Customer experience (CX) is about to be radically reimagined, says PwC report Changing the game: The new rules of Customer Experience in the ‘Intelligent Experience Economy’, released earlier this month. Gone are the days when organisations could simply implement a customer relationship management (CRM) tool or measure (but not action) customer feedback. Now, artificial intelligence, mobile and the cloud are combining to transform the customer experience.
This infographic below (click to enlarge) outlines the five major tenets of the report, which organisations need to adhere to in order to thrive in this new era.
- While many customer experience projects to date have involved small tweaks to process, the intelligent experience economy requires businesses to make the customer journey their new value chain. This means reshaping the organisation around it, from its ways of working to its operating model.
- Organisations have made strong progress in measuring key touchpoints along the customer journey. Most organisations have some form of voice-of-customer program. This is really just table stakes today. In order to master customer experience management, we need to understand and measure the connected customer journey, which is the manifestation of many touchpoints across several channels.
- Many organisations have embraced innovation hubs or similar concepts as a way of innovating the customer experience. Whilst this is an important piece of the puzzle, it isn’t sufficient to make lasting impact across a big, complex organisation. The key to success lies in igniting the core of the organisation: making sure all employees – not just those on the frontline – are aligned to customers and understand the critical role they play in the customer journey.
- Fourth, analytics needs to come ‘out of the shadows’, shifting from reporting, predictive models and segmentation capabilities – all of which are important – to a new reality where experiences are shaped not by the mere existence an organisation having digital communications, but through creating new levels of value to the customer, powered by AI.
- Finally, the intelligent experience economy will require a different type of chief customer officer function within an organisation. Most CCOs play the role of the advocate – evangelising the importance of the customer within the organisation and being equipped with tools to measure the existing customer experience. CCOs that will thrive in this new era will be responsible for delivering new customer experiences into the market.
This next era of CX will be challenging, but following these rules will enable your organisation to be faster, quicker and smarter. Your customers will thank you.
In August 2017, PwC released Changing the game: The new rules of Customer Experience in the Intelligent Experience Economy, which contains insights on executing customer strategy. Click here download your copy.