Last week was the 2018 CXPA Insight Exchange in New Orleans. As always, the spirit of ‘CX’ was alive and the networking and sharing of the latest trends and best practices in the field were immense. This year, the group focused on how we as CX professionals can continue to create business value. We challenged ourselves to think in every situation and conversation how we create value for our companies.
Below is a summary of a few of the key themes about “creating business value” that were prevalent during the conference:
- We are still talking a lot about what the right KPI and metric are for companies. It seemed that in most conversations that were happening, somehow the question of “what metrics do you use?” would come up. While the typical responses of NPS, Experience and Loyalty were common, it did feel as though this conversation has changed a bit in the past year. I heard more conversation amongst participants related to not overthinking this part of the CX equation, going with one that felt like a good choice and fit for the company, and just testing it over time. The consensus was to find out what executives are interested in tracking and go with it.
- ROI is being demonstrated in many ways. We have historically thought about ROI on our customer experience efforts financially. This is still true today and something that we aspire to in order to demonstrate our business value to our organizations. That said, CX professionals are getting more savvy with demonstrating the softer side of ROI. Companies shared examples such as calculating how many customers have been touched through CX efforts, the breadth of insight reach in the company and even storytelling directly from customers as ways to demonstrate the impact of customer centricity.
- Qualitative research isn’t dead. In an era of real-time listening and technology platforms that enable surveys to easily scale, traditional research methods such as qualitative interviewing and focus groups have been thought of as the way of yesterday. In gathering input from the CXPA Insight Exchange participants, I learned that these in-depth exploratory methods of gathering feedback from customers are, in fact, more alive than ever. Companies, both B2C and B2B, are finding that they need more depth to support their quantitative research and these qualitative methods are just the ticket to get them the insights that they need.
It was a successful week and exciting to see the continued enthusiasm of the CX profession. Please feel free to reach out to me if you are interested in learning more about the CXPA Insight Exchange or how you can amplify your business value within your organization!