In the C-suite, there's general consensus that competing on Customer Experience (CX) is a fundamental pillar of the way we do business today and going forward.
For the vast majority of F1000 companies that have come to that conclusion, the next question(s) by the business folks are typically:
- "So what exactly does that all mean?"
- "How do we 'invest in the Customer Experience' and know that we're doing it the right way?"
- "What kind of return should we expect and over what period of time?"
To answer those questions and many more, we created Return on Experience (RoX).
RoX is a framework and methodology to operationalize “Competing on Customer Experience” to unlock significant growth, innovation and resulting ROI.
We aggregate the client data associated with every customer touchpoint – digital, analog + hybrid – to create a baseline score (current state) of how a company is doing in meeting its customers’ expectations, needs and wants.
We then size the market opportunity for tangible growth by cross referencing the RoX score vs industry benchmarks and aspirational standards (hello Big Tech with your lovely, digitally native customer experiences) and identify the 3-5 levers to increase your RoX score and unlock real ROI. Net new customer acquisition, increase in accounts per customer, reduction in churn, reduction in operating expenses etc.
Creating an expectation of where we can move the score in a defined period of time (future state) by achieving specific outcomes tied to the benefits above.
In doing so, we frame the roadmap, feedback loop and provide on-ramps to crawl, walk, run into Marketing Transformation and/or Business Transformation.
Last but certainly not least, we apply our Creativity and Technology expertise to execute. Moving your RoX score from “Current State” --> “Future State” and generating the associated ROI along the way.
We don't just "think", we "do".
Realizing the potential and the promise of “Digital Transformation” with results that literally impact your stock price.
“RoX for Stocks”. Literally.
Also, for those that aren’t yet sold on the “Competing on Customer Experience” thing just yet, here are 3 quotes to keep in mind:
- "Companies will increasingly win or lose on the battleground of customer experience. To win, you need actionable CX insights that allow you to prioritize investments that will continuously improve your customers' experiences." (Forrester CX Index)
- "Get closer than ever to your customers. So close that you tell them what they need well before they realize it themselves." (Steve Jobs)
- "I think it's very important to have feedback loop, where you're constantly thinking about what you've done and how you could be doing it better." (Elon Musk)
E: Alec.email@example.com; T/IG: @Alec_Coughlin