The latest research into Customer Experience Measurement makes stark reading. Get the inside track and data to support your business case for CX.
Customer experience (CX) is one of the most important factors influencing customer satisfaction, loyalty, retention and revenue. However, measuring CX can be challenging and complex, especially with existing systems that are often too subjective, retrospective and non-representative®.
If you are a senior business person or a customer experience professional who wants to gain organisational support for your efforts, produce actionable plans that improve customer experiences and build credibility for your CX efforts, then you need a new and innovative system to help you measure CX effectively and efficiently.
Some of the common challenges and limitations of existing CX measurement systems are:
They rely too much on subjective feedback from customers, such as surveys or ratings, which can be influenced by various factors such as mood, memory or social desirability
They are too retrospective, meaning they capture customer opinions after the experience has occurred, which can miss important moments or emotions during the experience
They are not representative, meaning they only capture a small sample of customers willing or able to provide feedback, which can skew the results or miss important segments or personas.
Some of the recent findings make for stark reading:
According to a McKinsey survey, the typical CX survey samples only 7 per cent of a company’s customers, providing an extremely limited view of what customers experience and value
Another McKinsey report states that nearly two-thirds of respondents ranked the ability to act on CX issues in near real-time as among their top three priorities, but only 13 percent of leaders expressed certainty that their organizations could achieve this level of rapid insight through existing systems
Too much subjective data often makes aligning customer goals with business outcomes difficult. Getting lost in the sheer mass of available data is far too easy.
These challenges can lead to inaccurate or incomplete data on customer experiences, resulting in poor decisions or actions that do not address customers’ real needs or expectations. This can ultimately affect customer satisfaction, loyalty and retention.
So how can you enhance your CX measurement with objective, fact-based and actionable approaches?
How can you connect a modern CXMS to business goals and outcomes?
One way is to adopt approaches that add to existing CXM systems by incorporating six elements that directly measure experiences: How Easy, How fast, How convenient, How trackable, How personalised and How predictive.
Combine those measures with a unifying model, such as the Customer Performance Landscape® and directly link the customer experiences with business goals.
The CEMMethod® Customer Performance Landscape®
Over the last decade, we have codified these best CX measurement practices into the Customer Experience Management Method® (CEMMethod®). These approaches are based on leading global companies’ ‘next’ practices. Sometimes, the Customer Experience 6 (CX6) measurement approach has completely replaced previous systems like CSAT and NPS.
The CX6 includes easy-to-measure elements across all experiences and can produce results from a simple and quick analysis. The approach will ensure full support from the business leaders and put all your CX efforts on steroids. It also doesn’t mean you have to abandon those dated approaches to CX measurement – you can either implement CX6 as a complementary approach or as a complete standalone system.
If you would like to see how the CX6 can help we invite you to join our upcoming webinar on measuring customer experience with CX6.
In this webinar, you will learn:
What are the main challenges and limitations of existing CXM systems
What are the six elements of CX6 and how they relate to customer expectations and preferences
How to measure each element of experience using different methods or tools
What are the main benefits of using CX6 for organizations and customers
How to use CX6 in practice with a live demonstration
By attending this webinar, you will discover how CX6 can help you overcome the challenges of existing CXM systems and deliver better outcomes for both customers and organizations. You will also get to ask questions or share feedback on our presentation.
Take advantage of this opportunity to learn how to measure customer experience with CX6: a new and innovative system. Register now by clicking this link https://cemnext.com/cxm_landing and reserve your spot today!
Are you looking for a way to enhance your customer experience? Do you want to become a qualified Accredited Customer Experience Master?
Look no further than our 4-day online live program! Our program introduces and coaches you with ‘state of the art’ tools and techniques from the CEMMethod, a proven, tried and tested approach to enhancing customer experiences.
You will complete offline exercises, ideally based on your work, and on successful completion of ten exercises, you will become a qualified Accredited Customer Experience Master®.
Through your work you will then immediately be able to deliver the Triple Crown of benefits – lowering costs, growing revenues, improving service and increasing customer loyalty.
Imagine having the ability to deliver exceptional customer experiences through your organization’s processes, people, and systems. Our program connects you with the means to do just that. You’ll have access to the latest insights and strategies to take your customer experiences to the next level.
Join over 140,000+ professionals who have already taken the first step towards becoming Accredited Customer Experience Masters. Sign up for our 4-day online live program today and start transforming your customer experience success!
Customer Experience Frequently Asked Questions – the first we look at is ‘What is Customer Experience Management?”
This and eleven other Frequently Asked Questions associated with Customer Experience Management are discussed with supporting videos and decks at www.bpgroup.org/cxfaq.html
So what exactly is Customer Experience Management (CEM)?
Customer Experience Management (CEM or CXM) is a strategic and operational approach commonly used as a competitive differentiator. It involves aligning every aspect of an organisation towards delivering customer needs and successful outcomes no matter how far removed the customer is perceived to be.
Customer journey – what the customer does, expects and feels.
Supporting internal process.
Associated team and hierarchy structures.
Vision, mission & strategy.
Typically, companies who engage in Customer Experience Management activities outperform those who do not.
Customer Experience Management (CEM) is the practice of proactively managing customer interactions, perceptions, and emotions to create positive customer experiences throughout the customer journey.
It involves understanding customer needs, preferences, and expectations and then creating tailored experiences that meet these needs, that are memorable and leave a lasting impression.
CEM also requires connecting the customer experience to the means of delivery, such as the organisation’s people, processes, and systems. This means that CEM requires a comprehensive understanding of the customer journey and ensuring that the organisation’s people, processes, and systems can work together to provide a seamless experience that meets customer needs and expectations. Additionally, CEM requires a focus on developing customer relationships and fostering loyalty by providing ongoing support, feedback, and value
The latest research into Customer Experience Management makes stark reading. get the inside track and data to support your business case for CX.
This is what Forrester is predicting. Not just any pip squeak research company. When a CX authority says something like that, you must sit up and pay attention.
Ask yourself why this might be the case, and quickly, you will realise many CX initiatives are not adequately connected to delivering business benefits. Have you secured your CX efforts to win the triple crown (simultaneously growing revenues, reducing costs, and improving service)? If you haven’t, you may become that one in five.
Here’s some of the latest research from CX authorities (with several interesting data points).
Five Predictions For The Future Of Customer Experience
By 2023, employee experience will overtake customer experience as the leading “experience” focus and investment.
The Customer Experience organisations that win every time
The thriving CX initiatives connect their efforts with business benefits in everything they do. This gets the continual and sustained support of the top team. Abandon those flakey metrics and aim to get more scientific about the customer experience.
How to win the Triple Crown?
Get yourself and your colleagues ‘upskilled’ with the Accredited Customer Experience Professional® to acquire the latest tools, techniques, and proven approaches to winning with Customer Experience.