Forrester’s 2017 Asia Pacific Predictions

Forrester recently presented our Asia Pacific 2017 Predictions at events across Singapore, Sydney, and Beijing, followed by a webinar earlier this week for customers across the region. We shared our view that businesses today are under attack, but not by their competitors. They are under attack from their customers. Three years ago, Forrester identified a major shift in the market, ushering in the age of the customer. Power has shifted away from companies and towards digitally savvy, technology-empowered customers who now decide winners and losers.

 

Our Empowered Customer Segmentation shows that consumers in Asia Pacific are evolving — and becoming more empowered — along five key dimensions. These five key shifts explain changing consumption trends and lead to a sense of customer empowerment: Consumers are increasingly willing to experiment, reliant on technology, inclined to integrate digital and physical experiences, able to handle large volumes of information, and determined to create the best experiences for themselves.

 

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These five core changes apply to all customers, but some are more aggressively empowered than others. At one end of the spectrum are Progressive Pioneers, who rapidly evolve and feel most empowered; at the other end we find Reserved Resisters, who are more wary of change and innovation. While the segments are globally consistent and apply across markets, we see significant differences when comparing countries. Our analysis of five countries in Asia Pacific reveals that metropolitan online adults in India and China lead the way, while South Korea, Australia, and Japan are a more diverse outlook. Highly empowered customers will switch companies to find new and exciting experiences. In this environment, being customer-obsessed and constantly innovating are the only ways to remain competitive.

 
Customer obsession requires harnessing every employee, every customer data point, and every policy in the organization. Eventually, companies will have to assess and address six key operational levers — technology, structure, culture, talent, metrics, and processes — derived from the four principles of customer obsession: customer-led, insights-driven, fast, and connected. Done well, customer obsession promises to help your organization win, serve, and retain customers with exceptional and differentiated customer experiences.

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Forrester advises that organizations take a hard look at their structure, talent, culture, processes, technology, and business metrics to understand how deep the changes need to be to compete and win in the age of the customer. This is a market where increasing customer expectations and declining tolerance for even mediocre experiences force the hand of leaders, mainstream companies, and laggards alike.

 

For more details on what you can do to stay ahead of your competitors and customers, watch the on-demand webinar, or read more here.

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