The Chief Digital Officer’s goal is to achieve brand consistency across their eCommerce sites and digital touchpoints to enhance the customer experience. But all too often, it focuses on product and sales, an inside-out approach, to build customer-led solutions. This direction omits market-driven brand perspectives. Companies need to also focus on the outside-in insights, allowing the consumer and market trends to optimize brand impact. A value realization framework is essential to change the perspective.
Value Realization Benefits
The Commerce Value Realization Framework provides an outside-in maturity assessment of the digital landscape, aligned with KPI benchmarking. Recommendations from the assessment give enterprises the ability to accelerate their digital transition. Companies can move from managing several uncoordinated innovation projects to one coherent and connected strategic innovation solution. This cohesive direction enables companies to maximize business process efficiency by combining people, data and technology with the framework. The benefits can include:
- Enhanced seamless customer experience
- A boost in conversions and improved conversion tracking
- Increased product sales
- Improved customer retention
- Faster time to market for new features
How the framework and assessment improve the digital process
The framework is strategically developed by integrating data, design and technology to deliver an end-to-end innovation led roadmap. The Value Realization Framework performs an optimization assessment across capabilities like functional strategy, design strategy, data insight strategy and Martech advice. It identifies gaps and opportunities for business growth, areas to improve customer and stakeholder experiences across touchpoints, the potential to drive business outcomes leveraging data–driven marketing and enables the right technological fit for business transformation.
In addition, the framework evaluates maturity assessments across omnichannel services, hyper-personalization and products. The evaluation spans from the customer experience to the omnichannel strategy landscape to the digital commerce perspective. The hyper-personalization assessment identifies the value differentiator and develops a structured roadmap. Product evaluations identify the right product fit for the business landscape per futuristic modern capabilities of marketing and eCommerce platforms.
Our teams have delivered value realization advisories to clients across multiple commerce services at scale. Read about our business value transformations here:
Accelerating Business Value Part 1
Accelerating Business Value Part 2
For more information about Wipro’s Value Realization framework, contact email@example.com.