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Forrester's Daunting CX Prediction and How CX leaders Can Overcome It

Khoros Staff

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"CX leaders who can’t prove their value to the business will find themselves on the street. Those who do keep their jobs will do so by ensuring that their metrics and measurements relate to what matters most: KPIs with a dollar sign in front of them.” - Harley Manning, Forrester Research

It’s no secret that those who have stepped foot in the newly chartered customer experience (CX) arena are feeling the pressure to show the proof in the CX pudding. And while Manning’s initial forecast did not account for a global pandemic, COVID-19 has only accelerated the race (not only against time and competitors, but most of all, against leadership stakeholders switching focus to other priorities) to create exceptional customer experiences that produce measurable business outcomes.

Over the last five years of working for SaaS companies in the CX space (formerly at Topbox, I joined the Khoros team via the acquisition earlier this year), it’s clear CX pros understand why it’s mission-critical to translate CX program outcomes into dollars and cents - they are just grappling with how to do it. 

Understandably so. As consumer expectations continue to shift towards an "always connected, via any device or channel” relationship with brands, companies are providing customers with more options to communicate than ever before. The added complexity of more point solutions, more disparate data, and more silos makes it increasingly difficult to execute a unified CX strategy. 

Here’s the light at the end of the tunnel. Many CX leaders have been able to emerge out of the CX labyrinth with tangible benefits to show for it. They’re the professionals who have kept their jobs and increased CX adoption and investment at their company over the last year. 

In our upcoming webinar on May 26, Why CX Programs Struggle to Demonstrate Results, we will be discussing why customer experience professionals are failing to demonstrate the business impact of their efforts and provide actionable steps for how to overcome internal hurdles to transforming insights into measurable outcomes.

We will cover:

  • Three steps to proving the business results of your CX program
  • Why the right data is key to transforming customer insights into business outcomes
  • How to create a unified view of the customer at your organization

Register for our webinar HERE 

If you’re unable to attend, go ahead and still sign up. We will send all registrants a recording following the webinar: 

Instead of heeding Forrester's message as one of warning, step up to the plate and invest the time to spring to the first proof points. We hope to see you there!

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Khoros Staff

In support of the above, here are some recent data points that underpin many of the reasons CX leaders are struggling to equate customer experience wins into measurable revenue:

  • 93% of CX leaders reported using a survey-based metric as their primary means of measuring CX, but only 15% of leaders said they were fully satisfied with how their company was measuring CX—and only 6% expressed confidence that their measurement system enables both strategic and tactical decision making (source here)
    • Testament to the above: Only 16% of CX leaders say that surveys provide them with granular enough data to address the root causes of CX performance (source here
  • 76% of customers expect consistent interactions across departments. However, 54% say it generally feels like sales, service, and marketing don’t share information (source here)
  • 37% of digital customer experience executives said data silos and/or fragmented customer data are hurting their digital customer experience initiatives (source here)
  • 38% of CX practitioners say customer feedback insights never reach the relevant business units (source here)
In the webinar mentioned in the article, Why CX Programs Struggle to Demonstrate Results , Chris discusses how leaders can solve these common problems head-on to create sustainable, revenue-driving CX programs. 
 
If you missed the webinar this last week, you can watch the on-demand recording here: https://bit.ly/3vtKYGp
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Last update:
‎05-12-2021 08:00 AM
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