FEB - MAR 2022CIOAPPLICATIONSEUROPE.COM9leaders who see value in this different way of thinking to start putting those insights into practice. We have not invented new processes or models and have not coined new terms, there are plenty of those out there already. We refer to established and time-tested knowledge from Psychology, Marketing, Market Research, Product Development and so on. One practical matter we tackle in the book is personalization. We argue that without the foundation of meaning, personalization is an empty, overused business term that just sounds good. Businesses understand, at a gut level, that offering "personalized products and services" sounds better to consumers than offering "generic products and services". They are also taking cues from luxury goods and services as well as luxury hospitality where "white glove" and "high touch" service is the norm and is expected by wealthy consumers. However, when put into practice and in an attempt to scale that approach to millions of consumers, personalization has been nothing more than algorithm-powered suggestions based on averaging millions of online transactions. There is nothing personalized or personal about that approach in the way customers experience it or how it feels to them. Another hot business topic we cover is customer experience design. Experience is a feeling. If you believe that statement, you will recognize that businesses cannot design customer experiences. They cannot design feelings. They can try to trigger positive feelings. This, of course, is dependent on knowing your customers' personalities and situations through feedback loops. At the end of the day, the purpose of this book is not to examine in detail the changes in business practices as a result of COVID-19. Rather, we believe that the uncertainty brought about by ever-changing economic conditions can be mitigated if we focus our attention less on technology and more on the human side of business, namely on customers and employees as people. There are probably many more unexpected and dramatic changes in our environment in store for us in the future. However, a solid understanding of human nature will serve for us as a reliable anchor in the stormy seas of change. Alex GenovWe believe that the uncertainty brought about by ever-changing economic conditions can be mitigated if we focus our attention less on technology and more on the human side of business
< Page 8 | Page 10 >