Transforming the approach

The world of retail business is undergoing a massive transformation which is reinventing the business model. Now, organizations are readily adopting technologies however, to gain the most from technology and innovation, different units within the organization must stay collaborated and connected in order to ensure seamless functioning and enriched customer experience. All the units of business must be linked with each other to create a satisfactory end result. Rather than focusing on the end product and trying to gain customer feedback on it, the approach is slowly turning towards gaining customer confidence from the very beginning. This is possible through the involvement of customers and their proactive contribution.

Increasing access to data

Previously customers had little understanding of the entire process of manufacturing of the product since the focus was only on the potential buyers and the target to increase the visibility of the business. With the change in the business model, customers are now a part of product details and any improvisation related to it. Since customers have access to data more frequently than before hence, organizations are considering customer feedback as the base for product modification. This approach plays a crucial role in enhancing customer satisfaction and success. For example, in telematics data exchange takes place in abundance so that the insurance companies can provide usage-based insurance. In fact, due to telematics, capturing and exchange of data in real-time has become seamless. Thus, this data accumulated through digitalization helps to gather important information and facilitate the same to take constructive business decisions.

Creating a new experience for customers

The data availability also contributes to altering the manufacturing trends. It helps to customize products, and, in this regard, big data analytics plays an important role in exchanging information between customers and manufacturers. Such an exchange of information between customers and manufacturers has opened a new horizon of opportunity. For example, many furniture companies at present let their customers design the furniture to heighten customer satisfaction.

Reducing the scope for competition

This collaborative approach also enlarges the scope of doing business together rather than inducing a competitive framework. Such collaboration leads to faster service due to the merging of skillsets. Again, workplace collaboration ensures access to additional information on consumers that increases personalization. Also, being able to work upon customer feedback closes the gap between customer demand and the end product delivered.

Consumer preferences are leading to interdependence between manufacturers and third-party suppliers. Also, many organizations have started to adopt new processes and technologies to lower the boundaries that existed before. Thus, digital technology helps to reduce boundaries and integrate the entire process. Hence organizations can realign their business with new strategies to create better customer satisfaction.

Conclusion

A successful collaboration is possible only when an enterprise is open to cross-departmental and cross-functional communication. Hence, it is essential to create a culture in which ideas can be freely exchanged and feedback can be considered positively. As we all would agree that a satisfied customer is critical to the success of any business. A happy customer is a live human advertisement of a brand and its product. With the use of more technologies and new applications, customers can experience a unified and seamless process of getting a customized product. Also, the quality of service and customer support adds to the improvement of customer satisfaction by ensuring collaboration through the organization.

- Kathakali Basu
Content Writer
Infoholic Research