Humanovate Is The Digital Innovation Prescription to the Covid-19 Business Condition
I wrote an article earlier this year at the beginning of the Covid-19 pandemic entitled “The Past is The Past and We Can’t Go Back – We Must Move Forward.” In that article I noted how customer needs don’t change, but how they purchase will in the new Covid-19-aware normal.
Smart companies in the new normal realize that technology is the business prescription to the Covid-19 business condition. Why? Because crisis drives innovation and technology trumps biology.
Smart companies are realizing they must digitize from end-to-end and not for the sake of corporate IT, but from the customer’s point of view. No longer are websites, information or queries presented to end users as strict selections or drop-downs or confined inputs acceptable to smart customers and employees. New normal companies know that the center of digital innovation is the end user, not the data base. Technologies like artificial intelligence (bots) and machine learning are two great examples of focusing on end user productivity and company efficiency as the same goal. This type of alignment or “humanovate” (company efficiency while empowering, not restricting, end user data access) will be normal in future company technology solutions.
Why? Because customers drive business, not executives. End user experience is critical to a company’s success. Customers (internal and external) won’t tolerate interfaces that are clumsy, illogical, incomplete or delayed. Smart customers and employees will choose to work with modern companies that have already figured out how to put customers first, because the customer is king, not the company.
Those companies that don’t innovate around customer satisfaction are at risk of losing their customers, best employees, and their business.
New normal companies know that digital innovation around end user satisfaction is indeed the technology prescription to the Covid-19 business condition.
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“Nothing happens until a sale is made.” Thomas Watson, Sr., President of IBM from 1914 to 1956, coined this expression. He knew what he was talking about. Selling technology in the first half of the twentieth century, before the moon landing in 1969, was not an easy sale to make. Companies then, like many still today, did not understand the transformational power of technology to reshape industry and company fortunes.
What is a “sale” and how is it made? A sale is made when a buyer and seller agree to exchange values. The customer’s value is revenue, but what is your value to the customer? It’s not your price.
New sales are the lifeblood of every business, but not every business knows that yet. Without predictable new sales year over year, no matter how well intended a company’s mission or goals, the company will suffer with limited growth. New sales breathe life into all other company possibilities.
How to attract new customers year over year is the seminal question every business must solve first if it wants to maximize its value proposition and reach its potential.
Technology companies must monetize their value proposition to make more business. A company’s value proposition is the monetized value of its service or product to the customer - “your value.” If you don’t know the monetized value of your value proposition to your prospect, neither does he.
Sales are the problem, sales are the answer, sales are the point. Monetize your value proposition to make more sales and grow your business at scale.
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