What is CXO? CXO stands for Customer eXperience Optimization. There are two main areas CXO are divided into. The first is customer-facing assets like front-liners, sales people or customer service representatives. The second is non-customer facing assets like your supply chain, partners, and item processing.
Basically, it’s everything that comes into contact with the customer before, while, and after purchase.
Today’s forward-thinking companies are customer-centric from the very top of the organization. They work to put customer experience into their DNA where it is not originally.
A satisfied customer is a brand ambassador; a loyal customer loves to buy from you and will be open to cross-purchases. What’s more, opening up to CXO enhances your company’s internal processes, telling you what can’t be seen from internal surveys. Thorough CXO has a fantastic impact across different dimensions of your business.
A major facet of CXO is CEM, or Customer Experience Measurement. CEM is not your old-fashioned mystery shopper exercise, which only scratches the surface of customer service. CEM integrates the processes and metrics of Human Resources, Sales and Marketing, and, of course, customer service and research.
Using CEM provides insight into where your front-liners could do better: being more sensitive to customer needs, seizing opportunities to upsell or suggest other products, or adapting to supply issues, customer complaints, and technical failures.
The essential benefit of CXO is on your bottom line. Apply it thoroughly and you can count on the following:
1. Higher brand equity as you move from selling products to selling an experience
2. Greater loyalty and more positive mentions online, leading to lower marketing costs
3. Bigger cross-sales and better ROI per customer
4. More positive, satisfied staff, which leads to lower training and HR cost
5. Reduced friction and cost within your organization and between suppliers
CXO is far-reaching in how it influences your business for the better.
For more on how to implement CEM in your business, you may leave a comment below. MP:)
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