What is CX?

The idea of Customer Experience (CX) as a business strategy has strong roots over the past 25 years. And the rise in CX continues to be strong according to Harvard Business Review, Gartner, Forrester, and PWC. However, with the rise in discussions about Customer Experience, there has also been a rise in misunderstanding about CX, how a company can be successful through CX management, and the benefits that a company can expect from CX done right. CXPA interviewed an international panel of CX practitioners, consultants, and academics to provide this independent, platform-agnostic introduction to CX.
Customer Experience (CX)
refers to
the perception that customers have of an organization
- one that is formed based on interactions across all touchpoints, people, and technology over time. 
CX Management
is
the set of practices that an organization employs to meet (or exceed) customers’ expectations.

True CX management incorporates four key interrelated elements:

A Culture of Customer-Centricity
Every aspect of the corporate culture – from the top-down is focused on the customer.

  • Leadership has a shared vision.
  • CX strategy is linked to corporate strategy.
  • Brings the customer to the boardroom table.
  • C-Suite understands what customers care about and builds the company around their wants.
  • Customers' well-being is #1
  • Employees are engaged and mobilized around the customer.

The Realization of the Rewards
Every customer experience gain contributes to positive business performance outcomes.

Financial

  • ROI, ROE, and CLV
  • Revenue and Profit
  • Cost savings
  • Stock value

Social

  • Positive word-of-mouth
  • Uplifted reputation
  • Improved legacy
  • Admirable growth
Operational
  • Competitive advantage
  • Customer loyalty and retention
  • Smarter resource expansion
  • Effective, efficient operations
  • Greater customer acquisition

Organizational

  • Happier employees
  • Employee loyalty
  • Organizational alignment
  • Workplace of choice

Holistic Alignment of Systems and Structures
Every department and employee is united in the quest for customer experience excellence.

  • Cross-functional departments are connected to create frictionless experience..
  • Issues are prevented rather than fixed.
  • Gaps are closed.
  • Employees are involved and recognized.
  • Employees have the tools and resources they need to deliver the customer experience
  • Employees gain skills necessary for CX competency.
  • Employees are treated like customers.

Evolution Of Business Practices Through a Focus on Customer Needs and Engagement
Every thought and action is meaningful, making customers’ lives better and showing you care.

  • Business processes are built and updated based on understanding and responding to customer needs.
  • Customers are heard and responded to with empathy.
  • Customers experience fewer hassles and consistent journeys.
  • Customers engage as brand allies.
  • Experiences deliver on expectations and strive to surprise and delight.

Choosing Resources to Strengthen Your CX Initiative

With so many options available, choosing the right resources to advance the success of your organization CX initiative is a significant decision as you are certain to invest time, money, energy, and attention – all extremely valuable resources. We have addressed common questions in this article to help you make better-informed decisions when selecting resources to strengthen your CX practice.

CX as a Strategy for Resilience

The best path to sustainable business success is to provide an experience that meets or exceeds the expectation of your customers. This is even more important in our current environment as customers seek reliable, dependable return on their investments of time and money.  We’ve asked internationally recognized Customer Experience (CX) experts to create actionable guidance to help you make better immediate decisions that balance short-term considerations with long-term resiliency and success.  Get advice at www.CXBuildsResilience.com