CRM Evolution Video: The 5 Digital Transformation Building Blocks
ISM President Barton Goldenberg plots out an effective digital transformation roadmap with 5 key building blocks to drive CX excellence in this clip from his keynote at CRM evolution 2019.
See more clips from CRM evolution in the CRM evolution Conference video portal. Learn more about CRM evolution here.
Watch Barton Goldenberg's complete keynote, Digital Transformation: Driving CX Excellence.
Read the transcript of this clip:
So this is my version of the building blocks. There are many different people who have their own version of the building blocks, but I'd like to share mine with you. There are five of them.
The first one goes back to the observation that businesses live and die by their ability to engage with customers. So customer engagement is one of the building blocks of effective digital transformation, and that is the digital customer journeys. That is the surveying of the customer digitally or non-digitally on a regular and consistent basis. That is understanding where a customer likes to do business, in which channels, and making sure from an omnichannel perspective that we are where we need to be with the right information textually so that we are connecting and engaging with our customer.
Second building block: data and analytics. And I'd like to call that the foundation for a successful data transformation. I can take my data and analytics and I can overlay it on my CRM customer profile, and I get a deep insight into segments and clusters and groups that we should be promoting our services or products. I can take my data analytics filter and put it alongside my website to determine what is being looked at, what is not being looked at, what should be my next best offer, etc. I can take my data analytics engine and use it on the social media site to figure out what are the new forums that I should put up, or how do we change the structure of the questions or the experts that are being invited.
The third building block, in my opinion, is social communities, the listening post of digital transformations. It's simply amazing what we can learn if we listen to our customers. And there's no better way to do that than to actively participate in a public and/or, I prefer, a private community where we are having an actual dialogue directly with the customer, listening and learning along the way.
CRM is another one of the five building blocks, and that is the gem inside digital transformation. Why is it the gem? Because it houses the customer profile, the holistic customer profile. Though, unfortunately, companies still have not quite conquered the value and the importance of the customer profile, that is where we house the data of a customer. That is their online behavior and their offline behavior pulled together through tools like identity resolution. That is the way that we do our segmentation and targeting as we look across our customer profiles. That is the place in the profile where we learn of the new opportunities to better serve or sell and market to a customer. CRM is the gem that houses the customer profile.
Then we move to the emerging technology as the fifth and final building block of an effective digital transformation. It provides new and exciting ways to engage customers and to drive customer experience excellence. There are many great emerging technologies. I happen to have my eye on a few that I think are very important. The whole area of AI and particularly its ability on the sales side to look at predictive lead scoring, to do sales forecasting, there's a whole bunch of ways that AI is finding its way into sales, marketing, and customer service.
I have my eye on identity resolution. Just out of a show of hands please, I would like to know how many of you are either familiar with the concept of identity resolution or have it employed in your companies? Could you just raise your hands? This is great. I'm glad to see this. We have 10 or so hands.
This is the ability to look at not Bart as an offline individual that makes purchases and I have my transactional history, but to look at Bart as his offline behavior and Bart's online behavior and without breaking data privacy rules, as I move around the web, I'm leaving cookies and digital IDs and when I authenticate on the web, by buying something or giving my email or whatever, I can then like a domino go backwards and look at what is Bart's digital behavior? I can link that to my offline behavior, and I have a much better picture is who is Bart. I can't directly deal with Bart online from that, but I can cluster Bart in groups of 25 and market effectively to Bart. So that's another technology, identity resolution, that I have my eye on.
I have my eye on augmented reality. I really love augmented reality. I'm very big in Rotary, and in Rotary we do a lot of polio eradication efforts around the world, and we use augmented reality as a vehicle to bring fellow Rotarians, 1.2 million of us around the world, through a set of goggles and understand what it means to put those two drops in the mouths of the children. And the same thing carries forward to businesses. The ability to take your customer to the vineyards, so they can see how you make your wine. Or to bring them onto the factory floor to show them how you make your particular molded product. And so I'm very keen on augmented reality as a technology.
I've got a couple more that I think are important. One is personalized interactive video. I think that this is very exciting. And contact centers are really exploiting this, and I encourage it where a customer can come in and look at a particular issue based on the customer profile and knowledge of that customer, we can personalize the video and interactive, so they can get what they want and move along down the path of the interactive video. So there are many many exciting technologies that form a part of it as well.
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