Fifth Quadrant’s research has showed that companies with mature customer experience (CX) strategies perform nearly 20 percent better than other businesses in a variety of key metrics including employee engagement and revenue generation. Regardless of the increasing evidence of how great customer experience directly impacts the bottom line, we still see a number of businesses failing to strategically prioritise customer experience and impress their target demographic. Organisations that do prioritise CX recognise that improving CX through better products and operational efficiency will drive customer retention and business growth, and alleviate competitive pressures.
Customer experience management is becoming increasingly difficult as customer expectations continue to evolve and customers become more discerning and vocal about products and services, which adds much more complexity to customer experience than ever before. Given below are some of the most pressing challenges faced by customer experience professionals today:
Data and Insights
Probably the biggest challenge in customer experience is understanding what the customer expects from your business so that you can work towards firstly meeting those expectations and then working to exceed them.
To be regarded as a leader in CX, organisations need to ensure the CX strategy is supported by data and insights including routinely collecting customer feedback and data and using this to drive CX improvements; working collaboratively with customers to identify improvements; ensuring employee feedback is being utilised to drive continuous improvement efforts and ensuring the return on investment of your CX efforts are being measured.
Delivering consistency across channels
Customers can interact with your business through up to a total of 22 different interaction channels including voice, mobile apps, social media sites, official websites and email, and it is the responsibility of the customer experience professional to ensure that each experience is seamless across the complex channel environment. Studies have shown that customers do not rate the service of a business based on individual interactions, but look at the cumulative experience they have had across various channels. Implementing consistency in the customer's experience through all channels requires deliberate design of those experiences with back office processes and measures; the configuration of organisational structures to centralise customer contact across all channels and a multi-channel centralised approach to knowledge and quality management.
Breaking down silos to improve customer experience
A genuinely effective enterprise wide CX Strategy requires senior leadership to not only have buy-in, but also to actively drive the strategy and related initiatives. The common barriers to CX efforts include departments acting in silos, a lack of alignment across the organisation and a lack of cross-functional teams. High performing CX organisations are centralising the responsibility for CX to a dedicated team with representation at the C level to drive improvement initiatives and transformation.
For more information about how Fifth Quadrant can enhance your customers' experience contact Stephanie Bauer.
Stephanie leads Fifth Quadrant’s CX Consulting team and has more than 20 years experience in the CX industry having worked with clients throughout Europe, South Africa and Australia to develop CX strategies to transform, improve and optimise customer experience.