Quarterly Newsletter: Experience Next – What is Customer Experience Transformation?

CUSTOMER EXPERIENCE TRANSFORMATION… What the heck is that?

At G2O, we are your Customer Experience Transformation Partner.When I use those exact words, people – either with their eyes or with their actual words – often ask: What in the world does that mean?

Well, here’s exactly what that means:

Customer Experience Transformation is the ongoing improvement of a company’s offerings, processes, technology, and culture to enhance customer value in every interaction, enabling sustainable growth and competitive advantage.

While that definition succinctly communicates everything that CXT is, accomplishing your own CX Transformation requires a bit more information, a sincere commitment, and a little help.

That’s why we’re here. And that’s why we’re publishing this newsletter. To help you identify and start taking the first steps in your organization’s CXT.

In this premiere issue of Experience Next, we’ll discuss why a digital transformation isn’t enough, cover the real ROI of a CXT, and touch briefly on how a true CX Transformation involves an entire organization, not just the “Experience Team.”

And if you have any questions about the process of transforming your organization’s Customer Experience, please reach out.

We’d love to help.

Kelly Gratz, CEO

Yes, Digital Transformation Initiatives are a Good Thing. But They’re Far Better and More Impactful if They’re Part of a True CX Transformation. It’s One of Those “Yes, and…” Things.

Yes, as technology advances and customer expectations increase, you need to transform your digital capabilities, processes, toolsets, and operations. But by themselves, those enhancements are simply not enough. In today’s hyper-competitive, consumer-centric world, you need a comprehensive Customer Experience strategy to take your digital transformation – and your business – to the next level.

Forrester recently calculated that for mass market auto manufacturing, improving CX by just one point could equal more than $1 billion in additional revenue “because improving CX increases the chance that customers will buy their next car from the same brand and take the car to the brand’s dealership for service needs.”

Obviously, most organizations aren’t dealing in numbers like Ford, Toyota, or any major car company, but study after study has shown similar results. (Learn more here or here.)

Curious how you can benefit from a little increased attention to your CX? Let’s talk.

Stat one and two. Stat three.

When companies work in silos and act like Customer Experience is solely the realm of the official “Experience Team,” they are seldom capable of achieving the same results as they could with a multi-disciplinary approach.

Transforming your CX – and maintaining that great experience for your customers – requires a commitment across your organization. It’s often as much a cultural transformation as it is one of processes and technologies.

At G2O, we believe that everyone plays a role in the Customer Experience.

“When people think about the role technology plays in the customer experience, they often focus on the technology that the consumer uses. However, the tech used by roles like your account managers, bank tellers, or service technicians can have just as much of an impact on the overall CX as the UI of your mobile app.”

“Organizations need widespread buy-in for a CX Transformation to create sustainable business growth. It’s not a short-term thing. And it’s not the responsibility of only a few people. It takes time, but more importantly, it takes a company-wide commitment – from executive management through every department and team.”

“Collecting and organizing reliable, honest data is crucial to a good CX, including the personalized recommendations that maximize value for the customer.”

Improving your CX is not only driven by increasing customer demands and competitive pressures. It’s also now being required by the FTC, FCC, and other federal agencies.

The government might not exactly be mandating a CX Transformation, but they are saying companies need to make it easier for consumers to unsubscribe from unwanted memberships and recurring payment services.

The initiative is called “Time is Money.” And according to Neera Tanden, White House domestic policy advisor, “The administration is cracking down on all the ways that companies, through paperwork, hold times, and general aggravation waste people’s money and waste people’s time and really hold onto their money.”

Read more here from the Associated Press

The term “Customer Experience Transformation” can seem a little daunting.

But you don’t need to do it all at once. You can start experiencing results after even the smallest of improvements.

Let’s connect and figure out the first steps in your organization’s CXT.