Losing a single customer means losing anything between 5-6 times the current annual revenue of that customer, according to Forrester Research. However, proving CX ROI can be challenging due a myriad of changing constituent parts and people. Commercially robust methods such as; business casing, profit modelling and measurement frameworks quantify CX efforts and link their value to ROI.
Large consultancies can generate high-level ‘motherhood’ statements which are labelled as insights. These can be difficult to translate into useful information that guide teams on what to do. Proto uncover the why that opens up the how so internal staff are equipped with exactly how, when and where to use insights to improve the customers’ experience.
The impact of your results will depend on the Customer Experience (CX) maturity of your organisation and how much time and resource you are able to invest. There are three phases to CX transformation; Design, Enable and Scale. The CX journey may take up to 5 years to achieve ‘Best in Class’, however our Growth Driven Design methodology ensures organisations are also able to see results in weeks and months.
Investing in CX initiatives has the potential to double your revenue within 36 months - which puts the investment of CX into perspective. Profit modelling can also help organisations understand where they can recoup cost to invest in Customer Experience. Project scope will vary dramatically depending on the organisations individual requirements, however, we apply the 80/20 rule to focus spend and resource on what will deliver the most value for the business and customer.
Many organisations confuse a ‘seamless customer experience’ with the need for a new app or platform. Technology can of course improve experience when it is customer informed; but it isn’t required to deliver outstanding CX. Tech and automation can save cost in the short term, but the human interaction it replaces can also be what drives the most value and loyalty in the long-term. Most importantly, the solution must be customer-led and and open to evolve with the changing needs of the customer.
Customer Experience and Service Design takes a holistic view of the customers end-to-end experience surrounding an product, service or organisation - before, during and after they become a customer. UX focuses on individual user interactions at specific moments or touchpoints in their journey. UX is essentially a subset of CX and whilst there is overlap, it is important to begin with a birds-eye view of the organisations eco-system before diving into the details.
Exisiting customer data and customer feedback (NPS or CSAT) must be acted upon with urgency and importance to ensure improvements are reflective of your current customers’ experience. Your existing data and research should be used to bolster customer research - saving time and money on your CX project. Vast amounts of raw customer data are often collected by organisations, however, not often synthesised into actionable insights that deliver value back to the customer and business.
Whilst the success of CX greatly relies upon internal teams delivery of improved customer experiences; an outside-in approach is required to understand what experiences customers’ deem valuable. An external CX role can also provide anonymity that uncovers underlying truths to internal challenges, without retribution. Further, an unbiased perspective with no stake in the outcome other than its success allows design truly informed by research.
To increase trust, alignment and engagement on CX Projects our research, interviews and collaborative workshops are often conducted in-person. We tailor our immersive research process to what we believe will deliver the most value for our clients and their customers. Many of our clients are located across Sydney, Melbourne, Brisbane. We are flexible, transparent and highly responsive to ensure distance doesn’t impact results.
Whilst quantitative data can be helpful in indicating high-level problem areas, it doesn’t tell you why the problem is occurring - and therefore how it can be solved. Qualitative research unpacks your customers’ underlying experiences by placing their responses (verbatim) and reactions (emotions) within the context of their overarching needs to help organisations understand and solve problem root cause.