The biggest customer experience opportunity, pandemic, or not, is to understand and embrace the skills that support the blending of digital and emotional intelligence. To optimize their digital strategy brands must embrace the fact that they will need to master three critical skills: personal data expertise, AI expertise, and emotional intelligence expertise. Everything else, including product innovation, supply chain and channel management optimization, is dependent on that foundation. The pandemic has nearly paralyzed many luxury goods brands, as well as some luxury services brands. It has exposed the vulnerability of a primarily transactional, Industrial Age business model. Although no brand is immune, having cultivated deep client relationships pre-pandemic has provided resilience for a few brands. As some top executives and business development associates have told the Luxury Institute, “You know you have a deep, trusting client relationship when the client calls you first, to check how you are holding up during the pandemic, and then soon calls you back to tell you what they need to buy next.”
In this podcast, Luxury Institute CEO, Milton Pedraza shares insights from the July 2020 white paper for each skill that will help brands execute their digital business strategy successfully to build and deepen client relationships.