LEXDEN's THE RIGHT DIRECTION CUSTOMER EXPERIENCE EFFECTIVENESS AUDIT

LEXDEN's THE RIGHT DIRECTION CUSTOMER EXPERIENCE EFFECTIVENESS AUDIT

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  Are you OptimisingReturns on your Customer Experience Investment effectively? Lexden provides a CX Effectiveness Audit to assess how well structured your CX programme is to optimise your commercial potential from customer experience. From our findings we can advise what the current potential will be and where improvements are needed to achieve greater ambitions. We plot your effectiveness against a maturity curve we call M.A.D. which stands for Maintain, Advantage and Differentiation. Where you sit on this curve indicates the likely ROI you will enjoy from your CX endeavours. In our experience most customer experience programmes preserve or ‘maintaining’ their share of the market with straightforward customer experience improvements. However the ROI at this level is 1.25:1. Whereas companies which achieve ‘differentiating’ customer experience reap rewards of 8:1. It’s often a lack of awareness of CX potential and poor programme structure that inhibit optimising CX ROI. Which is why we have devised a straightforward, low impact audit which can ensure any CX programme is effectively aligned to optimise full potential from CX. Why do Customer Experience Strategies fall short of their potential? Many programmes originate because customers become critical of the experience they receive when engaging with a brand, which damages its reputation and revenues. If responded to well by the company the potential of more profitable customers through enhanced experience takes root and becomes of more interest to the business. Before long everyone is declaring, “We want to be no.1 for customer experience”. Yet whilst 80% of organisations believe they deliver a good customer experience, only 8% of customers agree. With the commitment more time is spent on customer experience and more issues surface. Programmes become structured around fixing the basics first and reducing detractors to improve NPS and costs. But the resource required to improve the broken processes can soon outweigh the capacity to fix them. Priority calls are made often limiting CX to a ‘Level 1’ efficiency drive. Inevitably at this level the CX framework becomes more and more structured around preservation. This includes metrics which impact the type and quality of the improvements. Missing out on CX potential The shortfall of the Level 1 efficiency drive approach is that improvements typically maintain the customer experience. Customers won’t value them, but instead expect them. Improvements have a much lower ROI than those at Level 2 or 3. Level 1 activity is reported as breaking even versus a
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  return of upto up 8 times investment on differentiated experiences evident in companies operating at Level 3. The dilemma is that without the Level 1 basics being fixed customers won’t hang around to enjoy the Level 3 experiences. We describe CX as M.A.D. M | Maintain – level 1 – fixing what’s broken, efficiently A | Advantage – level 2 – improve it to achieve a benefit D | Differentiate – level 3 – uniquely delivered by your brand Fully optimising the return on customer experience investment We recognise CX programmes get stuck at the ‘Maintain’ Level 1. With returns less impressive previous commitment from the business can be challenged. Recognising this, we have devised a NEW audit to assess where your company is in its journey and how much more potential you could be realising from your investment. Lexden’s MAD CX audit is conducted and recommendations reported within two weeks KICK-OFF - Initially we understand what the current ambition of the business is, and the expected return from CX this will deliver. We plot the ‘to be’ ambition on Lexden’s maturity model to show whether further opportunity exists for the business. The audit will measure the current set-up against these two points. This highlights whether you are in good shape or if improvements are needed in your own programme structure to deliver at these levels. PART 1 - We have identified 11 critical business functions which we assess to understand their alignment towards delivering a superior differentiating customer experience. We pose a series of questions which allow us to identify which level your organisation is at and report on this To achieve this we understand what impacts the limitations of a CX strategy. We review your key CX activities and identify critical insights to inform your business how to optimise CX potential. We identify which level your CX is at now and what’s keeping you there: Example areas of attention (over 70 shown in chart above)
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   Understand thebusiness environment CX is operating in and the governance surrounding it  Identify how your employee’s and customer’s value your customer experience activities  Assess the commercial impact of customer experience improvements to date  Assess your achievements comparative to your competitors and your customer’s expectations  Identify the optimum potential for customer experience within the organisation  Highlight activities requiring realignment (people, planning, partners, process, culture) to effectively support revised optimum level potential From here we share how each of the 11 functions is helping or hindering the cause. we measure their contribution against a 5 point maturity scale which we reframe as ‘Maintain’, Advantage’ or ‘Differentiating’ PART 2 – We compare functions highlighting where the biggest gaps are as well as those functions leading the way (see chart below). We pull out the activities of the polarised functions to show what ‘good’ looks like and what behaviours can lead to less effective CX strategic practice. Using our experience and expertise we recommend sequenced actions to lift the CX programme from its current state to the next levels. The final report, structured as a target operating model to make implementation easier, includes a series of recommendations and time line for completion. These are based on our own experiences of creating and improving several blue chip customer experience programmes.
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  Expertly delivered byLexden’s CX professionals Audits require just two weeks notice to schedule, take no more than two weeks to complete, require some on site engagement and involve two of Lexden’s Senior Customer Experience Consultants. Our consultants have worked for and delivered CX programmes for a wide range of blue chips including: Disney, William Hill, Telefonica, npower, Wolters Kluwer, Post Office FS, First Great Western, Park Inn by Radisson, Hiscox & Skytrax. To arrange your MAD CX Audit or for further programme specifics please contact: [email protected] | + 00 44 7968 316548 | @consultingchris | Lexdengroup.com The Courtyard, Wind Hill, Bishops Stortford, Hertfordshire, CM23 2ND| + 00 44 (1) 279 902205 Lexden Ltd is registered in England & Wales 06290644