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Today, Helen Yu, CEO of Tigon Advisory Corp joined us on the Engati CX show. She shares her insights on the traction gap and what steps we can do to fill them with AI.
Chief Customer Officer of Showpad and Founder & CEO of Tigon Advisory Corp- Helen Yu is a global customer-success executive who delivers board value by designing innovative approaches to drive growth, solving challenges for businesses.
Through a career spanning early-stage start-ups to Oracle and Adobe, her work has enabled multibillion-dollar revenue growth and record profitability.
She is a top Twitter influencer in AI, Blockchain, HR and was named to the “Top 10 Influencers in Digital Transformation” by IBM, “Top 10 CyberSecurity Influencer” and “Global Top 15 Thought Leader” by Thinkers360.
5 Gaps To Be Filled With AI- A Video With Helen Yu
Gaps to Fill with AI
This section will contain a quick summary of our interview with Helen. But, if you'd like to listen to the entire interview, we've embedded it below the summary.
Can you shed some more light on “The Traction Gap” from Tigon Advisory?
Disconnects occur everywhere. They're essentially the difference between where the company currently is and where they want to be. Simply recognizing these disconnects and gaps could put a company further ahead.
There are 5 traction gaps-
1. Product to Market-fit gap
When a company is moving from an idea to a product and bringing that product to market, early miscalculations often result in products that are mismatched to market demand.
2. Customer Voice Gap
Customers tell you what they want. But, you got to listen to them. You can't just stay in the lab all day, building features that you think are great. You need to go out there and listen to them.
3. Define-Minimum Gap
In order be at least minimum viable, you need to have a product that's marketable. Having great features is not enough. You need to understand how to really market your vision.
4. Process Gap
It's all about the process. Success requires systematized steps. It depends on establishing processes that are repeatable and scalable.
5. Measurement Gap
You need to be able to measure the success of each of your functions. Measurement ensures consistency that will help your company to scale up.
How can startups strike a balance between accelerating growth while creating deeper customer experiences?
Companies cannot choose between growth and customer experiences. Without creating great customer experiences, a company cannot grow.
You need to create a culture of accountability around customer experiences. Start mapping your customer journey. All the way from researching solutions for their problem to choosing your offering as a solution and making the investment. You need to know what they're experiencing through this journey and what drives decisions.
What are the typical barriers that block a business’s path to digital transformation? What would be your ideal advice to overcome those challenges?
There are 3 major gaps.
The first is the Culture Gap.
Culture Eats Strategy for Breakfast
It's usually the hardest thing to change. But, building a culture of collaboration that allows cross functional leaders to work together is definitely an exercise worth investing your time and energy into.
Next, we have the Talent Gap. Either you upscale your workforce or you redefine their roles to make them as nimble as you can.
Then there is a Practice Gap. You need to have practices that support the talent. They can't be too complex. They need to be nimble.
You need to understand where you are at right now. You need to align your strategy and adapt your go-to-market message to the customer need.
What do you think the future has in store for conversational intelligence and bots in general?
Within the next couple of years, Helen expects most major companies to have an officer in charge of customer experiences. And conversational intelligence is definitely going to be one of the things they look into.
It's also going to help employees by taking care of the monotonous tasks. This is going to allow humans to take care of the higher level tasks that involve thinking and creativity.
What role does AI and technology play in an organization’s business transformation cycle?
Business Transformations happen either because the company is looking to disrupt the market or because they have been disrupted.
AI is definitely here to stay. It will enhance our lives as employees, leaders, customers and even investors.
AI will not replace humans, but it will enable us to ask the right questions. This will help us innovate and stay ahead of the customer expectations.
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5 Gaps to Be Filled With AI- A Spotify Podcast with Helen Yu
Hope you've learned a lot about the gaps that can be filled with AI. Engati CX will be back with a new expert in a new episode soon. Stay tuned.
Find Helen Yu
And check out Tigon Advisory Corp to gain even more insights from her and her company.
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Helen says that Customer Experience is vital for any company's growth.