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Sustaining Customer Experience as a Boardroom Agenda for 2023

Pandemic brought Customer Experience Management (CXM) as a serious topic of discussion to the boardrooms and ensured reactive strategy planning. In no time, customer experience management became an important part of digital transformation wave. In this article, we’ll explore the intersections between customer experience management and digital transformation and how enterprises are working towards promoting both for business growth.

Prateek Tokas
Director
StrategINK

Accelerating customer experience management with technology

Enterprise strategists and leaders planned and executed various plans to ensure they ride the wave successfully. Customer experience management project required investment in various forms such as external consulting or an extensible technology platform, appropriate dedicated resource, regular data analysis and continuous monitoring of engagement and more. Post a certain time frame, for any investment leadership enquires about RoI (return on investment). This is when the need for an effective business value matrix emerges, to assess the success story of a project.

A continuous monitoring of matrix and ensuring result oriented corrective actions follows up as next step. This is the time when at times customer need-gap start showing, impacting the performance of CX matrix. This phase either leads to a retune of the strategy or lowering it as priority, based on leaderships business agenda.

Organizations kick off marketing plans by committing ideal claims, however over a period of time not many are able to continue with the delivery of claimed commitments. But want to have performing CX index!

Customer experience management: Commitment vs Challenges

They key component for an effective customer experience management is its consistency, across considered aspects.
List of few such aspects versus the actual delivered form is as below. If you look closely, it becomes clear that while there is a commitment from executive leadership to focus on customer experience management, lack of resources and expertise on ground can lead to skewed results.

Click to enlarge

The above picture clearly illustrates that the opportunities for customer experience management need to be adequately met with collective brainstorming, planning and execution to move from a sales-centric to a customer-centric approach. Here organizations need to view every business decision from a customer experience lens.

Practices for successful customer experience management for 2023

To ensure sustainable and scalable customer experience management, organizations need to adopt a few practices which will help not only promote this as a priority, but also accelerate its importance as a Boardroom priority.

Understand their customers better

Clear understanding of customer’s business will help you evaluate their needs better and assess the best pitch for your offerings.
Be transparent and realistic
False commitment while making a pitch may benefit in short term but not in long run. An honest approach will help in your brand equity as a trusted partner and gain more loyal and advocative customers.

Approachable point of contact

Organizations initially promise to offer a single point of contact but eventually introduce multiple resources for various aspects. Minimum number of contacts or single point of contact helps maintain trust and ease to work among customers.

Customer centric approach

Customers expect themselves to be treated well and valued, rather being considered as pitch dumpsters. Though they are open to value-add sales pitch.

These practices can help translate the commitment towards customer experience management into actionable impact that can facilitate business continuity, higher market penetration and high levels of customer retention, even during uncertainty or times of economic slowdown.

Stay tuned to this space to explore more about how customer experience management can be a sustained boardroom and CXO priority.

Disclaimer: The views expressed in this feature article are of the author. This is not meant to be an advisory to purchase or invest in products, services or solutions of a particular type or, those promoted and sold by a particular company, their legal subsidiary in India or their channel partners. No warranty or any other liability is either expressed or implied.
Reproduction or Copying in part or whole is not permitted unless approved by author.

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