OCTOBER 2022 | VOL. 5
THE DEVIL IS IN THE DETAILS
A sound CX Strategy is essential. But it will be a waste of resources if the strategy owners are unwilling or unable to effectively execute the plan.
 
This translation of strategy into action is a challenge for many organizations. “Improving the Customer Experience” is often a top C-Suite priority, and leaders are energized when new CX insights are presented and shared. However, consistently translating the excitement and energy of strategic insights into sustained action and change initiatives can be daunting. At Verde Group, we believe that sustained action can be achieved if the following are true:

  1. The insights are grounded in the economics of the business
  2. A competitive market perspective is used to frame the opportunity
  3. The insights are specific and actionable, not fuzzy or theoretical
  4. Proper diligence is completed to determine the feasibility and impact of specific initiatives
  5. Proper ongoing measurement strategies are in place, executed and monitored to gauge success

To learn more about Verde Group’s insights to action process, contact us HERE
Results from last month's poll:
We’ve shared our perspective, but we’d like to hear from you! 👇
Why do you believe it is difficult to turn CX insights into sustained action?
There's no meaningful business case linking CX investments to financial outcomes
It's too difficult to get cross-functional leaders to invest in CX priorities
Short-term revenue and profit goals usually trumps longer-term CX investments
We lack organizational discipline to stay the course on our CX strategy
My company doesn't see CX strategy as a meaningful component to long-term growth
Other
Retailers can increase shopper repurchase intent by nearly 60% by consistently delivering a WOW! experience.

For the full report click 👉 HERE
10th ANNUAL CX DAY!
To celebrate CX day, we ask the question, "why should CX matter?"

"As long as your primary source of revenue comes from customers buying from you and/or recommending your products and services to others, then nothing should matter more to your business than figuring out why they buy and why they don’t buy. Without that information, your ability to grow your business is simply a bet. And the odds are against you."

-Paula Courtney, CEO - The Verde Group
ICYMI
NEW BLOG - Over a decade of customer trust gone in a flash - A personal story

October 2022 - Over 10 years of building up a customer relationship does not guarantee customer retention.

In Paula Courtney's latest blog, she explores how much work goes into building trust and loyalty with customers and how easy it is to lose that trust in a single negative experience.

Read the full blog 👉 HERE
IN THE NEWS
$100 million of TMF funding tagged for customer experience projects

Regardless of your political affiliation, we believe all of us can agree that the experience dealing with governmental institutions can be laborious and at times, quite painful.

This article outlines the considerable investment the U.S. Government is making to improve the Customer Experience by removing friction - something The Verde Group loves to hear!

Read full reference article 👉 HERE
ASK US ANYTHING!
Thank you to those who submitted questions!
Our Executive Vice President, Jon Skinner answers your CX questions. Jon is a seasoned customer strategist, with over 25 years of experience developing breakthrough customer strategies both as a consultant and as an operational executive leading Sales, Customer Support and Marketing.
Q: How does a company determine the ROI of CX improvements?
Measuring CX ROI must be preceded by a clear plan of attack for CX improvements: what the improvement initiatives are, executive stewardship and functional leadership of the initiatives, clear success objectives and the right KPIs to demonstrate success. With these in place, a company can track the operational measures of CX improvement in the immediate term, and over time link those operational metrics to customer financial improvements in retention, spend, product penetration, referrals or other economic markers.
Q: How can we personalize customer interactions better across the entire customer journey?
Our clients typically approach this question by starting with journey mapping. This can be effective, but many discover as they flesh out customer journeys that journey mapping alone isn't specific enough at the interaction level to make specific choices on how to personalize for CX (and financial) success. For these clients, incorporating VOC data from CX tracking into their customer journey maps helps them zero in on the interactions that matter most, better explains what different customer types (i.e. personas) want from each interaction, and turns the journey map into a dynamic tool that measures the ongoing success (and continuous improvement opportunities) of a CX personalization strategy.
Q: How do I convince my leadership team to invest in CX?
It’s trite but true: show them the money! You have to put forth a CX strategy that demonstrates investment in CX equals growth in customer retention, spend, product adoption and overall share. Without that financial linkage you are just hoping for success. After demonstrating the financial imperative of CX, VOC "case studies" are often helpful to bring customer experience (and customer growth opportunities) to life for senior leadership. It takes effort to keep in touch with actual customers in the C-suite, and we've found it useful to link the financial argument for CX to real-life CX stories to help with that issue. 
Send us your questions and stay tuned for the November newsletter to see your questions answered by one of our CX specialists.
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