The emerging trends in consumer behavior have been accelerated by world events in 2020. The changes in consumer behavior are here to stay. One of these has been the need for exceptional experiences.
These ask from consumers have made companies change the stance and organize themselves in a different manner. The complexity of the situation results from the fact that the needs of the consumers are changing very rapidly. The otherwise latent needs are coming to the fore as business competes amongst themselves to delight the consumers through newer and richer experiences. The bar off delivering exceptional experiences to the consumer is constantly rising. Further, these experiences which the companies are delivering to consumers should also help the consumers achieve desired outcomes. When the experiences are tightly integrated with the business outcomes, to help the consumer achieve business outcomes, we enter the space of Business Experience( BX)
An important aspect of this change is that experience has now moved beyond the domain of chief marketing officers to the boardrooms of the companies. This is so because business experience is directly linked to the growth of the company.
Business experience thus includes many more elements as compared to CX. Leaders across the corporate world are fast embracing this new strategy of business experience. At Matra, we specialize in integrating Design Thinking, Artificial Intelligence, and Business Model Innovation to drive holistic business experience strategies for our clients.
Author: Ajay Davessar