Customer Experience in High Tech

Modern Finance
The Age of Hyper-Personalisation

Technology companies cite customer engagement as one of their key drivers. Which steps can tech companies take to transform their Customer Experience capabilities?

 

Customer Experience in High Tech

The increasing pace of commoditization is one of the greatest pressures facing high tech companies. Customer engagement in this industry is one of the key drivers behind innovation investment, ahead of new products and services. Advanced data analytics is combining with the Internet of Things to help high tech businesses better understand their customers, while Artificial Intelligence (AI) is helping to automate service delivery and enhance the customer experience further.

Rather than selling one-off products, technology companies are looking to building continuous relationships with customers based on subscriptions and repeat experiences. Hardware companies need to catch up with companies like Amazon, Google and Facebook which have already built their businesses on digital service platforms and are now looking to diversify. Traditional high-tech players should therefore embrace the As-a-Service model, which involves ensuring a superior customer experience through every element of the service and the business. Businesses that embrace this first will stand to enjoy a strong competitive advantage.

How well prepared are Tech companies to meet the hyper-personalization agenda?

With the economic potential of individualization so clear, there’s an opportunity for tech companies to push ahead with hyper-personalized services to enable rapid growth. Oracle’s view is that it’s now essential that tech companies utilize digital technologies including cloud-based applications, platforms and infrastructure, mobile devices and data analytics to create the hyper-personalized customer experiences people demand.

Tech companies need to ensure they invest in digital technologies

Oracle recommends tech companies focus on flexibility and agility, building a customer experience based on insights from customer, product and operational data. To meet this need, the cloud is a must as it simplifies IT, reduces costs and drives innovation. By becoming a cloud leader, tech companies will find they have the scalability and agility needed to deliver transformational hyper-personalized customer experiences.


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