All the talk around customer experience (CX) has put the topic on the big map of business trends. However, convincing stakeholders to invest in CX is another matter.
Of course, leading research firms offer statistics that reinforce the value of CX. But, how can the C-suite be sure of a significant return on investment?
An even more fundamental question arises: Is there really a need to change? Metric scores may point in the right direction, revenue could be steady and competitors struggling. So, why bother?
By answering these questions convincingly, CX professionals can take a giant leap in securing CX investment.
Our executive report “The Cost of Complacency: Proving the Business Case for Investing in Customer Experience” provides much-needed guidance to CX professionals. With insights from veteran CX practitioners, the report is a must-read for CX professionals who want to advance their initiatives. Included are tips to overcome C-suite anxiety and other barriers.
The most prevalent barrier? Complacency. Nothing tightens a stakeholder’s purse strings quite like complacency.
On this theme, here’s a sneak peek into the advice in our report.
The Cost of Complacency
Let’s start by considering what drives stakeholder complacency. Often, it’s a fixation on a “north star” metric – which is typically customer satisfaction (CSAT) or a net promoter score (NPS). So long as such scores stay steady, enhanced customer experience investment may seem like an unnecessary course of action.
However, a good CX metric score doesn’t always show the full picture. For starters, it’s often manipulated by leaders who are under pressure to hit their targets.
When this happens, watermelon metrics arise. Beneath their shiny green skin lies a mass of red, highlighting the many bad practices that skewed the score. It’s the CX professional’s job to bring that “red” to life and translate it into costs. Do this right and heads will turn.
Other metric mishaps that feed C-suite complacency include external benchmarking. Many senior leaders are pleased when their organization has a CSAT score well above average for its sector. Yet, other companies may measure CSAT differently or collect data at a different point.
So, isolate problems, not metric scores. Then, drive home the point through key performance indicators (KPIs) plus customer feedback and research that highlights the full extent of the issue in terms of business, customer and employee impact.
Hungry to learn more? Well, there’s a lot to chew on in our report. Download it today.
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Charlie Mitchell is an award-winning writer on customer experience.