The right customer experience framework can make it much easier to make smarter business decisions and drive ROI. But according to a recent Forrester survey of CX professionals, 42% of respondents said that their CX program maturity is low or very low, and only 12% said that it’s high or very high. In addition, 44% of the CX professionals surveyed didn’t even know the ROI of their program. Without quantifiable results, it’s difficult to prove the worth of a program to stakeholders who can give you the resources you need to perfect your CX strategy.
Organizations must begin to invest more in tracking and improving CX metrics like customer satisfaction (CSAT) and net promoter score (NPS) – using these metrics to guide decisions across the organization. At the same time, they need to decide how to prioritize improvements and get buy-in from the right stakeholders. In this article, learn how you can successfully implement a new CX framework to consolidate, visualize and analyze experience management data and drive smarter business decisions.
How to Integrate Data
When data isn’t integrated, your CX team won’t be able to fully analyze data intelligently, meaning you may lose critical context about customer and employee journeys. It also stifles your ability to capture real-time insights, leading to slower decision-making processes than necessary.
A holistic, fully-integrated program can help you fill the gaps in your data pipeline. Look for a program that connects many metrics of the customer experience, including surveys, text analytics, digital feedback and digital behavior analytics. Once integrated, coordinated action becomes much easier, allowing you to use the same data pool across the organization to streamline automation and use predictive analytics that any team or department can use. This can help you boost important metrics like CSAT and NPS.
Use Technology Advancements to Your Favor
Advancements in technology like artificial intelligence and automation give you more opportunities to use tech to improve your CX program. Organizations have expressed more interest in leveraging AI and machine learning capabilities in the past year, according to Simpler Media Group’s 2021 “State of the Digital Customer Experience” report. When asked about their DX investment priorities, 30% of organizations said this was a priority – moving from one of the least popular answers in 2020 to the third most popular answer in 2021. According to SMG analysts, this may mean that these technologies are becoming a part of everyday life for these organizations and that DX leaders are seeing AI make a real difference.
An example of a mature technology platform is Verint’s Experience Quality framework, which gives you the insights you need to improve key metrics like CSAT and NPS. The framework starts with various listening programs you can use to understand customers. Beyond traditional methods like surveys, other useful ways to collect customer data include contact center conversations and customer feedback via email and post-call customer satisfaction surveys. From there, it’s essential to unify all the data together up front, so the CX platform has the information it needs to provide a comprehensive, analytical view of customer interactions in real time.
Make Executive Buy-In a Key Element of Your CX Program
SMG’s report found that 25% of respondents said that “lack of strategy, focus or executive support” is one of their top three digital customer challenges. Meanwhile, most CX leaders said that either the marketing/CX team or executive team/board is the primary decision-maker for digital CX technology investments. Without proper executive support, your organization may not be able to make the decisions/investments necessary to get the ROI you want.
Once you get this buy-in, C-suite leaders can use data and analytics to inform long-term decisions, improve business performance and increase shareholder value. Some valuable metrics for leaders include predictive ROI models, benchmarking numbers and competitive insights.
Mastering CX creates many benefits for organizations, no matter their size or industry. According to recent Verint research, customers who report having a great experience are 84% more likely to recommend the brand to other people and 70% more likely to return to the site.
Yet despite these benefits, over 70% of CX leaders struggle to design projects that increase customer loyalty and drive results, according to Gartner. While many DX executives don’t understand customers as well as they’d like, new technologies help teams with proven, mature DX tools narrow this gap and see stronger results.
Learn how Verint can boost your digital transformation efforts here.