An outstanding CX initiative can make or break a business, determining financial outcomes and setting the bar for customer experience. In fact, surveys show that organizations that focus on building their CX programs report an 84% increase in revenues. How can organizations break this process down and create achievable results?
It’s critically important for companies that are motivated to improve their CX to set crystal clear goals with a specific direction and robust resilience and flexibility if the intended financial benefits don’t materialize. It’s also important that they recognize the challenges involved in maximizing the financial impact of their CX programs. Sometimes it can be difficult to track the results of these programs – quantifiable measurements of success are not always easy to track. And it’s true that the outcomes of CX program can take a while to analyze. That said, there are certain strategies that can contribute to the ROI of any CX initiative.
- It’s important for organizations to have a clear picture of the current state of their customer experience practices. Leaders need to have an understanding of the strengths, weaknesses and challenges within their business model. This type of analysis can be conducted via customer feedback (samples of written feedback), reviews (samples of public reviews from trusted sources), customer retention rate, quarterly revenue data, and possibly most importantly, staff interactions. A great deal can be learned by observing customer interactions with frontline staff.
- Organizations that excel in the CX field set measurable goals as a way to approximate the success of their programs – with the key word being “measurable”. Key metrics can play a huge role in driving CX initiatives. An example of this might be increasing positive reviews on Trustpilot by 10% over 18 months, or improving the Customer Satisfaction Score (CSAT) from 75% to 90% over 12 months.
- While it sounds like common sense, creating a clear and achievable plan is key to the success of any CX program. This plan can be broken down into different timeline increments to implement and analyze action steps, with the intention of incorporating technology and training into the CX plan as needed.
- Encouraging employees to buy into an organization’s CX program brings a strong psychological element to the mix – offering rewards and recognition for exceptional contributions benefits everyone.
- It’s also critical to consistently monitor a CX program to ensure that a company is receiving the best ROI. Performance reports, budget reports, and improvement metrics will all play a role in this strategy.
- Lastly, all successful CX programs must have the ability to pivot and adapt when faced with unexpected events, or weak outcomes. Analysis, troubleshooting, tweaking and improving must all play into the strategy of realigning the activities o any inadequate customer experience program.
More and more businesses are turning to highly specialized customer service outsourcing companies like Anexa to support and strengthen their customer strategies.
Anexa agents are trained to represent all brands with authenticity, and our initiative – “get to know what your audience is looking for” – is literally founded on our core customer service principles of emotional intelligence and customer empathy. As a twenty-year veteran in the customer service industry, Anexa was awarded prestigious gold and bronze Stevie Awards in the 2021 Customer Service Department of the Year and Company of the Year; and was named a finalist in the 2021 Customer Centricity World Series. Factor in that we specialize in bilingual services, with highly trained English and Spanish-speaking agents, and it makes sense to consider this Anexa for your CX needs.
Reach out to Anexa for more information.