Learning from the digital native companies

Learning from the digital native companies
Companies should consider new business models, says Johannes Vöster, a director of Simon-Kucher & Partners

6 December 2018 - Deborah Wilkes

The consumer healthcare industry can learn from companies such as Amazon, PayPal and Uber, says Johannes Vöster, a director of Simon-Kucher & Partners, who points out that these digital natives work hard to be consumer centric.

Digital native companies are successful because they are consumer centric and that helps them grow, says Vöster in the latest edition of the OTCToolbox Innovations magazine NEW IDEAS BETTER WAYS (click here to download).

If companies want to achieve a consumer centric approach in the digital world, says Vöster, they need to create the right attitude internally, create fans and grow customer value.

Creating the right attitude internally, continues Vöster, requires companies to embed a mindset of “thinking customer not product”. This might require a big change such as a different organisational set up, he says, but companies can also take smaller steps such as introducing signs encouraging employees to become more customer focused.

Vöster says companies should also think about sharing customer networks. “The value in a digital world comes from bringing people and products closer together,” he observes.

Creating fans

When it comes to creating fans, Vöster stresses the importance of building trust, honouring loyalty and creating a customised experience. He notes that digital native companies see a negative customer experience as an opportunity to increase satisfaction by resolving the issue.

Vöster also highlights the importance of offering a broader range of products. “Think platform instead of product,” he advises.

Furthermore, he urges companies to “reward loyalty with something that money can’t buy” and use “data in a clever way to create more customised experiences in the digital world”.

Moving on to growing customer value, Vöster says companies should invest in engagement and use digital opportunities to “get in better contact with customers and make more relevant offers”.

He also encourages companies to consider new business models including subscription-based models.

The full-length version of this article can be read in Edition 16 of the OTCToolbox Innovations magazine NEW IDEAS BETTER WAYS. Click here to download.

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