Customers know your company best - minimising business risk with CX
If the field of Customer Experience Management (CEM) tells us anything, it's that nobody knows your business like your customers do.
Much like how an author's work isn't complete until it is read, companies must accept that it is the customers who determine the the value of your products and services, and whether or not their experience is a good one.
The perception senior executives have of customer priorities can be strikingly diverse. Even internally, companies experience discord. In April 2013 the Economist Intelligence Report stated that 78%of manufacturing CMOs claimed they had a clear understanding of their customers’ needs, but just 47% of their executive peers agreed with this assessment.
Building a client-centric culture that actions customer feedback is recognised as one of the single best ways to learn exactly what matters to customers and future-proof your operations. Those resistant to prioritising Customer Experience say that delighting customers at any cost is not a sustainable competitive approach- and they’re right- but this is not what a CX programme is for.
The goal is not to fulfil every customer demand but to be able to confidently state which areas are of most importance to your customers when they are making decisions to purchase.
A customer’s perception of your company changes not only according to the service they receive, but also in relation to the way the market changes around you. Finding ways to meet the evolving needs of your customers is already the mission of your ambitious rivals– it must be your mission too.