Live in the Momentum
We talk a lot about change at ForeSee.
The customer has evolved through the years. The technology they use has advanced. The way they communicate with friends, family, colleagues, and companies isn’t the same as it used to be. No longer tethered to location, consumers can shop anywhere at any time and express their opinions about those experiences at will.
They are multi-channel-, multi-device-using wunderkinds that hold all the control in today’s marketplace and suffer little consequence for jumping from company to company. In many cases, they are actually rewarded by finding better experiences.
As a contributing factor to and as a result of these changes, consumers’ expectations, wants, and needs have and will continue to evolve and do so at an incredible speed that will have an immense impact on your company in one way or another. And you can’t sit back and watch your customers (and competitors) pass you by.
Therein lays the real problem. It’s not the customer that’s the problem. It’s not technology.
It is the company.
What we see way too often are businesses simply living in the moment – resting on their laurels. Company leaders find something (a strategy, sale, measurement, ANYTHING) that appears to work in this chaotic business world we live in today and they stick with it and continue as though all is right in the world.
While we completely understand this, we don’t necessarily condone it. Living in the moment sounds great (you’re living to the fullest, making the most of a situation). Right? What can be wrong with that? We see a moment as a stagnant interval of time. And standing still (especially in business) can be quite reckless because you are living with little (or no) regard for the future. As business leaders we cannot take our eye off the future.
Change is inevitable and constant and moves at a fierce velocity. Conversely, your company should always be moving forward. Therefore, you need to live in the momentum not the moment. Momentum is motion, continuous. Moment is standstill.
The first thing you need to do is change how you view your company. Just because today’s customers are multi-channel, multi-device, doesn’t mean that’s how they view your brand. They don’t see a company as Company X Store, Company X Website, and Company X Mobile. And that’s not how you should view your organization either. Your customers see Company X. Period. So should you.
It’s no longer about multi-channel, multi-device, omni-channel, or merge-channel (or whatever the newest industry term might be) either. It’s not about the mobile channel or web or store or contact center either. To be honest, it never really was. This is about one company, one brand.
Secondly, we can no longer rely on just one number such as NPS, WoMI, satisfaction, audience measurement, customer effort, or internal business metrics such as financial and marketing or behavioral data to paint a complete picture of the customer.
As much as there needs to be a convergence of business silos within your company, so must there be an integration of the metrics used to measure customer experiences with your company. We as an industry and you as a company must move toward a new generation – the next generation – of customer experience analytics.
Next Generation Customer Experience Analytics should incorporate both internal and external metrics in a way that is accurate, actionable, and predictive. The benefits of such a comprehensive system would:
- Give you a holistic understanding of channel impact on the customer’s total relationship with the company
- Identify which channels are strengths or weaknesses
- Pinpoint which levers to pull in order to increase sales, loyalty, and recommendations across all channels
- Help you make more informed strategic, operational, and tactical decisions
- Elevate relevant analysis to the C-Suite
The complexity of today’s world calls for an integrated system of customer experience analytics tools with predictive capabilities. Such a system will allow you to not just move with the changes occurring around you, or keep pace with it, but to stay ahead of and measure it so you can make the right decisions that will lead you in building a company that your customers want and deserve. That’s how you make a difference. That’s how you succeed.