June. 11, 2019 posted by Foehn
Over the past ten years companies of all sizes have come to realise that customer experience (CX) is the single most important factor in attracting new customers, building customer loyalty and creating advocacy. No longer can companies rely on product, quality or price. Exceptional and consistent CX is key to driving bottom line growth.
Anecdotally, we can all cite day-to-day examples, but recent findings from Genesys, in their Consumer Insights Survey, underline the stark reality of CX as a strategic force and the role played by the contact centre. From an extensive sample of consumers, the most remarkable discovery is that 72% bought something based solely on the quality of the customer experience. Going further, 41% were willing to pay as much as 10% more for a better experience. Results like these demonstrate how customer experience is turning marketing on its head, putting the customer in the driving seat and resetting business strategy.
So, what are businesses doing about it? Not enough, if you believe the findings of another survey by Forrester. It appears that ‘customer experience performance is flat for the third year in a row and CX results show a dangerous gap in customers’ sense of emotional engagement and loyalty.’ Forrester identifies that 89% of CX professionals believe the ROI of CX is not well established in their companies and predicts that 20% of brands will give up on strategic CX initiatives this year.
The conflict between these two CX surveys is worrying. Whilst CX is by far the most powerful driver of business growth in the marketing mix, it appears that the successful implementation of CX initiatives and achievement of RoI are not meeting the expectations of many companies. Why so?
Any contact manager will tell you that with fierce competition and dozens of service channels available, companies face the daunting challenge of continuously improving customer experience whilst also expanding their service channels, fine-tuning their contact centre operations and meeting consumer demand for speed, convenience and personalisation.
At Foehn, this is a routine challenge that we meet regularly in the design and deployment of contact centre technology for our clients. However, these factors are all governed by CX strategy, the starting point and foundation stone of every contact centre that dictate the success or failure of the solution that follows. Getting CX strategy right is crucial to a contact centre that delivers RoI and business growth.
That’s why we’ve organised a workshop session: ‘Driving growth through exceptional CX strategy’ on 20th June in Birmingham.