A differentiated customer experience is the top strategic business priority among worldwide companies to improve customer satisfaction and business resiliency. Manufacturers must ensure that they have a differential value over other competitive alternatives.
In a recent InfoBrief, sponsored by Liferay, IDC estimates that in 2022 worldwide IT investments will reach 459 billion dollars, with an annual growth rate of 5.2%. The study/InfoBrief recommends that manufacturers put customers at the core of their business by developing a customer-centricity strategy.
IDC Research emphasises the need to create mature ecosystems with close relationships between customers, partners and employees. Moreover, artificial intelligence (AI) is expected to play a vital role in obtaining an in-depth understanding of the client. These elements are considered essential to building a customer-first business.
Ignacio Cobisa, Senior Research Analyst at IDC Research Spain, explains that “manufacturers need to build connected ecosystems around brands to provide customers with frictionless, targeted, and personalized journeys using artificial intelligence (AI) to improve the experience across the customer journey”.
Manufacturers are looking for new ways to engage with their clients and once again Technology plays a leading role. By 2022, due to COVID-19, 70% of consumer-facing manufacturers will leverage new direct-to-consumer channels, producing up to 15% more profits.
On the other hand, IDC Research Spain predicts that by 2023, manufacturers will reduce on-site personnel by 30%, utilising machine vision and AR/VR to scale offsite expertise to onsite, delivering engineering and maintenance support from anywhere.
In conclusion, Liferay´s study considers digital platforms as the centerpiece of any digital strategy. They provide the architecture that drives and accelerates every digital initiative while obtaining maximum value from internal and external data sources.
IDC Research Spain estimates that by 2022, 75% of G2000 manufacturers will have established digital platforms to unify product and manufacturing process data.
To view the full IDC Infobrief, The Relevance of Customer Centricity in Manufacturing, from June 2021, please visit: liferay.com/IDC-InfoBrief