The latest report from Capgemini Consulting and the MIT Initiative on the Digital Economy (IDE) outlines the emergence of a new approach to customer experience management defined by the concept of collaborative exchanges. Based on nearly two years of research with leading customer-centric organizations and a quantified analysis of customer exchanges, the report charts the shift from organization-led customer interactions to a digital economy where the locus of control of the customer experience rests neither in the hands of the firm nor the customer, but rather is negotiated in collaborative exchanges.
Customers are now able to engage at various levels along a firm’s value chain, from R&D and product development through content creation and logistics to services. Concurrently, companies are able to gather information at each point to uncover and infer insights. The combination of strategic decisions around the level of participation and flow of information in a win-win way results in successful collaborative exchange.