Guest Blog by David Liu, Founder, and CEO of Deltapath
Measuring customer experience (CX) simply seems like the best course of action and the “right thing to do” as a follow-up with valued customers. Everyone wants to know what pleases customers and what drives them to remain loyal to a brand.
Consider the fact that customers who had the best experience went on to spend 140 percent more than those who had a bad or not-so-great experience, and it’s easy to see that CX has quickly become a driving revenue force.
Recently we had the pleasure to work with Air Asia, a leading low-cost carrier (LCC) in Asia to improve its contact centre operations with the use of our enterprise technology. Being in the LCC business, increasing efficiency is key to success. The airline wanted to set itself apart by going beyond what customers typically expect from most LCC’s. It was imperative that no time is spent looking up customer information so agents could immediately greet customers with a personalised greeting, along with call history and any other applicable information at the agents finger-tips.
The matrix is evident when considering Air Asia receives about 2,000 calls per day at their hotlines. By integrating our system with their Salesforce.com solution, we helped to reduce its average duration per call significantly by at least 1 minute per call which translates to 33 man hours per day, allowing them to serve more customers with the same human resources and reduce customer waiting time in queue.
Having a high CX score not only helps with improved revenue but if driven by the right communication technology, it also means your bottom line improves as a result.
Businesses that are ready to take a more revenue-focused approach to measure CX will find a bounty of crucial information that ultimately results in the quantifiable and highly informational Forrester CX Index score.
Once the CX Index is calculated on an individual basis, it is then used to analyze its relationship to revenue throughout the entire range of CX Index scores. Organisations can then use the results to develop models to indicate the subtleties of how CX drives revenue in their respective industry.
Following are the core components of the CX Index:
There are a variety of models used to discover data uncovered in the CX Index in relation to revenue potential–the three primary models are as follows:
For each of these models, naturally, it would make sense to eliminate bad CX as much as possible. Brands whose CX Index result in a linear relationship between revenue and CX, for example, may focus on improving the experiences influencing the largest number of customers. An exponential shape may indicate the need to provide as many exceptional experiences possible for customers.
Business leaders looking for practical ways to improve CX may take a look at the following factors:
It should come at no surprise that efforts to improve CX result in reduced costs in customer service and increased revenue. However, many organisational leaders still worry that the cost of improving customer care may become prohibitive. Contrary to that idea, business leaders continue to report that delivering great experiences reduce costs. Sprint Mobile has gone on record to share that its focus on improving CX has reduced its customer care costs by as much as 33 percent.
Guest Blog by David Liu, Founder, and CEO of Deltapath
David Liu is the founder and CEO of Deltapath, a leading communications company whose innovative technology helps businesses collaborate internally and with customers in a work culture that increasingly revolves around smartphones and other personal devices. Under Liu’s leadership, Deltapath’s solutions have been adopted by brands such as Campbell’s, Volkswagen and Nokia in 94 countries.