The Quest For Customer Centricity – Your Customer Experience Measurement Framework

2020-04-29| Neil Sharp

There’s no denying it: your customers are more powerful than ever.

With ever-increasing access to information, constantly widening choice, and opportunities to share their experiences further than ever, your customers can make or break your business.

Today’s customers know they have options, and as the competition for their business increases, you need to find a way to differentiate.

Many companies start at price. But focusing on cost alone often isn’t enough. As many of the world’s most successful businesses have shown, you also need to look the other way and focus on improving your customer experience (CX).

Research* shows that customer-centric organisations – those organisations that successfully build CX into the heart of their business – deliver higher revenues, bigger profits, better shareholder returns and faster growth over the long term.

This is because customers who have a positive experience are:

  • More likely to buy from you again
  • More likely to try your new product or service
  • More likely to forgive you for making a mistake
  • More likely to tell their friends something good about you

To help you achieve all of the above we created this blog series – to guide you through the CX Measurement Framework we use when helping organisations become more customer-centric.


How is customer centricity any different to what I’m doing now?

Customer-centric organisations put their customer, not their bottom line, at the heart of their business. They focus on creating positive experiences for customers at every interaction with them. They work hard to craft an experience that turns fair weather customers into die-hard advocates.

They operate differently to other organisations. They listen to their customers and act on what they hear. They measure the experiences their customers have, and then use the insight to improve the products and services they offer.

Customer-centric organisations understand the secret that many don’t - that by focusing on their customers and going out of their way to deliver great CX, they actually improve their bottom line, not reduce it.

Regardless of the market you’re in, a focus on customer experience should be a non-negotiable element of your business strategy.


But where do I start?

With customers interacting with you at so many different touchpoints, you need a structured approach to find out what's working well, what they've found challenging, and what opportunities there are to enhance their experience. In other words, you need a solid way to measure CX.

At PEN, we follow our very own CX measurement framework, a tried and tested approach we’ve used across multiple industries.

It’s a simple, practical and effective 4-step guide to help you listen to your customers and make the right changes to satisfy their needs, as well as the needs of your business. 

In its simplest terms, this framework gives you a way to listen to your customers and make business decisions based on real insight.

It helps you know what your customers want, rather than assuming you know best, or worse still, having no consideration for their preferences at all.

With this being a complete framework, you need to go through all four stages if you want to transform your approach to your customers – stopping short is unlikely to deliver the outcomes you need.

Now that you know what our framework is and how it can help you, the next part is working through each of the four stages involved.

Over the next four weeks, we’ll be sharing everything you need to know about each stage. Week by week, we’ll explain what you need to do, giving you a week to put it in to practice before we move onto the next stage.

In next week’s blog, we’ll explain the first stage of our CX framework, which is about identifying all of your customer touchpoints and choosing the right CX metrics.

If you can’t wait that long and want to get started right away, then you can download our eBook, which walks you through the entire CX measurement framework and covers everything you need to know to help your business become customer-centric.

References:

*https://www.watermarkconsult.net/wp-content/uploads/2019/01/Watermark-Consulting-2019-Customer-Experience-ROI-Study.pdf

*https://go.forrester.com/wp-content/uploads/Forrester-Data_Better-Customer-Experience-Higher-Revenue-Growth.pdf

*https://go.forrester.com/blogs/16-06-21-customer_experience_drives_revenue_growth_2016/