Fixing the fundamentals: Understanding new business models and opportunities in the wake of Covid-19

Study: From prioritizing products to prioritizing customers and outcomes

The past year has been a time of reckoning for businesses. In the wake of unprecedented turbulence, companies across the world have accelerated transformation strategies and developed new business models. But as enterprises look to the future, they must evolve further to meet new customer demands. Business models focused on products are no longer fit for the digital economy. Instead, organizations need to shift to selling outcomes and services.

A global study of more than 1,700 business executives and 12,500 consumers explores the critical inflection points that impact business objectives and the ‘moments of service’ that are frequently overlooked—stifling business growth.

  • The ‘2020 factor’, globally, 90% of respondents are changing their customer experience processes to retain customers
  • 37% only act when urgent action is required and only 14% proactively plan and implement changes in the short and long term
  • Only 18% have recently worked on assuring a frictionless customer experience
 

File Information: Executive Summary,   pdf   4.4 MB

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