Do I need a CX manager for my business?
If you are wondering what CX stands for and why you should care about it, you are not alone. Many business owners and managers are still unfamiliar with the concept of customer experience (CX) and its impact on their bottom line.
What is CX exactly?
CX is short for Customer Experience, and it refers to how customers perceive their interactions with brands. It encompasses everything an organization does to deliver superior experiences, value, and growth for customers. In a digital world, where customers review and share their experiences with a company in public forums, it has become vital for companies to connect with customers across their journeys at an emotional level.
CX is not just about satisfying customers at individual touchpoints, such as making a purchase or contacting Customer Service. It is about creating a seamless and consistent experience across the entire customer journey, from awareness to Loyalty. A customer journey describes the customer’s end-to-end experience, as opposed to their satisfaction at various individual transactions or touchpoints. These can include many things that occur before, during, or after the customer experiences a given product or service.
Why is CX important?
CX is important because it can make or break your business. According to a report by Forrester Research, improving CX can lead to increased revenue growth, customer retention, customer satisfaction, and customer advocacy. On the other hand, poor CX can result in lost customers, negative word-of-mouth, damaged reputation, and reduced profitability.
CX is also becoming the key differentiator in today’s competitive market. Customers have more choices than ever before, and they are willing to switch brands if they are not happy with their experience. A study by PwC found that 32% of customers would stop doing business with a brand they loved after one bad experience. Moreover, 86% of customers are willing to pay more for a better experience.
Some examples of good and bad CX
- Good CX: Amazon offers fast and free delivery, easy returns, personalized recommendations, and a wide range of products and services. Customers can also use voice assistants like Alexa to shop and interact with the brand.
- Bad CX: a cable company makes customers wait for hours for a technician to show up, charges hidden fees, provides poor quality service, and makes it hard to cancel or switch plans.
- Good CX: Starbucks rewards loyal customers with free drinks, personalized offers, and mobile ordering. Customers can also customize their drinks, enjoy free Wi-Fi, and join a community of coffee lovers.
- Bad CX: a restaurant serves cold and stale food, has rude and unprofessional staff, charges incorrect prices, and ignores customer complaints.
What does a CX professional do?
A CX professional is someone who is responsible for designing, managing, and improving the customer experience for an organization. A CX professional can have different titles and roles depending on the size and structure of the company, such as CX manager, CX director, CX strategist, CX analyst, or CX designer.
A CX professional typically performs the following tasks.
- Conduct customer research to understand their needs, expectations, preferences, pain points, and feedback.
- Map out the current state of the customer journey and identify the gaps and opportunities for improvement.
- Define the desired state of the customer journey and create a vision and strategy for achieving it.
- Design and implement solutions that enhance the customer experience across all touchpoints and channels.
- Measure and monitor the impact of the solutions on customer satisfaction, loyalty, advocacy, and business outcomes.
- Collaborate with other departments and stakeholders to ensure alignment and integration of the customer experience across the organization.
The importance of having CX professionals in corporations
Having CX professionals in corporations can bring many benefits to both customers and businesses.
Some of these benefits are:
- Increased customer Loyalty: customers who have positive experiences with a brand are more likely to stay loyal and repeat their purchases. They are also more likely to recommend the brand to others and become advocates.
- Reduced customer churn: customers who have negative experiences with a brand are more likely to leave and switch to competitors. They are also more likely to spread negative word-of-mouth and damage the brand’s reputation.
- Enhanced brand reputation: customers who have consistent and seamless experiences with a brand are more likely to trust and respect the brand. They are also more likely to perceive the brand as credible and reliable.
- Improved business performance: Customers who have superior experiences with a brand are more likely to spend more money and generate more revenue for the business. They are also more likely to reduce costs by requiring less service and support.
How can CX companies help you?
If you want to improve your customer experience but don’t have the time or resources to do it yourself, you can hire a CX company to help you. A CX company is a specialized firm that offers services related to customer experience design, management, measurement, improvement, and innovation.
A CX company can help you by:
- providing expert advice and guidance on how to create and execute a customer experience strategy that aligns with your business goals and objectives.
- conducting customer research and analysis to uncover insights and opportunities for enhancing your customer experience.
- developing and implementing solutions that address the pain points and needs of your customers across their journey.
- evaluating and optimizing the effectiveness and efficiency of your customer experience solutions and initiatives.
- training and coaching your staff and leaders on how to deliver exceptional customer experiences.
One example of a CX company that can help you is Pobuca with Pobuca Experience Cloud a customer experience & Loyalty platform that enables you to measure, design, and improve your CX in a loop. You can get started for FREE and get lifetime access to some of the features.
Specifically, Pobuca Experience Cloud acts as the ultimate single point of truth about your customers and their interactions with your business. By capturing and centralizing customer data, you gain valuable insights that enable you to measure CX effectively. Armed with this knowledge, you can design a tailored strategy based on key performance indicators (KPIs) and continually improve your CX efforts in a constant feedback loop.
What sets Pobuca Experience Cloud apart is its powerful Customer Data Platform (CDP), built on the foundation of Microsoft Dynamics 365. This integration provides you with a complete CRM ecosystem, ensuring seamless management of customer relationships. With a comprehensive view of your customers, you can personalize interactions, anticipate their needs, and deliver exceptional experiences across various touchpoints.
In conclusion, in today’s competitive business landscape, customer experience (CX) plays a pivotal role in determining the success and profitability of companies. To thrive in this environment, businesses need to prioritize CX and leverage advanced technologies to drive growth. That’s where hiring a CX expert comes into play, but businesses that don’t have the time or resources to do it themselves, just be smart and partner with a CX company can offer you a complete solution that covers all the aspects of Customer Experience, from measuring to innovation.