Todd Pruzan, HBR
Hi, I’m Todd Pruzan. I’m here with Steve Tzikakis, CEO of Sitecore, to talk about why experience is redefining the future of business. Steve, thank you so much for being with us today.
Steve Tzikakis, Sitecore
Thank you, Todd. It’s great to be here.
Todd Pruzan, HBR
Steve, when you say experience is redefining the future of business, what do you mean by that?
Steve Tzikakis, Sitecore
Companies around the globe are really focusing on the digital content-to-commerce journey right now. However, we live in an omnichannel world, and how people experience all those channels defines their impression of a brand. This is why at Sitecore we believe that customer experience is the most critical driver of brand equity today. We already know that customers are attracted by brands that speak to their values. There’s an evident shift in the market.
Customers are looking to build relationships and buy experiences rather than just buy products. Experiences are all about moments in time that surprise and delight. And companies need to think about how they can create delightful, seamless experiences across all of their touchpoints, from physical to digital to virtual. All potential customers can search, view, and buy anything, anywhere, anytime with one click, tap, or scan or engage with virtual and augmented reality to enhance the in-store experience.
This is why brands need to think about the intersections between digital and real life and ensure seamless transitions in a total customer experience. This is becoming ever more critical for business success, not least when organizations are increasingly competing on a whole new scale for a share of customer spend in a diversified, global marketplace.
Todd Pruzan, HBR
What’s the most important thing brands need to consider?
Steve Tzikakis, Sitecore
In my view, brands need to remember the importance of keeping their customer front and center. Digital interactions are still about creating authentic human connections – which could mean being helpful; anticipating needs by ‘listening’ to digital cues; or understanding a customer’s personal situation- built around their browsing history and using AI pattern-matching capabilities to create those moments of surprise.
Or at a time that consumers don’t want to [leave] their cookies behind, a great way to create a connection with the customer is for them to see themselves in your brand story. If you want to add value to an experience, it’s about making the customer feel part of the bigger brand story, whether that’s about sustainability, origins, futures, or much more.
The most critical point is that the customer experience must have the same look and feel wherever the customer is interacting with the brand. Having authentic connections also means being transparent about how their data is being used. And that it is shared in their own terms. This means building trust and transparency, which will eventually mean that customers will be more likely to proactively share their data with the brand.
Todd Pruzan, HBR
Which brands do you think are doing this well right now?
Steve Tzikakis, Sitecore
Many of our own customers have worked really hard to transform their customers’ experience during the last two years. Companies including Aston Martin, Emirates Airlines, and L’Oreal have all won awards for [their] digital experience initiatives at our own symposium event last October.
The brands that I have most valued this year are the ones that have websites that I can navigate with ease; that add a personal note to a delivery and use packaging that makes me smile; that prompt me that I may need to repurchase something; that make it easy for me to buy things – and speak to a human if I need to; that don’t force me down a rabbit hole when I know exactly what I want. It’s authenticity, it’s being human, and it’s understanding real life – even in a digital age.
Simplification is a form of sophistication. And this will play an increasingly pivotal role in determining how their customers perceive their brands.
Todd Pruzan, HBR
If you wanted the Harvard Business Review audience to take away three things from our conversation today, what would they be?
Steve Tzikakis, Sitecore
That’s always an interesting question. I think what’s top of mind for me is as follows:
Number one, brands must realize that digital commerce is becoming more nuanced. Knowing their customers will be vital as they build out seamless experiences across all customer touchpoints and working out what those touchpoints should be.
Secondly, omnichannel is fused with digital. The brands that offer advanced omnichannel services are likely to win market share from those that don’t.
Thirdly, transparency and authenticity are critical. When customers trust and respect the experience, they will build a long-term relationship with the consumer. Those companies that get this right will be the best placed to succeed in the future.
Todd Pruzan, HBR
Steve, this has been a great discussion — thank you so much for joining us today.
Steve Tzikakis, Sitecore
Thank you, Todd. Thank you for having me here.
To learn more about Sitecore, please click here.