Vision: World Class Customer Experience: - Delivered at Scale - Results at Digital Speed - Exceed ROI
Innovate the EXperience Platform
Companies in all industries, and sizes spend a significant amount of their budgets on technology and business processes to make it easy for their customers to do business with them. This is known as Customer Experience (CX).
This investment is required to attract, compete and keep customers returning. The fact is, most companies don't achieve the goal of giving their customers a simplified experience. The intersection of complexity and necessity results in a continuous spending loop, where regardless of the results, the money keeps pouring in, to no avail.
Why do most companies fail to provide a great experience to customers, employees, partners,? The reasons are surprisingly not complex. It’s not technology, there’s more technology, data and digital products to enable good experience than ever before and growing daily. The failures come down to leadership, strategy and execution of the organization to deliver a "Customer First" culture.
If your business is suffering from these common issues, you're in the right place. Read further to explore and learn how to take effective action.
How do companies achieve success and avoid the failure pitfalls so many make?
Experience
Economy
Interacting with customers is complicated with high expectations to deliver on their terms
Experience is the sediment felt by the interaction of every step in the customer journey.
It’s a complicated endeavor, getting it right separates the successful from the doomed
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What is considered a great experience in today’s digital marketplace and why is it important? When doing business with a company, at any point across the customer journey, the experience is an evaluation of how easy and satisfied a consumer feels at every interaction.
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A bad interaction early in the journey will cause a potential customer to look elsewhere and a bad one later in the journey will cause them to never return or even worse, be a detractor. The experience will make or break a company, it’s that simple.
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The experience a customer or partner has dealing with you, drives your company’s reputation in the marketplace. For obvious reasons,a business must get this right.
A 2023 study from Adobe found: 86% of consumers say they’re willing to pay more to receive a superior customer experience. And 64% are more likely to recommend your brand if they have a great experience, leading to increased referral business and higher return on investment.
https://business.adobe.com/blog/basics/what-is-customer-experience
Watermark completed a Cx ROI study and found leaders in CX had significantly higher returns than both the Laggards and the average S&P 500 Index.
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The CX Laggards had a cumulative return of 63.1%
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The S&P 500 Index had a cumulative return of 138.7%
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The CX Leaders had a cumulative return of 183.3%
https://www.second-to-none.com/illustrating-roi-of-customer-service/
Companies invest significant resources to achieve a great reputation in the eyes of their customers, most fall short.
It’s “Mission Critical” to provide customer a good experience and build a great reputation
Companies of all sizes and types are spending millions of $ to connect with customers to not only do business, but make it easy to do business with. This is known as the customer experience. The global customer experience management market is projected to grow from $16.91 billion in 2023 to $52.54 billion by 2030, exhibiting a CAGR of 16.6%
Companies have no choice but to accelerate and grow this investment. Without a good customer experience, a successful reputation is nearly impossible. You’re doomed to the competition without it, it’s only a matter of time.
The omnichannel digital age has created endless possibilities to deliver a seamless experience throughout the experience journey. This has also raised the bar on customer expectations to deliver and made them less forgiving when it’s not delivered.
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In spite of these massive investments, companies are still failing to deliver the experiences expected by customers, partners and employees. Some get it right, think of American Express, and Amazon. However, most fail to hit the mark and see poor NPS scores, reviews and surveys along with declining revenues as they lose to the competition.
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A 2023 Forbes found; 74% of Americans report product or service problems in the last year—nearly double since 1976?
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A June, 2023 study from Customer Contact Week Digital showed that 57% of customers surveyed thought that customer service had gotten worse in the last year, with a quarter of all respondents saying it had become much worse.
Path to Success
Achieving a great reputation for customer satisfaction is not easy, It’s complicated to get the pieces of an organization aligned to a North Star. This is challenging in a world where technology and customer expectations change daily.
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Why do companies continue to fail in delivering great CX and customer service considering the large investments? In today’s world, the people, processes and technology that make up a business of any size are complicated, so the answer itself becomes complicated.
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For simplicity, it boils down to how a company develops and communicates a Cx Strategy and implements it’s Org Structure responsible and accountable to deliver it. If these are done right, the other required components of Technology, Processes, Tools, Data and Operations can fall into place much easier to achieve the intended results.
Delivering the level of expected experience requires strategic alignment across all business functions; Marketing, Sales, Supply Chain, Technology and Operations. Technology connects them, but without strategic focus and organizational structure, multiple failure points cause the experience chain to come undone. Most companies are structured in functional silos and become proficient in one or more areas never reaching end to end alignment, this is why most fail to deliver on customer expectations
Meet IXP
Tailored Digital Solutions
Effective Strategies that meet the customer needs at every stage of their journey
Customized
Digital Services
IXP provides personalized digital strategies and solutions that cater to your customers' unique needs connecting each micro moment.
Strategic
Data Driven - Best of Breed
Our proprietary process captures internal and external data to determine your strategy. This data driven approach optimizes investment in the things that matter to their customers
Innovative
Strategic Approach
IXP provides a customer focused view across Organization, Strategy, Process, Culture and Technology. This holistic view enables them to work towards a common goal, delivering a world class experience .
Expertise
Experienced Team
From Web/Mobile, eCommerce and Contact Centers to all digital channels. We are committed to building and delivering a strategy focusing on customer needs at every stage of your digital experience transformation.