has also become about education, transparency, customer identity, care for the planet, and much more. Brand engagement now begins far before consideration and extends long after purchase.

In 2020, the end product or service you sell is no longer all that customers expect from you.

In order to succeed in this new normal, a systems-level approach offers the most significant and relevant opportunities for innovation and growth. In this definition, innovation is about meeting customer expectations beyond the traditional customer journey. Opportunities to create value can be uncovered in your supply chain, the communities where you operate, the industry in which you operate, the way you structure or operationalize your business, and even within the stories you tell.

We have much opportunity to explore.

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