Return on Experience: The new phase in Customer Experience Management

by Ana Milicevic

Return on Experience: The new phase in Customer Experience Management

by Ana Milicevic

by Ana Milicevic

CEM becomes mature

Many organizations are fully engaged in mapping the customer experience and devising new propositions and service concepts for a WOW experience with their customers. Customer Experience Management (CEM) becomes a mature market!

Nu de markt volwassen wordt, komt de onvermijdelijke vraag: wat maakt de early adopters anders dan de lagging majority? In This blog I explain how we go from faith to proof!

In the stage of ‘ faith ‘ there is an intrinsic belief in senior management that offers the initiative value. In fact, they have taken the initiative and sponsored it first. The evidence that this value actually exists is only to be addressed later. When evidence prevails, there is usually a situation in which management cannot ignore that something is going on. They want to explore the benefits, but make the inevitable question: what does this bring us?

Connecting the dots: Company Value & Customer Value

With this next step in the maturity of CEM, in which evidence becomes increasingly important, it is clear that making the contribution of customer value to company value becomes a prerequisite. Building a SUCCESSFUL CEM program in your own organisation and for customers is increasingly a matter of fact-based. Choosing what is paramount in devising your next change steps to successfully develop, your own organization first or the customers first, depends on your current management and culture.

Return on Experience

There are increasingly innovative ideas to make this link between customer value and company value. I recently read an article that introduces a new measurement value for me: the ROX (Return on Experience).

Not only the approach is important, but above all the basic principles:

  1. Connect Customer experience to employee experience;
  2. Construction aimed at communities;
  3. Build ‘Magic Moments‘ in the customer’s journey;
  4. Build Customer Insight based on their behavior;
  5. Use customer data and feedback with respect and deliver value in return;
  6. Win The trip

I see, particularly in the 4th and 5th bullet points, many parallels exists with the framework that we developed two years ago. This enables performance management, data science and qualitative techniques to make customer journeys transparent in terms of (customer-& Company) value development: The CX Insights Framework.

The most important question with these two principles mentioned above is: how do you use data and data-insight to steer focused on higher customer value which ultimately leads to higher business value?

Driven, multidisciplinary and agile

Especially when an organization adopts new forms, such as SAFe (Scaled Agile Framework), a data driven approach becomes increasingly important to consider. In an Agile design organization, the tactical middle management is often disappearing by self-steering teams. Data can help senior management and self-managing teams by connecting Kpis to insights (from data) and translating them into value. The main priorities (user stories) for the agile teams and their backlog are made visible.

Certainly for companies that want to follow the value of changes and to make opportunities for the future transparent, there are important opportunities to really get started with Return on Experience. This is where we, as Underlined, have developed the CX Insights Framework. Continuously we look at which (customer) KPIs, data and methods lead to the best insights and forecasts to arrive at a winning APPROACH in CX. Better for the customer and better for the company.

Continue to improve the customer experience

We work together with our clients and leading universities to research how customer experience can be continuously improved to a 9 + experience and which value development offers, with organizations:

  • Agile service can improve
  • A continuous flow of insights available for the next improvement
  • Have a continuous flow of insights available to track improvements already made
  • The required data science is always on
  • Experience and insight into customer experience as a starting point for all improvements to be relevant

Learn more about the CX Insights Framework and how Underlined customers use it to improve the customer journey? Please contact us. We will be happy to talk to you for your specific situation.

Publication by:

Theo van der Steen
Partner Underlined

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