Digital customer experience is more important than ever before. To compete in today’s complex economic environment, you need the ability to adapt, transform, and rapidly launch new, compelling digital capabilities before your competitors.
According to Salesforce’s State of the Connected Customer report, 88% of customers claim the experience a company provides is as important as its product and services.
If that’s not enough motivation, this Forrester research shows that customer experience (CX) leaders grow revenue faster than CX laggards, cut costs, reduce risk, and can charge more for their products.
Basically, CX is critical. Your teams’ ability to deliver compelling differentiators and value for customers—consistently, at pace—will be crucial to your organisation’s success.
You Build It You Run It is the secret weapon that unlocks enormous business potential to give you the competitive advantage. Why?
Here’s what CEOs and CTOs need to know:
1. Delays in speed-to-market for digital services are costing you enormous amounts in prospective revenue.
“Speed is the ultimate weapon in business. All else being equal, the fastest company in any market will win.” – Dave Girouard, Upstart Cofounder and former President of Google’s billion-dollar cloud apps business, Google Enterprise Apps.
You Build It You Run It can play a significant role in reducing time-to-market when scaling digital delivery. And reducing your ‘concept to cash’ timeline is proven to drive significant business growth.
A recent Forrester TEI (Total Economic Impact™) study revealed that reducing time-to-market consistently across multiple delivery teams helped customers realise a 123% return on investment.
Building paved roads, adopting the You Build It You Run It operating model and using other techniques to reduce the time from ideation to deployment was the greatest driver of business benefit.
In the study, using data aggregated from four organisations we’ve worked with, over $41,000,000 of net present value was realised by improving time-to-market.
The You Build It You Run It operating model drastically reduces time to market for new strategic digital initiatives. Then, scales that capability across many teams.
One of the most critical things to do is understand your current time to market and quantify how much revenue you’re losing in opportunity cost and cost of delay. Cost of delay is an indicative calculation used to measure and understand the benefits you stand to lose by delaying a decision. It can relate to the delay of a migration, a feature update, or a production deployment.
Too many organisations have limited ability to deliver innovative digital services frequently, at pace. You may be hampered by slow, complicated processes to move ideas to deployment. Or perhaps you’ve invested in technology that is costly and cumbersome to change.
Whatever the reasons, decreased speed to market gives your competitors the advantage.
You only need to ask yourself: how long will you leave millions of dollars of prospective revenue on the table? How long will you let the competition reach your customers with new products, services and offers before you?
2. Markets are oversaturated and hyper-competitive: innovating frequently is the best way to establish valuable differentiation.
“Creativity is thinking up new things. Innovation is doing new things.” – Theodore Levitt, economist and professor at Harvard Business School.
Working with enterprise organisations, I notice far too many businesses struggle to offer meaningful differentiation in their digital channels.
Complex, inflexible deployment and approvals processes make it impossible to deliver new market offerings or strategic differentiators at pace.
And, as we’ve already noted in point 1:
If you’re not continuously innovating to offer new streams of value for prospective customers, your competitors are.
Choosing commercial off-the-shelf software is often seen as a strategy to launch new features quickly. But you’re only going to access and leverage the same features as your competitors.
You need to build and run digital services in a way that allows flexibility. In a way that meets the needs of evolving strategies or customer needs.
You Build It You Run It empowers teams to deliver far more features—and more business value—faster and at higher quality. We’ve supported global organisations to move from 10 deployments per year to more than 4,000, without a correlating increase in production incidents.
Are you delivering enough value, frequently enough, to stand out in a hyper-competitive market?
3. Poor, unreliable service is poor customer service: You Build It You Run It can reduce incidents, improve availability, and enhance profit protection.
When it comes to digital CX, exceptional service is the baseline expectation. Latency is simply not an option.
In 2006, Amazon software engineer found that Greg Linden found that every 100 milliseconds in service latency cost them 1% in sales. In the same year, Google VP Marissa Mayer found that a half-second delay in generating search results caused a 20% drop in traffic.
In 2018, Google shared that as page load time increases on mobile devices:
- From 1 second to 3 seconds, the probability of a customer leaving the site without any meaningful action (also called ‘bounce rate’) increases 32%.
- From 1 second to 5 seconds, the probability of bounce increases 90%.
- From 1 second to 6 seconds, the probability of bounce increases 106%.
- From 1 second to 10 seconds, the probability of bounce increases 123%.
In other words, every second your site or digital service is unavailable, the likelihood your customers will defer to a competitor increases exponentially.
You Build It You Run It can drastically improve service availability and reduce time to resolve incidents by:
- Incentivising teams to architect for adaptability, building contingencies so that vital customer service functions are still available in the event of an incident.
- Encouraging teams to build proactive measures into services to prioritise availability because they own every aspect of the service, from feature development to operations.
- And many more: learn how You Build It You Run It provides crucial protections against unplanned downtime.
There you have it. You Build It You Run It supports enterprise teams and organisations to unlock enormous value, based on:
- Empowering you to deliver new services to customers faster than ever before.
- Ensuring you can meaningfully and valuably differentiate your organisation in the minds of customers.
- Enhancing service reliability and protecting against costly downtime.
If you’re ready to embrace high performance software teams that deliver consistent and significant business value, let’s arrange a conversation.