2016 will prove to be the most consequential year for companies adapting to digitally savvy, empowered customers, according to research from Forrester which identified the top ten critical success factors that will determine if companies thrive or fail in the so-called 'new age of the customer'.
Empowered customers are changing the market fundamentals for virtually every industry, forcing companies to reinvent their strategy and operations, and companies can either make the hard changes to dramatically improve their chances to win in the market or preserve old models and defer transforming their operations at the risk of failure, according to Cliff Condon, chief research and product officer at Forrester, whose top ten critical success factors for the coming year are as follows:
"New market dynamics are in play for 2016 and the gap between customer-obsessed leaders and laggards will widen. The decisions companies make, and how fast they act, will determine if they thrive or fail in the age of the customer," concluded Condon.
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