Season 3 Episode 4: Innovation Post-Pandemic
Play • 17 min

Welcome back to our Fourth (4th) Episode of 2021 Drink Like a Lady

In Season 3 of the podcast, we are exploring the growth opportunities post pandemic.  In today's episode, we are tackling the opportunities for innovation. Note that:

  • 80% of consumers will switch to another company after just ONE poor customer experience,
  • 59% of consumers will care more about their customer experience than they did “before COVID times” when deciding which companies to support or buy from.

The companies that innovated well and worth noting are:

Dialogue  

Because it's an e-commerce platform is backed by machine learning, your sales systems are always getting smarter.  Dialogue will create tailored messages for different potential customers based on specific preferences and sales patterns to achieve the best possible outcomes. Its been known to  boost conversion rates by up to 25 percent. 

With the multitude of businesses going online, competition in the e-commerce is fierce. Personalization and customization is key. 

 WalkMe 

This company offers a platform that can help any organization of any size go digital.  WalkMe helps train employees who use software, websites, apps, and other digital solutions. It also trains management on how to use analytics.

Better.com

Better.com is a fintech concern. The company is disrupting the mortgage application process by bringing it to the internet.  With automation, it shortens the weeks of mortgage application waiting time to minutes. 

Its business model is such that instead of charging fees or commission for transactions, the company focuses on interest. The company says it has already extended more than $4 billion to homebuyers in 2019.  The company has already received approval to operate in 44 states across the USA and is set to cover all territories.

Innovating for the next normal

Companies involved in the internet, software, finance, e-commerce, and business intelligence will play a big role in the upcoming economic recovery everyone is hoping to see soon.

BUT IF YOU ARE IN AN ESTABLISHED COMPANY, then there are 3 themes for change:

  1. Create or confirm a case for change (e.g. burning platform for growth)
  2. Talk about innovation in terms of tangible results to help create a better future.
  3. Provide a step-wise approach to getting these results and make the journey credible through anecdotes, past successes and visualizing the story.

In our next Episode of Drink Like A Lady, we'll focus on the GIG ECONOMY.  

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