Potential for Digital Customer Experience (DXE) Platforms in APAC
What is Digital Customer Experience?
Price sensitive customers, especially across the APAC region, who have always been keen on valuing their purchases, have their purchase pattern set based on a conclusive yardstick of the experience that they get and not just the product itself. In this modern digital era, the pedestal for getting customer satisfaction has gone to a completely new level, with an overabundance of customer touchpoints, with which end-users can reach out to the product and service providers. APAC has increasingly transformed into a region of flourishing investment potential for organizations across industries. Subsequently, in this competitive digital era, the transformational customer experience strategy of all companies can either catapult them ahead or pull them back from realizing their anticipated goals.
With some of the fastest growing economies in the region, countries such as India (7.5%), Malaysia (7.2%), and China (6.7%) have further ignited the innovative spark and bolstered the digital transformation roadmap for organizations operating in the region with smart city initiatives. The region also has an unrivaled demographic constitution, in terms of diversity and the size of the dormant potential customer base, with rapidly escalating propensity to purchase premium goods and services. Moreover, with the region contributing to almost 60% of the world population, this is the perfect platform to formulate the way organizations respond to the varying customer behavior, in their stride towards getting a significant share of the market in their respective verticals. Additionally, the projections of high population influx into the urban agglomerations over the next decade, in addition to the existing 13 out of 22 global megacities and 7 out of 10 most populous cities, will further increase the requirement for streamlined cross-channel customer communications.
According to a recent release from Microsoft, the APAC’s GDP could take an extra 1% leap annually with a confluence of digital transformation and enhanced customer experience within the manufacturing sector. This presents a lucrative proposition for all stakeholders, including technology vendors, investors, government entities, as well as the manufacturing sector. The growing relevance of AI and automation further enthuses the proposition for the stakeholders for an enthralling technological revelation in the coming years.
So, it is evidently conclusive that the APAC region has a huge potential for digital transformation in providing enhanced customer experience. In fact, it is a necessary alteration that organizations have to make in their digital roadmap, to adapt quickly to the changing customer experience from a diverse potential customer base in the region. However, it is also essential that the high potential sectors for the proliferation of digital customer experience platforms be emphasized within the region to ascertain the criticality of transformational change to take place smoothly.
- Shiladitya Chaterji,