From Transactions to Experiences: BABC member Teague Shares Survival Skills for Digital Disruption
In the early to mid-2000s, the retail landscape was a constellation of fallen stars, lagging brands that stalled, consolidated, or fizzled out. From the moment in 1994, when Jeff Bezos founded Amazon in his garage, business changed forever.
With algorithms making smarter product suggestions, strategic flexibility, and devotion to user experience, Amazon became the gold standard—the new standard—for the retail experience. Unlike brick and mortar organizations, Amazon could innovate, iterate, and to an unprecedented extent, prioritize customers. The retail industry, as we knew it, was torn apart. Ecommerce became retail’s main storefront.
Today, no industry is immune to disruption. As a pandemic suspends the global economy, a new kind of disruption threatens brands. It is more critical than ever for companies to leverage digital to power the personal, touchless, and safe experiences that customers expect today and will expect tomorrow.
Taking a cue from the digital disruptor playbook. Here are five rules—think of them as survival skills—to follow when you need to accelerate your customer experience in the face of disruption.