In today’s world, organizations are competing through providing exceptional Customer Experience (CX).
It is one thing to have a grand plan on how you expect your employees to perform, however, how you treat your employees will determine their actual performance.
Two-thirds of companies compete in customer experience, up from just 36% in 2010. Which by the way, is a step up from providing exceptional customer service, which organizations pride themselves on prior to 2010. However, organizations are not yet clear what the difference is.
What is Customer Experience?
Wikipedia’s definition: Customer Experience (CX) is the product of an interaction between an organization and a customer over the duration of their relationship. This interaction is made up of three parts:
1) The customer journey.
2) The brand touchpoints the customer interacts with.
3) The environments the customer experiences during their interaction.
A Walker study showed that by the end of 2020, customer experience will overtake price and product as the key brand differentiator. 86% of buyers will pay more for a better customer experience.
Forbes.com wrote: companies with a customer experience mindset will drive revenue 4-8% higher than the rest of their industries. Lastly, 84% of companies that work to improve their customer experience report an increase in their revenue.
Simply put, focusing on exceptional customer experience is just better business.
However, how does your organization be the best and compete amongst your competitors? You must have exceptional employees, hiring and retaining top performers, you must invest and provide an employee-centric culture.
“An employee-centric culture is an environment where ideas, creativity, free-flowing communication and innovation are encouraged throughout an organization. Employees in a centric company culture feel safe to make suggestions and challenge the inner working as they may feel are interfering with productivity and performance.”Business.com
There are many benefits of having an employee-centric culture, this includes:
1) Increased productivity.
2) An engaged workforce that has a stake in and takes pride in the business.
3) Less turn-over.
4) Increase in top performers.
Additionally, and one could say most importantly, companies who focus on their employees first will attract top talent. Employees who feel valued will invest in the company and outperform.
Bottom-line, if you are planning to compete in the market by Customer Experience than you MUST start with your employees first. Invest in giving your employees a centric company culture, and they in turn will provide exceptional Customer Experience (CX) to better your business.
Tracy Arno, CEO