Bringing Sexy — er, Synergy — Back
Industry is enjoying a “synergy renaissance” of sorts. Far more than the clichéd term that corporate raiders used in the 80’s to salve the sting of their hostile takeovers, “synergy” in its purest sense describes component parts working together to create a greater whole.
And that’s exactly what industry needs today.
After decades of siloed operations and business practices, company officers everywhere have looked up to notice that their fractured organizations and antiquated systems are less and less prepared to meet customers’ evolving expectations.
And they’re investing heavily to make amends.
Specifically, we’re seeing two big areas of concentration: First, multi-channel strategies are being supplanted by “Omnichannel Strategies.” And, second, mere customer relationship management is giving way to “Single Customer Views.” In both cases, it’s all about data management, integrated services, and real-time transparency to take advantage of, yup, synergies.
Omnichannel is extremely important because delivering seamless, real-world and digital customer experience is essential, and any customer experience is only as satisfying as its clunkiest touchpoint. If a customer wants to shop in your brick-and-mortar store, price compare on his cellphone, order on his landline, and schedule delivery to his lake house from his laptop, then well, by God, he shouldn’t have to jump through hoops to do so. You, the seller, had better be up to the logistical and informational challenge to meet his expectations, or else he’ll buy from someone who is.
Meanwhile, the Single Customer View is coming to the fore because it provides organizations with a holistic view of each customer. And not as if that customer were just a member of a particular demographic, mind you, but rather as if they were a living, breathing person with needs unique to them. Any SCV worth its salt integrates each customer’s online and offline activities into a single, complete record. It makes that record available to anyone in the organization who needs it, so they can offer services that are more timely and relevant. And it does all of this in a way that is automatable, reliable, scalable, and repeatable.
In short, we’re watching as industries dedicate themselves to putting the customer at the center of their operational orbits to create experiences that are more satisfying then ever before — and it sure looks like synergy to us.
Welcome to the renaissance.