ETCIO | January 18, 2023 | Maximizing Tech Investment Returns
Organizations are focusing on short-term goals to create operational efficiencies quickly and reduce costs and not taking customer experience seriously enough. Rising customer expectations are increasingly placing more demands on every product, service, and experience, which should be one of the driving forces of your digital strategy.
The past few years have witnessed the rise of the digital transformation market, predicted to surpass the trillion-dollar market size by 2025, according to an IDC report (and let’s be honest, it’s only getting started). Nevertheless, companies are still struggling to reach their estimated returns on digital transformation investments.
A Deloitte report points out that 70% of digital transformation efforts fail. The reason? Organizations are focusing on short-term goals to create operational efficiencies quickly and reduce costs and not taking customer experience seriously enough. Rising customer expectations are increasingly placing more demands on every product, service, and experience, which should be one of the driving forces of your digital strategy
The future of digital transformation is experience-driven. Industry leaders realize that creating systems that deliver unmatched always-on customer experiences; can drive incredibly consistent revenue and bring higher returns than high-performing marketing campaigns.