In an article published by Harvard Business Review, Lisa Nirell discusses common mistakes that companies are making in their customer experience (CX) strategies post-pandemic and provides recommendations for how to address them.
(Image Source)
GLOIn an article published by Harvard Business Review, Lisa Nirell discusses common mistakes that companies are making in their customer experience (CX) strategies post-pandemic and provides recommendations for how to address them. She argues that many companies are still relying on digital CX strategies that they used pre-pandemic, which may not be effective in the current customer landscape.
The first mistake that companies are making is prioritizing cost management at the expense of strategic investment. Nirell states that while it may be tempting to focus on boosting the balance sheet during uncertain times, this approach leaves companies vulnerable to competitors who focus on improving customer-facing value. She gives an example of a profitable company that experienced a six-month stock price dip and froze all new marketing initiatives, missing an opportunity to invest in identifying new customer segments and experimenting with new CX programs.
The second mistake is relying on old segmentation strategies. The report argues that companies need to take into account customers’ desire to understand a company’s stance on diversity, equity, and inclusion, climate change, and other social issues. Nirell suggests that companies should conduct values research or schedule one-on-one conversations to understand what their ideal audience cares about.
The third mistake is treating employee experience (EX) and customer experience (CX) as separate silos. Nirell argues that companies need to design a seamless integration between their customer experience and employee experience initiatives to avoid costly attrition of top people, too many priorities, and team burnout.
To address these CX challenges, the author provides several recommendations. Firstly, Nirell suggests that CX leaders should craft CFO discussions around value creation, not just expense reduction. Secondly, she recommends integrating customer values research into traditional segmentation exercises. Finally, that companies should integrate their customer experience and employee experience initiatives to achieve better results.
read article here.
