Accelerating growth with data driven customer experience
It has never been more important to know where friction is hurting your business. Friction is an invisible force that impacts much of our day-to-day existence. Often, it operates unseen. But it’s there, hidden in the details, making everyday interactions more difficult, more time-consuming and more frustrating than they need to be. In today’s "one size fits none" world, our consumer research reveals companies are losing nearly $1 trillion in revenues to customer switching because they’re not consistently relevant to customers in the moment. Today it takes more than the best technology, data or capabilities. It demands an intensely customer centric mindset—one that inspires profoundly different behaviors.
Accenture Research shows that creating frictionless experiences are central to consumer-facing businesses and reducing friction has become a core driver of competitive differentiation.
Taking nothing for granted, CXO’s are continuously thinking about how to attract and retain customers by offering consistently relevant, personalized and frictionless experiences.
How Accenture finds and removes friction for clients
Accenture’s data-driven strategy framework helps companies identify friction and prioritize impactful interventions while building a solid evidence-based case for change:
A sophisticated understanding of customer lifetime value (CLV) is central to the analysis. CLV provides the baseline value that customers currently ascribe to a company’s products, services and experiences. Without that baseline, it’s impossible to prioritize the sources of friction customers are experiencing or quantify the incremental value that removing friction will add.
Ready to get started?
Here are three questions you can ask to kick-start a data-driven journey to truly frictionless and effortless experiences today: