Adobe & Econsultancy Release New Research: “Technology Companies Lead the Way in Digital Experience Delivery.”
by Jill Steinhour
posted on 05-26-2017
The industry characterized by constant invention, rampant competition, and rapid obsolescence cycles also leads the way in digital adoption. A report recently released by Adobe and Econsultancy reveals that, perhaps fittingly, companies in the technology industry are leaders in both becoming digital first and digital integration. The “2017 Digital Trends in Technology” report is based on a sample of over 900 respondents working in the technology sector who were among more than 14,000 digital professionals taking part in the annual Digital Trends survey.
In this report, we highlight differences between industries, specifically profiling the technology industry. More importantly, we were able to tease out some of the nuances underlying the differences in the technology industry such as the motives, dynamics, and disruptions that are driving behavior. The report offers a wealth of valuable information — not just for practitioners in the technology industry, but for anyone who deals with the technology industry. Following is a summary of some of our key findings.
Companies in the Technology Industry Are Digital Leaders.
Our research revealed that organizations in the technology sector are, in many ways, digital leaders. For example, technology organizations are nearly twice as likely as their peers to classify themselves as digital first (19 percent vs. 10 percent), putting the sector in third place (after gaming, gambling, and media) out of the 15 key sectors we analyzed. This eagerness for digital may, perhaps, be explained by the drastic changes in purchasing behaviors that have driven a shift toward hybrid, agile product offerings, and ‘as-a-service’ models of payment. This has created the need for tech organizations to foster an ongoing, high-touch relationship with their customers, which is more easily accomplished using digital technologies.
Shifting Customer Demands Mean That One Size No Longer Fits All.
The technology sector experiences rapid innovation that translates into relentless competition. As a result, companies place increased emphasis on providing value for their customers, differentiating through customer experiences. The vast majority (81 percent) of technology companies are putting customers at the heart of all their initiatives. Almost one-third (32 percent) of respondents said their highest customer experience (CX) emphases were being placed on value.
Customer journey management is the second-most-important priority for 2017. Ensuring a consistent CX is especially challenging in this industry due to the complex ecosystem of players — partners, resellers, field representatives, and others — that touch or play a role in delivering the customer experience. This challenge is being met internally through hiring skilled staff members to engineer good experiences. Encouragingly, the proportion of companies that have the CX skills they need has increased by 9 percent in the last two years.
New Technologies Will Enable New Levels of Customer Relationships.
Although differentiation is top of mind, differentiation strategies vary greatly even within the technology industry. Again, almost one-third (29 percent) of respondents plan to use product or service innovation to differentiate themselves from competitors over the next year. However, digital-first organizations are 52 percent more likely than the others to see customer experience as a key differentiator, highlighting the inseparability of digital maturity and customer experience delivery.
The Internet of Things (IoT), artificial intelligence (AI), robotics, and augmented and virtual realities have been introduced to the industry over the past couple of years but are yet to see integration into business-as-usual strategies. The technology industry is likely to be the first to see this integration, either through internal-innovation labs, collaborations with other technology providers, or even companies from other sectors. Technology respondents see this opportunity and are three times as likely as their peers in other sectors to regard the IoT as an exciting opportunity to connect with customers. Accordingly, technology respondents are also more likely to acknowledge the future potential of AI and bots.
The full report contains many more insights with much more depth and detail than can be described in a blog post. For a comprehensive discussion on all the technology-industry insights, download the full report today.
Topics: News, Digital Transformation