Over the course of just a few years, the ways in which we consume content have changed dramatically. In order to compete in this new landscape and to adapt to the technological change that underpins it, media studios and other content producers should consider providing relatively open access to their proprietary content. This necessitates a cultural change across the industry. Cable television cancellation, or “cord cutting,” has increased significantly since 2010, and with the pandemic accelerating the trend, there are now more than 30 million cord-cutter U.S. households. The American digital content subscriber now watches streaming content across an average of more than three paid services. For several years, more video content has been uploaded to streaming services every 30 days than the major U.S. television networks have created in 30 years. With an abundance of content readily available across a growing number of platforms, each accessible from a plethora of different devices, media providers should invest in making it easier for consumers to find the video content they want to watch. If a viewer can’t access and stream something with minimal effort, they’ll likely move on to one of the countless alternatives readily at their disposal. Think about voice-based assistants and search services. When prompted to find a piece of content, these services sift through a multitude of third-party libraries, where access is permitted, and remove friction from the user experience. It’s important for media companies to evolve from siloed, closed-off content libraries to participation in digital ecosystems, where a host of partnership opportunities can precipitate …
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Did you know that 86% of customers are willing to pay more for a great customer experience? Many companies have started implementing customer transformation processes to meet the ever-changing needs of their digital consumers. But what does customer transformation entail, and how can your business benefit from it? In this article, we’ll be lifting the lid on customer loyalty. Read on to discover five secrets about customer transformation from Chris Hood, a digital strategist, and tech guru. 1. What is Customer Transformation? Customer transformation is a term used to describe the process that a company undergoes when it shifts its focus from acquiring new customers to retaining and growing its existing customer base. Overall, customer transformation has three goals: Delivering value to new and current customers Adapting to changing consumer expectations Using these processes to attract new customers The core aim is to create long-term relationships with customers, not just sell them a product or service. Companies must first understand what their customers want and need to achieve this. And then, they need to align their business goals with these desires. Additionally, they must provide an exceptional customer experience at every touchpoint and continuously measure and improve upon it. Customer transformation can be a complex and lengthy process. But those who are successful are rewarded with increased loyalty, brand advocacy, and profitability. 2. What Are the Benefits of Customer Transformation? There are numerous benefits that businesses can experience from undergoing customer transformation. Some of these benefits include: Improved Customer Satisfaction 67% of users say …
In this growing technological world, over 2.14 billion people worldwide shop online. This number is expected to grow even larger as years go by. If there is any time to start a transformation strategy to become digitally savvy, it is now! Developing customer relationships is difficult in the modern day. You can’t exactly physically chat with an online client. Luckily, there is a perfect technique to help your business maintain a steady influx of customers regardless. It is called the customer transformation strategy. If you’re a business owner, executive, or even simply an employee who is looking for ways to bump up your customer relations, look no further. Keep reading to know all the tips for gaining and keeping new customers. What Is the Customer Transformation Strategy? Customer transformation is a customer-centric process that allows a business to tweak its products or services to further accommodate the continuously changing customer expectations. According to Chris Hood, customer transformation is a mindset shift. You have to understand your customers to serve them. The main goal of CT is to deliver value to old and new customers, accommodate changing demand, and use these techniques to attract customers. A few examples of customer transformation are having multi-channel communications with your customer or using new data such as customer insights. If you’re looking to know the fundamentals of customer transformation, take a look at Chris Hood’s top tips. You’ll be keeping not only the old customers but the new ones as well with these great techniques. Define Your Customer Is your audience younger? Do they …
