Why is CX More Important Than Ever, Right Now?
I meet daily with CX teams and CXOs with the business-critical responsibilities of realizing and implementing what is stamped in capital letters over strategy and steering documents. Namely, customer-centricity.
Sentences like “The customer at the center”, “We love our customers”, and “We are nothing without our customers” write themselves. It goes without saying that no company can exist without a customer at the other end. We all depend on offering something that the customer wants, pays for, and is willing to recommend to others.
“We need to spend the money on other things right now. The customers have to wait.”
If you run CX and customer-centricity in your organization, you may currently be scratching your head over a tighter budget or the priorities being made. Priorities that you know will put the business-critical customer experience at risk. You may also be scratching your head over how to bring the topic to the table. For you, I have collected some points to bring to your next management or board meeting.
Why customer-centricity is crucial right now:
1️⃣ Customers review their costs and question what was previously routine.
Accounts, agreements, subscriptions, and direct debits are renegotiated or terminated. What do we need to prioritize and offer in order to prevent increasing churn and a declining customer base?
2️⃣ Industries that were previously of low interest suddenly become highly topical.
How can you be relevant in rapid change? (I’m probably not the only one having conversations about energy suppliers and prices at dinner parties lately.)
3️⃣ A good customer experience can justify higher prices.
How can you justify increased overheads and price levels if the customer experience is not up to par?
4️⃣ Stop doing!
Which offers, products and services incur costs without creating customer value? What can you stop doing?
5️⃣ It’s very rarely the good customer experiences that cost money.
It is a common misconception that good customer experiences need large investments. Rather, it is the bad customer experiences that cost money. Both in the forms of reduced demand and the internal processes required to help the situation.
💰 One thing we all know for sure is that eventually the dark economic clouds will dissipate. Whether or not your company will be a winner can be decided by the priorities that are made now.
❤️ Another certainty is that the customer relationship is like any relationship - the best way to destroy it is by not prioritizing it.
Ulrika Ewerman is an Independent CX (Customer Experience) Advisor and expert in CX Management and CX Strategy Execution. Over the past 20 years, she’s been working globally, creating impact through CX Methodology, Management, Organization, and Execution. She holds an MFA in Design and has headed senior management roles at Veryday, McKinsey, and Volvo Car Mobility.
Today she supports organizations and brands to unlock the CX potential to become truly customer-centric, with a human-centered, possibility-driven, and iterative approach. Find more about Ulrika on her LinkedIn profile.
By Ulrika Ewerman - November 24, 2022