— October 5, 2018
The year 2020 beckons on the horizon. A pivotal year for organizations as the rapid evolution of a customer-centric world calls for new approaches and new forms of interactions. While one eye will be on succeeding in 2019, forward-thinking leaders will have another eye towards preparing for a new decade in 2020.
What are 5 reasons and key forces forward-thinking leaders will need to gain in-depth buyer insights on for the year 2020?
Increasing Complexity In Decisions
The simplicity of just a few decades ago, at least perceived, in how choices and decisions were made have given way to a myriad of complex interactions. Existing concepts related to understanding customer journeys and interactions will undergo an even more radical transformation in the next two years. Behavioral changes in how organizations operate and how workers interact will reshape decision-making in the year 2020.
From Solution Selling to Insight Selling To Insight Collaboration
Many leaders are struggling with just how to interact and transact with customers and buyers. In the last few years, there have been attempts to redefine selling around the notion of providing insights. Going at lengths to shift from solution selling to insight-based selling. An issue for leaders in this current mode of transition is working with existing solution-selling skills and hope for the best that sales forces can adapt. The term insight selling is a most contradictory one also. It presumes that the insights being offered are what customers desire. Surprisingly, it presumes a one-way sharing of insights. In the year 2020, new skill sets and attributes will be needed to engage in insight collaboration with customers and buyers. Whereby there is an exchange of insights that help to attain specific goals.
The mandate for customer-centricity has been a rallying cry for this entire existing decade. It remains so today with increasing urgency. The urgency brought on by the continued elusiveness in shifting entities as a whole from product-centricity to customer-centricity. With the year 2020 barreling down the road like a runaway train, leader’s fear time is running out. Gaining insights on how to accelerate the transformation to customer-centricity is badly needed.
Transformation To A “Human-Centric” Digital Experience
In the barrage of new terms and pressing issues, one heard as a mantra over and over is digital transformation. Problematic in digital transformation is answering the question of – what end goal is digital transformation working towards? Leaders today know that sitting pat with existing systems is not an option. Yet, transforming to digital capabilities for transformation sake only is not a very good option either. Understanding and predicting the digital experience customers and buyers will embrace and engage with by the year 2020 is a must-have. More importantly, insights are needed towards creating “human-centric” digital experiences for customers and buyers.
New Customer and Buyer Expectations
The above-mentioned point to new expectations on the part of customers and buyers heading into the year 2020. Expectations that will undoubtedly be redefined from those of today. Resulting in far-reaching implications for many organizations. Pressing leaders to attempt to answer two critical questions: What are the new customer expectations to expect in 2020? – and – What will be required to meet new customer expectations by the year 2020? Answers to these questions will depend on in-depth buyer and customer insights.
At this time of year, the crunch to finalize next year’s budget begins to play out. It will take resolve and discipline to do so with the year 2020 in mind. Making the necessary allocations to build in yearlong preparation towards attaining deep understanding, knowledge, and insights.
Without critical buyer and customer insights, the chances for any best-laid plans to succeed in the year 2020 and beyond will be significantly lower than those possessing critical guiding insights.
(Here is an interesting video from Tricia Wong regarding big data and how human insights can be missing. Buyer Insights for the year 2020 will need human-centric insights and thick data indeed.)