Google’s Area 120 incubator shares 5 lessons on sustaining innovation at scale CIOs often ask Google Cloud: How do you maintain an entrepreneurial spirit and continue to drive innovation at scale? For us, one of the answers has long been our famous “20% time.” For those unfamiliar, this is where employees use 20% of their work time on business-related assignments that might add value to the company. It has led to many successful projects, including Gmail and Google News. As the company scaled, we’ve continued to lean into the concept of 20% time to allow employees to flex their entrepreneurial muscles and innovate within Google, with all the resources we can bring to bear. One example is Area 120, our in-house incubator where Googlers work on 20% projects, 100% of the time. Area 120 was built to provide a purpose-built home for bottom-up innovation at Google. Its job is to take an idea from “zero to one” — proving out that there is a viable Google product opportunity. It funds projects that have impact by bringing learnings, people, and products back into the relevant Google product areas to scale. Twice a year, any Googler can pitch a potential project idea to Area 120 partners. The organization evaluates applications by team and how well the project could fit within key product areas at Google. Projects that enter the program are led with expertise, technological and financial resources. All Area 120 projects are reviewed regularly and successful projects eventually transition out across Google. Examples …
The path to the best customer experience begins with a bang, like a cherry on top of a cupcake. As a stat to demonstrate this, 86% of consumers are inclined to pay more for a product or service, if there is a great customer experience. But what is the cherry on top of a cupcake telling consumers? It’s telling them that their experience at this company is the best they’ve had. It is, quite literally, the finest customer experience they will ever have. How do you develop a blueprint for the best customer experience? Where can you find examples? How do you cultivate a culture of great customer transformation? By 2022, global spending on CX is estimated to reach $640 billion. These are all questions you’re sure to have, especially if you care for your customers. With his certain expertise and adept advice, Chris Hood will hand you the cherry to top off your blooming customer service. Continue reading for all of the tips and tricks to customer transformation and acquisition. Top Tips for Creating the Best Customer Experience As the head of Business Innovation and Strategy at Google, Chris Hood has abundant experience in what makes the ideal customer service. With these four tips, learn the essentials in gaining and keeping a dedicated consumer. 1. The Power of the Customer Transformation Life is ever-changing. To expect something to never change is to expect the impossible. In terms of customer experience, this is where the term customer transformation is coined. Customer …
Original article posted at: Business System Guide The Application Programming Interface or API is what has enabled the connected web we work and live with today. It empowers businesses to be innovative and more collaborative, faster. The only problem is with great integrations comes great responsibility. By APIs allowing for technical interactions across organizations and industries, it’s also broadening the attack surface of your company. Exponentially. In fact, API attacks are up 681% in the last year. And Gartner had accurately predicted that by 2022, API abuses have become the most frequent attack vector resulting in data breaches for enterprise applications. So how do you get the benefits of APIs without the downsides? We reference five API security experts to offer you five API security tips that you can’t miss. The Complexity of API Security As ProgrammableWeb’s David Berlind put it, API security is more complicated than you think. And for at least the last decade of APIs driving the move to mobile, SaaS, integrated workflows, the Internet of Things, cryptocurrencies, and more, APIs have been ripe for the attack. Because, in the end, APIs are a facilitator of data. Back in 2014, Berlind accurately predicted: “Imagine all that data that’s being collected in these hacks, and the culture of publishing data on the internet, sooner or later, entire profiles of people are going to be available online.” He continued, “Your name, your personal address, your phone number, your date of birth.” All this is happening at scale. In our homes, our cars, our hospitals, and our governments. …
Businesses have more access to data today than ever before. Cloud computing, the Internet of Things, and Internet 4.0 are making amazing things possible in today’s business landscape. But, most experts feel that what’s been accomplished thus far is only a fraction of our potential for innovation. As a result, there’s been a growing movement to democratize innovation via business ecosystems. Companies with business ecosystems are in a unique position. They can leverage those ecosystems to innovate at a faster pace than their competition. Today, we’re going to discuss how these businesses can harness their true innovation potential through democratization. We’ll take a deep dive into business ecosystems, as well. Our hope is that, by the time you’re done reading this article, you’ll have a better understanding of how you can move your team out onto the leading edge of your industry. But, there’s a lot of information to cover, so let’s jump in. What Are Business Ecosystems? The term ecosystem tends to get thrown around a lot. Everybody has their own definition for what it means, exactly. The definition we’re probably most familiar with is from our elementary and middle school science classes. There, an ecosystem describes an environment where all of the members survive, and thrive, off of each other. An example would be the ocean. Within our oceans, millions of species are dependent on each other to live. Each organism has its role and plays a key part in the life cycle of the ocean at large. …
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