On 28 May at the Institute of Directors (IoD) in London, a special event was held to discuss the new Forrester UK Customer Experience Index. Guest speaker Joana van den Brink-Quintanilha, senior analyst for Forrester Research Inc, rightly pointed out that we are firmly in "the age of the customer - a time when focus on the customer matters more than any other strategic imperative." She delved into the Forrester UK CX Index, explaining which companies were getting it right, and which ones had a lot to learn.
Joana’s key insight is based on the idea that while delivering a great customer experience is not easy, there is a well-defined path to improvement and maturity (start with a stronger language). There’s also a strong business case for it – cumulative total return for customer experience leaders (+43%) far outstripped that for customer experience laggards (-34%) and the S&P 500 (+15%) from 2007-12. (Source: Watermark Consulting, 2013)
Companies that improved their CXi scores in 2014 had some common characteristics:
-Digital experiences dominated the CXi most improved list for 2014
-Old-school channels got modern makeovers
-Tools for frontline employees moved into the 21st century
More broadly, firms continued the march toward customer experience maturity by:
-Changing business processes to prevent bad experiences
-Using governance to socialize, prioritize, and coordinate efforts across the ecosystem
-Adopting customer-centred experience design processes, including design best practices like customer co-creation, iteration, and testing with real customers
Over time, the things that differentiate customer experience leaders most are:
-A relentless obsession with the customer and the whole CX ecosystem
-The existence of a clear customer experience strategy to guide activities and resource allocation
-Focus on cross-touchpoint experiences
-Use of technology and digital to drive newer and better experiences
Brooks Crichlow, VP of Product Marketing at 7.ai, rounded off the evening with a set of ideas for how customer experience translates into customer engagement. The first is that good customer experiences are intuitive ̶ they make it easier to do the things you care about. The challenge is that this keeps getting harder for enterprises because consumer expectations and behavior are changing so rapidly.
Using data, predictive analytics, and design to anticipate customer intent and simplify the experience at the point and time of interaction is the next big step in creating a deeper level of engagement. Borrowing from Forrester’s new book, The Mobile Mindshift, Brooks emphasized the importance of delivering in the moments of truth for your customers, where “the expectation that I can get what I want in my immediate context and moment of need” is becoming the new bar for customer experience.
If you’d like more information on the Forrester UK Customer Experience Index report or how predictive analytics and data-driven design can improve the CX experience, please email me.