DIGITAL FIRST™ BUSINESS

Companies are investing billions on improving the customer experience.

CUSTOMER EXPERIENCE IS A PERCEPTION

What is customer experience, and why is it so important? From a business perspective, CX is tangible, practical, and measurable. Customer experience is Customers' perceptions of their interactions with a brand. Forbes Magazine quotes "Customer Experience is your New Brand".There are three dimensions to these perceptions — the measurable components of an experience that drives Customer Loyalty.

Emotion

Emotion

Forrester's CX Index proves that emotion is the strongest driver of customer retention, enrichment, and advocacy. For example, when a company makes customers feel appreciated, 76% indicate they'll keep their business with the brand, 80% say they will spend more with the brand, and 87% will recommend the brand to friends and family members.

EASE

Ease

Easy interactions let customers achieve their goals with minimal effort. When alternative paths to value are harder, ease of doing business creates competitive advantage. For example, digital music players didn't catch on at first because it was hard to get music onto them. See the example of Apple with iTunes model reaching US$2 Trillion market cap.

EFFECTIVENESS

Effectiveness

The product or service must deliver value to customers or the experience will fail fundamentally. The car must start and run, the electronic bill payment must go through to the recipient, and the shipped package must arrive at its intended location on time and undamaged. Effectiveness is critical even though it's less likely to drive customer loyalty than emotion.

CX QUALITY DEPENDS ON ECOSYSTEM

Every Organization is part of the universal CX Ecosystems.Organizations naturally want to take charge of the experiences they deliver. Unfortunately, that's very hard to do because companies, non-profits, and even governments can't fully control their CX. Organizations must understand and shape — as best they can — all three layers of the CX ecosystems.
CX Quality Ecosystem

The CX Leader’s View

Within the next two years, which of the following aspects of your organization’s customer experience will you focus on changing the most?

DRIVERS OF CX IMPROVEMENTS

CX TRANSFORMATION

CX FUNCTIONAL PARTNER COLLABORATION

SOLUTIONS BY FUNCTION
Who drives CX strategy today?
What would CIOs need to do if they want to take a bigger role in supporting CX?
What would CIOs need to do if they want to go further and take a more leading role?

Over 5,000 CX Leaders Out There

50%Reports to the CEO

What’s Involved in Being the Head of CX

Technology Building Block of
Customer Experience Maturity

INDICIAL CX MATURITY
Who drives CX strategy today?
What would CIOs need to do if they want to take a bigger role in supporting CX?
What would CIOs need to do if they want to go further and take a more leading role?

Pressure Increases When You’re “Average”

FIND THE STATE OF CX

The CIO and IT Leader's Supporting CX's Roadmap

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Get a seat on the CX council

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Provide a CX project portfolio

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Help source a VoC solution

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Build the metrics dashboard

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Introduce tools supporting customer journey mapping

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Show what future tech will enable

Real-Time Capability Is Critical for
Future CX Technologies

By 2023, autonomous marketing systems will issue 55% of multichannel marketing messages based on marketer criteria and real-time consumer behavior, resulting in a 25% increase in response rates.
By 2022, more than 10% of customer engagement hub architectures will include real-time event streaming or streaming analytics.
By 2025, the top 10 global retailers by revenue will leverage contextualized real-time pricing, through mobile, to manage and adjust in-store prices for customers.
RAINBOW CXTECH

Real-Time, Always-On Continuous Intelligence
Supports Continuous Experience

Event visibility and context over customer journey

Automate, act and achieve customer experience

Unified messaging across inbound and outbound channels

Human interaction suggestions based on intelligence

ACCESS CXDESK

Increase CX technology investment

Augment application capabilities with AI

Inspect your app strategy to deliver omni-channel, multi-model experience

Embrace continuous intelligence

Who drives CX strategy today?
What would CIOs need to do if they want to take a bigger role in supporting CX?
What would CIOs need to do if they want to go further and take a more leading role?
Digital business transformation is the process of exploiting the latest digital technologies and practices to create a robust new digital business model.

Customer Centricity — Corner Stone of
Digital Transformation

Focal Questions

Utilities

UTILITIES

How will technology innovation change the way energy is sourced, delivered and consumed?

Insurance

Insurance

How to adapt to radical industry changes?

Retail

Retail

Will there be a retail industry beyond 2025?

Oil and Gas

Oil and Gas

How to anticipate and prepare for an unpredictable future?

Manufacturing

Manufacturing

How will manufacturers innovate to drive value?

Government

Government

What role will the government play in society and the economy?

Banking

Banking

What value can BIS firms create in the future — and how can they create it?

CSP

CSP

Will technology and consumer trends force CSPs to collaborate more in the future?

The Choice Is Yours

CX objectives start to impact technology investment decisions
CIOs and IT leaders must support existing initiatives, and propose new initiatives, based on their advanced understanding of digital.

Recommendations — Do You Remember?

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Get a seat on the CX council

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Provide a CX project portfolio

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Help source a VoC solution

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Build the metrics dashboard

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Introduce tools supporting customer journey mapping

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Show what future tech will enable

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Drive CX in digital transformation — near term and long term

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Turn data privacy into trust