Traditional business models designed for more predictable environments are now obsolete, as power shifts to the digitally connected customer, revealed analyst Ovum at its Industry Congress in London

To avoid extinction, Congress speaker and Ovum principal analyst, Jeremy Cox, suggests business leaders need to instil a deeper and broader enterprise-wide perspective of the customer, bringing innovation and creativity back in-house.

At the event attended by over 500 CIOs and business leaders, the global analyst firm presents new research* that spells the end for tactical CRM and stresses the need to further develop thinking around customer experience management, which is struggling to offer sufficient differentiation. Cox touts a customer-adaptive enterprise (CAE) approach, which provides a highly acute peripheral vision, and is driven by a desire and strategic intent to create and deliver value and be persistently relevant to its customers.

“Today’s environment presents major opportunities for enterprises that have the vision to raise their sights and their game to become customer-adaptive,” says Jeremy Cox, principal analyst at Ovum. “What may have seemed fanciful or beyond capabilities just a few years ago can now be enabled by harnessing and working with the “grain” of judiciously applied disruptive and innovative technologies, rather than being their victim.”

According to Ovum, the means to achieve this level of cross-organizational collaboration and orchestration lie with a CEO intent on this path. However, this is more than choosing the right technology, there are certain key principles and organizational attributes that need to be in place.

“A customer-adaptive enterprise is achieved not only by delivering a superior customer experience, but also through agile decision making and continuous innovation born of deep insight into the customer’s context. These advanced organizations have the ability to actively seek out and sense the changes in the forces impacting customers’ behaviours, wants, and needs, and have the cross-enterprise execution capabilities to act and adapt at speed,” says Cox.

Ovum has created a “Transformational CRM” group on LinkedIn for members who wish to share best practices around CRM/CEM /CAE and find out more on how to transform their current approach to become customer-adaptive. For those unable to attend this year’s Ovum Industry Congress Jeremy Cox, principal analyst, will be available to answer questions and provide more insight into this research, within this group.

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