Customer-focused strategies have emerged as one of the best ways to give your company a competitive advantage, and CX professionals are the catalysts transforming CX. Here is a recommended framework to help CX professionals deliver business outcomes:
Step 1: Identify business outcomes. Business objectives are the outcomes defined as imperatives by the CEO and other stakeholders. Growing revenue from existing customers, increasing customer retention, reducing costs and increasing market share are examples of business objectives.
Step 2: Define success measures. Objective evidence is necessary to signal that the business objective has been achieved. Some are direct such as retention or growth rates.
Step 3: Develop meaningful insights, recommendations and alerts. This is the heart of a well-defined and well-executed CX program. It combines targeted customer intelligence with proactive and predictive analysis.
Step 4: Act on recommendations and alerts. Move beyond just delivering customer information and insights. Action plans are required to turn intelligence into catalysts for change.
Step 5: Track and measure results of actions. Use financial and operational data to validate the ROI of customer experience initiatives. It means showing the progression from what customers said to how you responded and then to the result achieved.
Step 6: Communicate successes. Laying firm groundwork across the steps in the framework allows for telling the story in a way that’s objective, fact-based and shows that success was achieved through improvements to the customer experience.