In today’s fast-paced digital era, where technology and consumer expectations evolve at an unprecedented rate, companies face the daunting task of standing out in an increasingly crowded market. The quest for sustainable growth has never been more challenging, as traditional strategies often fall short in the face of relentless digital disruption.
This new reality demands innovative approaches that go beyond conventional tactics to truly captivate and retain customers. However, the reality of the on-the-ground conditions of the digital economy, across all categories, is that success has never had a smaller margin for error. In fact, in the history of our data, competition has never been fiercer in B2B.
-
+58%
increasae in brands considered for the average B2B purchase -
32%
consumers who will abondon a brand they ''loved'' after a bad experience -
80%
of companies believe they deliver ''super experiences'' -
8%
of the customers agree
The right tactics
Oftentimes, it’s the operating model and organizational structures themselves that inhibit experience-led business transformation. When we ask business executives, almost 50 % say their biggest challenge is not their tech, nor their strategy, or their human capital – but their operating modeli.
At the same time, we know from McKinsey’s research study on ‘The Business Value of Design’ that companies that consistently follow design thinking practices generate roughly 32 % more revenue and 56 % higher returns for shareholders than those that do not.ii So, what to do?
One powerful strategy that has emerged in this context is experience-led growth. This approach hinges on the fundamental principle that delivering exceptional customer experiences can serve as a significant driver of business success. At Merkle, we believe that being experience-led is a game of inches – and that a lot of small initiatives will end up determining which brands do and don’t thrive in a new era of AI-driven digital transformation.
Experience-led growth is not just a fleeting trend, but a strategic imperative that requires a comprehensive and integrated approach to combine strategic vision, organizational agility, data-driven insights, cutting-edge technology, and creative problem-solving. Managing each of the following five components is crucial to craft memorable customer experiences that drive long-term profitability.
- Strategic direction
- Adaptive organization
- Data democratization
- Advanced technology
- Creative innovation culture
A roadmap with 5 chapters
By examining these five principles, this whitepaper aims to provide a comprehensive guide for businesses seeking to transform their operations and achieve growth through outstanding customer experiences. Whether you're a startup looking to disrupt your industry or an established enterprise aiming to stay ahead of the curve, the insights contained within these pages will equip you with the knowledge and strategies needed to succeed. And, hopefully, the motivation to take action.
As we navigate through each principle, we'll provide real-world examples, best practices, and actionable recommendations to help you implement these concepts in your own organization. By the end, you'll have a clear roadmap for driving experience-led transformation and growth. Before we embark on this journey to unlock the full potential of customer experience in the digital era, allow us to set the scene for all 5 principles:
Getting from square 1 to mastering all 5 takes effort and dedication. But the journey is different for every brand and business.
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