What other issues do we need to address to grow our business?

Consumers in today's world are more "fickle" than ever before, and instant gratification is the norm in their lives. Whether it is an e-commerce shopping platform, a banking app that can notify you in real time if you receive a fraudulent text message, or a video streaming service that takes you to binge-watch TV series, no matter which industry, ensuring that users have the best digital experience is not only a key competitive advantage, but also a prerequisite for its continued success.

The reality is that digital performance affects the health of a business, including its brand reputation, stock market, customer and even employee loyalty. The impact of digital performance is beyond imagination. Amazon estimates that every one-second delay in its web page loading speed will result in a loss of $1.6 billion in annual sales, and when its trading platform lags behind its competitors by 1 millisecond, a typical agent will lose $4 million in revenue.

Try asking yourself a question: When was the last time you experienced an excellent user experience? In fact, we often face poor digital experiences. Because users cannot tolerate poor digital experiences, more and more companies will invest more money in developing new and innovative digital services to acquire new customers and retain existing customers. But how can companies get the most out of these investments? Is your company on the right track?

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Determine your digital experience management strategy

The key to building effective digital experiences is to understand how workers manage digital experiences throughout the entire lifecycle of applications, from development to delivery to consumption. A key step in helping enterprises achieve this goal is to consider deploying a digital experience management strategy.

Research firm EMA defines digital experience management as the analysis and optimization of application services provided to end users and consumers in support of business outcomes, service performance and application design.

DEM solutions provide an actionable framework to help enterprises better manage the life cycle of digital applications or services. However, launching a DEM strategy that can have a significant impact on business outcomes is not easy. In order to help enterprises complete the digital experience journey, the following three core components need to be considered to comprehensively improve the management experience:

1. Consider performance factors when designing applications: First of all, good application design is the foundation for success. As cloud-first enterprises emerge in all industries, applications must have the ability to innovate and provide value to the market. Engineering teams must not only pursue speed, but also ensure that there are appropriate diagnostic and debugging tools to help development and operations teams quickly and easily discover and eliminate vulnerabilities as early as possible in the development cycle. This is important because the cost of fixing vulnerabilities during the design process is 15 times lower than the cost of fixing vulnerabilities in testing, and 100 times lower than the cost of resolving issues in production.

2. Ensure infrastructure meets standards: Reliability is critical for digital applications and services. It is very important that the infrastructure that enterprises are building and the third-party cloud services can provide top-level security, performance, and availability. Therefore, any successful DEM strategy must include an integrated cloud monitoring and management solution.

3. Understand and measure business impact: An optimized digital experience means different things to different businesses. For most businesses, digital value creation comes in the form of new market opportunities. It builds customer loyalty, simplifies business operations, and improves employee productivity. DEM, as a practice or a set of technology solutions, does not directly create this business value. Instead, it enables, measures, improves, and protects business value, so it requires the entire business to work together to achieve this goal. This means that IT and business resources need to be reorganized or at least refocused to achieve the expected and measurable digital experience.

Digital experience is so important that there can be no surprises on the digital journey of an enterprise. The entire enterprise needs to understand and embrace “measurable digital experience management”, which plays a role in optimizing application planning, design, delivery and consumption.

Digital performance can make or break a business, from its brand reputation to its stock price and customer loyalty. Therefore, the digital path does not need to be risky and difficult. The key for the entire business is to achieve consensus across engineering, IT and business teams, clearly understand the impact of digital experience on the business, and whether optimization translates into highly engaged and satisfying customer experiences throughout the lifecycle.