Most retail customer experience (CX) leaders struggle to demonstrate success metrics due to the unrealistic business goals and objectives they are given. On top of that, CX leaders are frequently asked for vague outcomes, like "better customer service" or "best-in-class CX journeys” and to move mountains with limited funding and resources.
Challenges facing retail CX leaders
These challenges are apparent when CX practitioners are unable to deliver tangible business results. But CX leaders who know how to use customer data to optimize their customers' experiences, by focusing on loyalty, quality, and operational metrics, are more likely to convince leadership to invest or reinvest in the company’s CX strategy.
When the program works well, CX leaders can increase revenue and reduce costs; however, when the CX program fails, funding requests hit a wall, and the program suffers and declines. CX leaders must be able to demonstrate ROI and create business cases for their continuous improvement initiatives to avoid that fate.
How successful CX leaders demonstrate value
Retail CX practitioners must also be influential and collaborate across departments, including IT, finance, and operations. A failure to engage functional areas and align siloed business units causes customer experience program paralysis, making ROI metrics effectively impossible to measure.
Increase revenue and reduce costs
SMG—a leading experience management provider—takes a software with a service approach to accelerate value on how retail brands act on customer and employee insights. This approach empowers CX leaders to demonstrate value to the leaders in their business, making it easier to translate insights into bottom line improvements and prove success with internal leadership.
5 ways an SMG customer experience program demonstrates ROI
1. Identify gaps in current CX program
SMG analysts can gather CX-related data across multiple platforms and datasets to identify gaps in your current CX program.
2. Build a comprehensive business case and ROI
We assist in building a comprehensive business case and demonstrable ROI to show your CEO how your organization compares to your competitors and steps you can take to deliver a best-in-class experience.
3. Empower all levels to make positive change
Our teams provide insight and analytical tools for all levels of your business to ensure everyone is empowered to make positive change, set your company apart, and gain buy-in from other functions so the CX becomes an organization-wide priority.
4. Deliver a customized CX maturity report
We will also deliver a customized CX maturity report highlighting where you currently stand, and the steps required to move to the next level.
5. Align CX program with company mission
Finally, SMG can help you explain how a robust CX program provides your company with stronger data to inform better business decisions and align your customer experience with the company's mission.
Communication is key to sharing success
Above all, communication is key to sharing CX program success. For tips on how to set up your program with a solid communication strategy and secure leadership buy-in, download this guide
