#20: transformation ahead of the new year

Happy Friday! We're bringing you our roundup of industry news summarised in an exclusive LinkedIn newsletter. For more detail on any news featured here, check out 'This week in CX' on the?Customer Experience Magazine (CXM)?website .

This week's news features will look at KIA's new business transformation, research into the importance of the shopping experience, HBR's newest report and more!

KIA are continuing their business transformation

??Automobile manufacturer, Kia Europe , have announced the latest in their business transformation - partnering with international marketing agency Incubeta .

They will dive deeper into their collected data – ultimately leading to a higher level of engagement across its campaigns. Also primarily focusing on developing an Audience Analysis Model in Big Query and defining a best-in-class foundation for Google Cloud projects. This will provide KIA with the opportunity to enhance its audience understanding, with actionable insights that will help create better customer and user experiences.

This follows the latest from KIA’s transformation last year, where they changed their logo, and unveiled a new?slogan – ‘Movement that inspires’. The automobile manufacturer have a clear new focus on inspiration, confidence and the potential it can offer its customers.

Recent research has also poured out that the new logo has caused some confusion. Some consumers are finding the new logo tricky to read and don't seem to be seeing the word 'KIA'. Google Searches for “KN car” increased over 30,000 per month since their rebrand launched! What do you think of the new logo? Is the minimalist logo trend going too far?

The shopping experience is more important than the deals!

??? 思科 's recent global study of over 1000 consumers explored how applications are being used throughout the online shopping process during seasonal shopping moments. It also evaluated the significance of their role today.?

Key findings include:

• 94% of the UK believe that it is important to have regular updates on the status of your online purchases. This is due to ongoing supply chain issues increasing the stress around receiving gifts on time.
• 58% of the UK will feel anxious and angry if the applications and digital services that are being used to find great deals this holiday season fail to perform.
• 82% of the UK state that it doesn’t matter how good the deals are that retailers are offering, there is still no excuse for poor online shopping experiences

What are people thinking of product-led growth?

?? Harvard Business Review released a new report which reveals that businesses increasingly rely on product-led success. This is as a capital efficient, durable growth strategy to overcome economic uncertainty.?

According to the report, a whopping 93% of survey respondents say product teams should have some responsibility for contributing to an organisation’s revenue growth. 81% strongly agree that a strong digital product experience positively impacts business growth. 76% of respondents’ organisations consider delivering an effective digital product experience an “extremely high” or “high” priority.?

Just 16% strongly agree that their organisation is satisfied with the digital product experience it provides. 40% rate the overall digital product experience they’re delivering as simply “good.”

• Quadient ?has identified three key trends for 2023 that are vital for banks. These should help consumers overcome increasing economic pressures and maintaining excellent customer communication. These include - Stepping up support from reactive to proactive; banks that can segment their customer base will meet their duty of care; and those not helping customers will fall foul of tightening regulation.
• 43% of Europe retailers are concerned about being undercut on price from online competition, Sony Professional Solutions Europe has found. This proportion rises to 50% in Germany, whilst 42% and 36% of UK and French retailers respectively share these concerns.?When it comes to more cost-effective measures, retailers are taking to defend their business through revamping their pricing strategy. Other common areas of investment were a quality end-to end CX (29%), a personalised CX (28%) and staff training (28%).?
• The world’s largest jewellery brand,? Pandora , is embarking on a new digital journey, using RISE with SAP. With SAP, it aims to deliver an omnichannel experience for customers across 100 markets that meets expectations for seamless and personalised services both online and in-store.
• Chattermill have announced that they have raised a?$26 million Series B funding round. This will aid their path to unified customer intelligence, and is led by Beringea. To learn more about Chattermill and how they were founded, check out our?CX Lore podcast episode with Dmitry Isupov .
• Reputation have announced a new alliance?with Rent. – a marketing tech and services platform. With this,?Reputation will power the?RentRep.?sentiment dashboard, enabling clients to monitor and manage their online reputation and social presence from one easy-to-use application.

The CXM articles of the week

Are you caught up on the top articles we published this week? Give them a read if not!

Thanks for tuning into CXM’s weekly roundup of industry news. To find out the new coverages in full and more, remember to?check?this week's post . Check back next Friday for the latest updates of the week!