Digital Transformation & Customer Experience

Digital Transformation & Customer Experience

An increasing number of customers are expecting more and improved digital services and products. We help organizations adapt to the digital transformation and new technologies.

CASE: How to manage digital transformation within the fields of insurance, pension, auditing, and accounting?

What is radical digitalization?

 Radical digitalization should not be understood as ordinary digitalization in the form of improved utilization of digital media like Facebook. The concept of extensive- or radical digitalization should be understood as digital solutions and technologies that involve automated processes and more effective, cost-reducing and value-adding services. Extensive digitalization is usually catalyzed by technology such as software-robots, AI, and data analytics.

How to predict the changes within sectors

Over the past year, we have been working with businesses within insurance, pension and accounting to map out exactly how, and in what ways, each field will be affected by radical digitalization. Based on interviews with customers, managers from national and international digitalized enterprises, researchers, experts, and the perusal of state-of-the-art international literature and research reports, we have identified a range of focus areas of particular importance to the industries.

Working to stay one jump ahead

The fruits of our extensive analyses are two groundbreaking reports that gather and operationalize insights on the digital transformation of the sectors. The reports are accessible below. Apart from the reports, we are working with companies to make them not only equipped for, but front runners of the digital transformation within their fields. In the process, we focus on the hands-on transition from analogue to digital work processes to ensure that the industries are fully prepared to meet the near automated and data-abundant future.

Five reflections on digitalization:

  • New technologies are implemented due to both client expectations for fast, simple and cost-effective services as well as competitive concerns, i.e. the need to stay ahead in terms of cost-effectiveness, consistency and quality.

  • New technological and agile players emerge in even established industries, and the most resourceful and visionary established players are investing heavily in digital transformation.

  • The shift will affect the entire enterprise both in terms of investments, implementation, and competencies.

  • The hardest part of digitalization is rarely introducing and understanding new technology, but dealing with the derived thorough organizational changes. Businesses are faced with a number of consequences ranging all the way from the product innovation processes, to HR- management, to the overarching top-level strategic considerations.

  • As new technology gradually becomes the industry standard, the real differentiating capabilities become the non-digitizable factors such as culture, values, brand, customer service, organization and leadership. Thus, radical digitalization effectively permeates ALL aspects of businesses.

Read the report on radical digitalization within accounting here: https://pub.publify.dk/files/4715/2170/7069/fsrweb.pdf

Read the report on radical digitalization within insurance and pension here: http://www.forsikringogpension.dk/Documents/FogP%20dokumenter/RadikalDigitaliseringRapport.pdf

Does the brick-and-mortar store have a future?

The brick-and-mortar stores of today are heavily challenged in their dominating position. With the growth of e-commerce, new online players can meet customers’ demands for convenience by offering comparable products at competitive prices. And with online tools such as Google Analytics easily accessible, retailers focusing on e-commerce also have the advantage of knowing their customers thoroughly. Who are they? What is their behaviour at our website and which products are they looking at?

Brick-and-mortar stores on the other hand only have limited insights in their customers and their in-store behaviour. But this can be changed. At Nextwork, we are experts on customer behaviour, creating analytical data setups, that allows retailers to understand their customers’ physical journeys just as well as their online presence.

We do this, by using a big data in-store analytical setup based on video analytics. This means, that we deploy cameras that can track customer movement and behaviour patterns, creating anonymized aggregated data on every part the customer journey.

What is the optimal store layout that expose the right products at the right places? Who of our customers are we not good enough at converting? What products are our customers looking at, but not buying? How is my store performing compared with each other?

These are just some of the questions that Nextwork can help you answer. Based on this we give strategic advice about store layout, customer experience and interaction and what kind of technologies to choose in a future store setup.

Understand new technology and digitalization

New technologies continually penetrate the market and disrupt companies, products and services. In most cases people need to engage and interact with the new technologies. Thus, thinking about the design and the appropriate use situation in a sociomaterial world is more important than ever. Users and customers may benefit from new technologies, but only if they are probably designed and adjusted to the specific needs and context in which people use these products. The same goes for people with specific needs like e.g. people with disabilities, who often may turn out to relevant lead users in the design of or modification of technology.

We have been working with different projects considering the uses cases of new technology and the design of new technology. During the years of Google Glass, the first commonly known smart glass product, we tested, analyzed and did in-depth research on how the product was used in social settings. We identified several interactional issues and provided novel feedback to the developers in Google, San Francisco (Thad Starner). In a different project, we worked with blind people’s navigational challenges. Based on observations and video ethnography, we identified detailed issues during their navigation, and used that knowledge as input to new software technology development on the Google platform Tango. In collaboration with software developers we tested the prototypes and provided novel feedback.

How can we help?   

  • We can help with market research, mapping and identification of new technology developments.
  • We can help with identifying users/customers’ needs and behaviors through observations, video ethnography and interviews as a) inputs to new technology development, b) testing of prototype technologies and c) identifying challenges in the current use of technology products.
  • We provide strategically based inputs and recommendations on concerning understanding new technology.

At what touch points can customers successfully be converted?

Touchpoint marketing means understanding where and how potential customers interact with your brand. Practical examples of these could be your company's homepage, its Facebook site, or a display banner ad located on a newssite. During our work for previous clients, we have found that it is crucial to understand the 'awareness' stage; how customers become interested in a certain brand. Most companies possess reams of data on these first interactions, but rarely capitalize on the insights the data offers to lock customers in. From experience, we know that creating an easy way for customers to connect with your data-infrastructure, and knowing how to treat the resulting data appropriately, can net you a sizeable list of leads, and entice customers into purchasing your product.

We can help you finding your crucial touchpoints, and convert interactions with them into new sources of revenue.