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Customer experience (CX) is rapidly becoming the key battleground and differentiation point for brands. It will overtake price and product as the key brand differentiator in a changing business world impacted by disruption at every turn. Australia’s Engaged Marketing concur. Their benchmarking studies have consistently found that positive Word-of-Mouth (WOM) is four times more powerful than TV advertising. And what creates positive WOM – great customer experiences. In today’s disruptive business battleground, it stands to reason that a well developed and managed CX program can help organisations create experiences worthy of recommendation to not just retain their existing clients, but also increase share of wallet, acquire new clients and reduce operational costs.
Implementing a successful CX program is not easy. A recent study indicated that a staggering 81 per cent of organisations have seen their Customer Experience Management (CXM) initiatives fail in the last three years.
To manage this risk, strategic consulting firm Engaged Marketing recommends a holistic CX view. Their proprietary Total Engagement Model® (TEM) helps companies align who they are (culture), what they do (customer experience) and what they say (brand communication) based on their uniquely defined customer value proposition.
Christopher Roberts, the Managing Director of Engaged Marketing, explains the rationale behind their consultancy model. “Too often promises made in advertising are not met with actual customer experiences. Consistently good or bad customer experiences are a direct reflection of the internal culture."
Figure 1.0 Total Engagement Model
Customer sentiment is critical. “The secret of great experiences is how you make your customers feel emotionally. Because this is typically delivered by staff, a key point to remember is that you can automate many things but if a staff member does not feel valued and cared for, they cannot make customers feel valued and cared for. The positive emotional transference from employees to customers is the ultimate secret of loyalty leaders,” Mr Roberts explains.
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