By Samiur Rahman, Blogger, Lava Protocols
Two Sides to A Story
It is Monday morning and Alex has to wake up to go to his work – a reputed coffee shop franchise operating in Malaysia. He has a pet cat named “Muffin” and she is not doing so well lately. Last night, she actually struggled to hop on the bed even though she is one of the most energetic and jolly pets Alex has ever seen. Alex emailed and called his boss about skipping the day and taking care of his pet but alas, the boss denied it because it was going to be a busy day at the cafe. While commuting to work, he faces a minor accident because of the carelessness of his ride-sharing car driver. Alex is late to work. His boss does not ask him why he is late but gives him a look of disappointment. Alex starts serving coffee to the customers and while doing so, suggests to one of his seniors how he feels that they can improve the customer experience. The senior employee does not pay heed to him and tells him to follow the winning formula instead. Alex, agitated, felt like the company could work on empowering its employees.
Sarah, a newly graduated marketing student, drops by that particular coffee shop before heading for her work at an agency. Sarah realizes that she is late for work and gets ready as fast as she can. Keeping a few minutes in hand, she decides to drop by the cafe to grab a cup of frappuccino. Sarah encounters Alex and feels like he did not give her a warm welcome. Furthermore, once she takes the first sip of the coffee, she feels like the coffee does not taste how it normally does. Upon reaching her workplace, she gets a notification asking her to rate the coffee shop she visited. Rethinking about her experience as a customer, she winds up believing that the business’s services have dropped in quality and decides to give it 3 stars only.
The Research
It is very evident that boundary spanners play a very important role in ensuring a good customer experience (CX). But how can we make sure that the service is as good as it should be? Make sure there is a positive employee experience (EX). According to one of the multifaceted research conducted by Forbes, the following findings were made:
- Revenue growth is linked to high EX, regardless of CX prioritization. Companies that have both high EX and CX see almost double the revenue growth as those that do not.
- 70% of executives agree that improved EX leads to improved CX, which in turn leads to rapid revenue growth.
- 52% of executives disagree that fast revenue growth leads to high EX. There is no “virtuous circle.”
- EX and CX leaders disagree on the biggest obstacle to improving CX and EX. Forty-one percent of CX leaders say the main problem is a lack of shared senior management vision. Forty-three percent of EX leaders say employees are resisting cultural change.
- 40% of executives say that creating teams that combine EX and CX skills is the best way to overcome cultural obstacles.
The Answer
Given that CX and EX are intertwined and result in garnering more revenue if balanced effectively, here are a few pointers for companies to keep in mind when trying to achieve that:
1. Give your company the STRONG LEADERSHIP AND VISION it deserves
In order to build sustainable growth, senior management must support and inspire change. However, there has been an ages-long debate on who to point the finger at in this regard. While 36% of the executives believe that the employees are reluctant to culturally change, almost as many have the same perception about senior leaders. The research further states that organizations find it difficult to have a common goal because they fail to align the vision of EX and CX. The company has to align the purpose within the employees so that a stronger culture can be built to align CX and EX to a unified goal.
2. Combine operations and IT strategy to emphasize CX
Nearly half of the executives surveyed believe that the pandemic is contributing to a profound reassessment of how the customer experience can be enhanced. During the next three years, more executives would put a greater strategic focus on CX than on EX. However, this prioritization could hamper their ability to rapidly expand. It is important to establish the perfect balance, and technical approaches can help enterprises enhance CX and EX. But even if goals change, executives need to realize that they need to enhance EX in order to enhance CX.
3. Encourage cross-functional teams to improve both CX and EX
When a corporation focuses on one or the other or sets opposing goals in effect, the greatest corporate barrier to enhancing CX and EX arises. Every worker needs a clear line of view as to how their positions play a part in improving customer and employee experiences in order to avoid that. To create organizational unity and demonstrate the advantages of bridging the gap, EX- and CX-critical positions need to cooperate further. One of the key ways to solve organizational challenges is to build a few shared metrics, such as those we used in this study, or others, such as churn rates, purchase recency, or product acceptance breadth.
4. Fund technologies and evaluate CX and EX
There are 900 applications for the average business, and only 28% are incorporated at present. Companies still run in silos and make investments that are not inherently vital to the day-to-day work of the workforce. The fact is that, both in B2B and B2C organizations, customer requirements are rising. Customers take the encounters they had with other firms, sometimes in totally different markets, and search across the board for the same degree of excellence. The experiences of workers are getting more deeply intertwined between their personal and professional lives. To create employee experiences, building customer experiences can contribute according to research insights. Such analysis offers insightful information that lets executives realize the conditions that influence the sentiment of both customers and employees.
Yes, You Can.
Even though your customers are kings, your employees are the crown of the kings. They make sure that your customers are satisfied and it is imperative that they remain content in order to keep this process sustainable. Keeping the aforementioned pointers in mind, perhaps it is time for your business to look into areas of improvement and see your revenue chart take its ideal form.
Lava Protocols is an authorized Salesforce Partner. Want to improve your Customer Experience? Drop us an email to schedule your demo: hello@lavaprotocols.com.