How leading firms leverage technology, ecosystems and their own culture to enhance and deepen customer relationships

Becoming an iconic business is a balancing act. It requires an ongoing commitment to managing customer experience as much as managing the brand. How do companies do it? In a recent briefing paper, Getting to Iconic, MIT Technology Review surveyed over 550 senior executives from some of the world’s top companies to identify what they all have in common.

The report calls out a number of findings. For example, high-performing firms use best-in-class solutions to gain an intimate understanding of customer needs: 87% report leading-edge adoption of customer analytics, and 77% have deployed advanced technologies for “voice of the customer” survey analytics. In contrast, only a third of all respondents have invested in any survey analytics, and nearly a fifth of low performers have no intention of doing so.

The distinctions are clear. Explore this infographic, the first of four based on the study findings, and see how iconic companies set themselves apart in how they engage with customers.

The Big Takeaways

1 – If you’re willing to adopt new CX technologies, you’re on the road to becoming an iconic company.

Omnichannel stands out as a differentiator between iconic firms and all others. It lets you carry each customer’s context seamlessly from one channel to another and personalize the interactions across each.

2 – Focus on the needs of your customers when you choose these technologies.

You’ll be able to respond more effectively to their needs—on the channels they prefer. Iconic companies use insight from analytics to optimize customer relationships through personalization and that results in improved loyalty and retention.

3 – By keeping your partners aligned with customer expectations, you’re creating a seamless experience for them.

Iconic companies are more than twice as likely as all firms to have ecosystem partners adhere to their customer experience standards, and nearly three times more likely to have their customer experience systems integrated with partners.

Successful Companies Focus on Customers over Efficiency

Download the MIT Technology Review paper and take a deep dive into learning how iconic companies build customer relationships.