That has led these organizations to outperform their rivals and see stronger revenue growth than their competitors. A coordinated, clear, and fully integrated customer-centric transformation yields not just improved customer experience quality but also business growth.
The leaders interviewed for this report were convinced that their customer experience focus was critical to their overall performance and would continue to be so for the foreseeable customer experience strategies and tactics going forward.
Their biggest concerns were not whether the efforts put into customer focused transformation would pay off, but the challenge of making sure that customer experience efforts remain a top focus.
“There are always strategic choices to be made, and other priorities can overshadow the benefits of improving the customer experience. Nonetheless, we aim to improve the customer experience whilst, for example, replacing legacy systems,” said the customer experience leader at a financial services company. At the online retailer in hypergrowth mode, “a lot of things are happening,” says the performance marketing manager, noting that the launch of a new collection can take precedence over consolidating and analyzing customer data. “Getting resources to lock up the effort is always a challenge. It’s not a matter of buy-in.There is complete alignment and agreement that this needs to happen. But things are happening so fast, it can be hard to keep up with everything.” The vice president of customer experience at the terminal technologies provider agreed. “Overcoming competing priorities is the biggest challenge we face on all customer experience fronts.”
Ongoing vigilance will be important for all companies. Even leaders that may be ahead of their rivals in their customer experience delivery have by no means achieved mastery. They have plenty of scope to improve their data usage through a single-source of customer intelligence system. They too suffer from budgetary constraints and the continually growing deluge of customer data.
“There will always be new data elements, and tools are getting better and better,” said the credit CEO. “We’re doing reasonably well. But it’s something we can never become complacent with. It’s a journey.” And as it is one without a foreseeable end, what the best companies can do is map out a direction and pave the way for ongoing improvement and innovation. “Anyone that says they’re done with this is mistaken, particularly as technologies continue to evolve at a breakneck pace,” says the CCO of the institutional investment and benefits provider. “Our goal is to lay a solid foundation and create a technology environment that will serve us well in the future.”