Test & Learn
How can we develop an annual strategy when market incidents of significant influence occur not in years, quarters and months but in weeks, minutes and seconds?
The structure of major customer touch-points like social media and customer service is changing. With hundreds of millions of new smartphone users in the past two years and billions more expected to be connected in the next decade, companies have designed an always on strategy to adapt this trend as they are expected to respond customer queries immediately. All customer touch points need to be designed to gratify target customer’s preferences maximising a holistic guest experience.
Modern measure-test-and-learn designs are gradually replacing long planning cycles that cannot adapt on the reaction speeds of our time. Nothing is given and everything might be a success. A small scale implementation phase can provide valuable information on what works and what does not work on each case. Just think of how much more confident you would feel on your decisions if you had that kind of input.
Since every procedure is monitored, the data flow can be analysed in shorter timeframes and automated alerts can also be created to avoid dangerous fluctuations. Specific events can be triggering specific decisions to keep the organization on track with the aims. Yes it involves metrics, statistics, calculations and lots of thinking but this is the way to lead a company to survive on the next decade.