Maximize the Potential of Your Customer Experience Investments

Maximize the Potential of Your Customer Experience Investments

Customer Experience (CX) is critical to every organization’s success. It impacts the ability to generate revenue, reduce costs, mobilize employees and foster customer loyalty. It has quickly overtaken price and product as a key brand differentiator and evidence suggests that CX will continue to offer crucial competitive advantages for organizations that get it right.

But what does “getting it right” look like and require? Superior CX today is holistic, personalized, adaptive and directly tied to business outcomes. It will effortlessly connect brand and customer goals across touchpoints. It will anticipate customer needs and meet them seamlessly in moments that matter. It will elicit and nurture emotional connections among brands, employees, prospects and customers. And it will directly drive measurable business outcomes.

While most organizations recognize this is the future and are already heavily investing in CX, many fail to acknowledge that quality CX measurement is a prerequisite to achieving this vision. Without it, organizations are limiting their opportunity to impact business performance and customer value through CX.

Even among organizations that have begun to tackle CX measurement, most CX measurement programs do not lay the foundation needed to take full advantage of all the data that exists today to compete in the realm of CX tomorrow. Instead, CX measurement programs are typically characterized as narrowly focused, fragmented and cumbersome. For example, many approaches over-index on 1 or 2 metrics, like Net Promotor Score (NPS) or Customer Satisfaction (CSAT). While these metrics can tell you how customers feel about your brand, they do not provide granular insight into specific aspects of your CX. In turn, it can be very difficult to action on these types of metrics to drive meaningful improvements. Fragmentation is also a challenge for many CX measurement programs. With different metrics being owned and evaluated in siloes across organizations, it can be challenging to bring data together to achieve a holistic view of needs and opportunities across the full customer journey.

For these reasons and more, establishing a successful CX measurement approach can be confounding. With many competing priorities and disparate data sets, articulating clear and measurable goals and identifying the appropriate data to measure those goals across every customer touchpoint is no small feat.

Taken from: https://www.ogilvy.com/ideas/maximize-potential-your-customer-experience-investments

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