It’s undeniable that the most powerful companies today are data-driven. More and more companies are using data analytics to allow them to make better decisions across the board. One critical area where this is emphasized is customer insights. In an increasingly customer-centric world, the ability to understand the customer is necessary for survival. According to McKinsey, “organizations that leverage customer insights outperform peers by 85 percent in sales growth and more than 25 percent in gross margin.”
Subscription management is one business model where there’s been much success found in creating world-class customer experiences. Take Netflix as an inspirational example. They are focused on the customer experience from sales support to day-to-day engagement with their customers and are synonymous with having mastered if not conquered customer-centricity. In short, they pioneered the industry with their subscription model including introducing the concept of paying for content. Through this, they validated the idea that content is king, and that consumers will pay for it. Netflix continues to grow at staggering rates because they know what customers want when they want it and where to use technology to recommend content based on their viewing habits.
Like Netflix who reported 204 million paid global subscribers at the end of 2020 and Salesforce customer Disney+, who as of the beginning of this year was close behind with 95 million paid global subscribers, as well as the recent launches of Paramount and HBO, all subscription services can realize this model and launch a unique experience for their customers while monetizing their content. How are Netflix and other talked about subscription services set up for success? They’re digitally enabled to scale to the pace of audiences who are continually redefining the way content is consumed. Their digital setup allows them to serve content based on consumer interest. It helps them to define what they will produce in the future, and it further permits advertisers to tailor brands and types of offerings to make.
Customer centricity and digital transformation go hand-in-hand. According to IDC, 85% of enterprise decision-makers say they have a time frame of two years to make significant inroads into digital transformation or they will fall behind their competitors and suffer financially. This sounds daunting yet every company today has the power to be smarter about where they’re going especially if they have the right tools like Salesforce which help the industry reimagine business in the digital age.
Salesforce enables digital transformation. It harmonizes data in one platform allowing for many of the benefits that the industry giants like Disney+ experience. This includes creating one-to-one experiences to putting out content that viewers will like – these are the types of journeys that we need to be taking our customers on.
Silverline, an established Salesforce partner, has the depth of experience and knowledge to guide you to the best paths of success in customer centricity and digital transformation. And, partners like us have likely helped other companies in similar situations. Our clients have told us that they couldn’t have done the journey on their own as well as that we helped them avoid mistakes that they would have undoubtedly made while staying focused on their core business. I’d love to hear more about your experiences in making a digital transformation towards putting your customers first
