Most would also agree that building and maintaining a good CX system that delivers real results is hard work. In fact, many C-Suite executives will admit that they have not seen significant
return on their CX investment. Forrester reported recently that only 25% of CX professionals say their companies’ CX programmes actually improve customer experience. Avaya recently reported that 81% of organisations have seen their Customer Experience Management (CXM) initiatives fail in the last three years. What’s just as troubling, however, is that many customers will also say that they haven’t seen great improvements in their experiences as a result of all this investment. Anecdotes such as these have to be sobering to those of us managing these kinds of programmes. So why is this the reality? And how can we ensure that the programmes we build are not among the failures?
Years of experience building thousands of CX programmes across numerous industries and global markets give Ipsos a keen sense of why some well intentioned CX programmes fail. One thing is clear – we see success when organisations do a good job of translating their CX vision into a reality. But how do successful companies make that happen? They do it by committing themselves to a disciplined process that involves the four stages shown below. But this isn’t a simple, linear process. It is really a circular process where these stages are ‘buckets’ that need to be filled and managed continuously. If any one of the “buckets” is missing or becomes empty, this leads to the consequence on the right side of the diagram below. For example, if leadership changes or becomes no longer engaged, then a CX Management Programme could lose traction even if the other buckets remain filled. The same applies to the other three elements of the conceptual framework.
Engagement: without it, there's not traction!
- Assess readiness
- Know where you've been and where you're going
- Engage the right people in the right way
Insight: without it, there's confusion!
- Map the customer's journey
- Respect the CX ecosystem
Action: without it, there's frustration!
- Leverage technology
- Action Planning Workshops
- Defined Action Plans
Embedment: without it, there's protraction!
- Align the customer experience with compensation
[EVENT] The Future of Financial Relationships: Customer Connection in a Digital Age
October 3 - This event will examine the dramatic impact of new technology and thinking on how consumers and financial brands interact. We will explore how providers, both emerging and traditional, can build ‘emotional’ engagement with their customers in an environment increasingly dominated by digital interactions.
[TWITTER CHAT] The Changing Affluent Traveler in the US
On September 19, join Ipsos and @GenPop writer/moderator @KateMacArthur for a live twitter chat examining the changing Affluent traveler during which our featured guest, Ipsos’ Michael Baer (@MichaelBaer1 @AffluentIntel), will discuss in detail the six Affluent traveler profiles.