Keys To The Governance Of An Effective CX Program In This New World
As businesses are reopening slowly and finding some resemblance of “normalcy” creeping back into their customer’s lives, now organizations are faced with a golden opportunity to find and define success in a post-COVID-19 world.
Now we all know that CX (Customer Experience) programs were and still are the best means for acquiring new customers, retain the existing ones, cross-sell within the retained customer base, and lower cost to serve, which are a few among the other benefits that brands will badly need as they reestablish business in the present time.
Therefore, irrespective of companies that are new to the CX world or even for those who would like to brush up their brands, it is a good idea to (re)visit the building blocks of an effective and successful CX governance that can redefine your business.
This is because as one of the most popular CRM for small and medium business and startups we can vouch that a well-managed and a perfectly governed CX program can not only help brands to achieve stellar transformational success, but it also aids in building an enhanced bottom line, and improve the experience of their customers.
Hence, with further ado, let us take a deep-dive and look into these five key elements that are important to effective CX governance in any industry:
Key Element #1
Trying to deliver a better experience for the customers and thereby achieve meaningful transformation is all well and good, but have you ever wondered what does that goal means like for your brand specifically?
Now brands may be united in their desires to deliver these goals, but once you get there it might look completely different in every industry right from construction to coffee.
That is the exact reason as to why it is important for brands to brainstorm and thereafter define concreate and specific goals that they want to achieve through the power of customer experience.
Hence right now once you are opening your business in this post-COVID-19 new world, think about what you want your brand to accomplish, which might include:
Stand to improve customer retention
Lowering the cost to serve
Getting better at closing the loop with customers
This is because creating a focus like this will enable organizations to build better CX programs and keep an eye on the ball as it delivers results.
Moreover, focusing allows brands to track their progress and subtract or introduce program elements as and when needed for business growth.
Key Element #2
The very next step that businesses need to take after defining their goals for their CX programs is to align their proper resources and stakeholders.
Now while for some brands this might mean creating a CXO (Chief Experience Officer) position or aligning customer service and finance departments for the brand, for others this could even result in creating an entirely new CX team and juxtaposing it alongside customer-facing departments.
In other words, it is crucial to get all the right players in the same room.
Moreover, aligning the right stakeholders can also enable the organizations to close their outer loop, which implies adopting a company-wide culture dedicated to customer success and thereafter continuously improving the ethos for business growth.
For this, once businesses are using an easy to use CRM , they can use metrics like NPS (Net Promoter Score) and its underlying philosophy which can prove to be helpful.
In fact, aligning the stakeholders ultimately prevents CX from getting relegated to one silo department and instills its fundamental values of doing business to help gear-up an entire organization towards continuous improvement and ultimately find success in a collaborative way.
Key Element #3
As the third key element, here is another reason why it pays to make CX an organizational endeavor: visibility.
This is because visibility goes a long way in helping employees and departments to get inspired and work towards an improved experience.
As we discussed even before, keeping the CX initiatives confined within a single department or team, in reality, makes achieving those initiatives much harder, hence making CX initiatives visible across departments enables all groups working in an organization to strive more ambitiously to attain their goals again and again by working towards a better experience and transformative achievements.
Key Element #4
Alignment and focus can help CX programs proliferate accountability which can help ensure that the work actually gets done.
Now for many, we know that this point asks for a little elaboration.
Nevertheless, once brands establish and focus on both KPIs and goals for their CX programs, the stakeholders who are involved need to hold each other accountable if they earnestly wish to achieve those goals.
In other words, CX teams in any organization that wants to grow its experience should establish a regular cadence for reviewing metrics, conducting meetings and look for ways to adapt today’s progress to match with their tomorrow’s CX goals.
Hence it is much needed that the stakeholders must review customer data, KPIs, and operational and financial metrics at these times.
Key Element #5
Finally, to conclude, the focus, and the alignment, along with visibility, and the sense of accountability all these four elements are feed straight into the fifth and the most significant element that helps in governing an effective CX program: management.
This is because perfect CX governance can only happen in the light of effective management, which can help define a specific focus for a CX program, aligning all the key resources and players and lastly allowing CX enthusiasm to flow organization-wide while keeping the accountability of the players involved for finding rapid business growth.
Even though there is no short cut or a silver bullet for achieving this job, nevertheless great CX management can only happen from effectively and meticulously governing its four mentioned before preceding elements as only organizations that can pull this off will be the only ones to reap the success they need to re-establish a foothold in the post-COVID-19 world.
Change is never an easy thing, even when you are aware that it is absolutely necessary to improve your situations for business growth. Now while the familiar is always a comfortable proposition for anyone, sticking with the things that we have always done is most often the fastest killer of advancement.
It is a well-accepted fact that existing and repeat customers are of more value to any B2B business than the fresh and new ones, although in a recent report from BRP (Boston Retail Partners) e-commerce retailers still pay attention to acquiring the later ones.
It is not the most difficult time for trade and commerce, even though there is huge chaos about it. A good brand will always have customers following and buying from them. Now, how does a brand become good and others average or even below that?
What is/are the real need(s) of your customer? What do they really want? This age-old question which has beguiled many has nevertheless taken an added urgency in today’s tech-driven digital economy.
AI or Artificial Intelligence is infringing on the human-made sales process at an accelerating and exciting rate, or for some in a frightening manner, depending on your side of the coin.
Working as a freelancer is a great option for many people, particularly those in the creative industries. From writers to artists to graphic designers and more – being a freelancer is a great avenue to allow you artistic freedom and to let yourself take on the projects that you are passionate about
Chat solutions are very fast becoming one of the main channels when it comes to customer service. In fact, in a research done by Eptica, it was found that while only 7% of businesses used chat services in 2013, whereby nowadays 44% of brands use chat solutions and advertise it on their websites.
The distinct pieces of information or data is a salient feature behind the advancement of technology. The management of data and strategically utilizing it for the development of technologies has augmented business growth. This processing of raw data with specific methods and tools is known as analytics.