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CXEvolution™ – realising business outcomes from their customer experience (CX) efforts.

56% of UK CX professionals believe VOC programmes are not meeting management expectations

Disappointment in UK CX efforts rife as research from MaritzCX also finds that fewer than half (42%) believe current VOC programmes improve business results

 

High Wycombe, England – 17 February 2016 – MaritzCX, the world’s leading customer experience (CX) technology company, today launched its CXEvolution™ study looking into the issues preventing companies realising business outcomes from their customer experience (CX) efforts.

56% of the 500+ UK CX professionals surveyed believe their Voice of Customer (VOC) programmes fail to meet management’s expectations, such as increasing revenue, reducing cost and driving customer retention. This is despite evidence from the same research showing that those who have actively dedicated time and effort in well-designed and the highest performing CX programmes enjoy up to three times better financial performance than organisations with lower CX maturity.

In addition, the research uncovered that fewer than half (42%) believe their VOC programme is very successful at improving business results. This disappointment in the performance of CX programmes is echoed by 78% of UK CX professionals confirming their company’s current Customer Satisfaction score, Net Promoter Score or CX performance was not significantly better compared to a year ago. This is despite 36% believing their organisation to be more concerned with improving scores than actually delivering a great customer experience.

Linked to the disappointing performance of CX programmes is the confusion amongst CX professionals. Only 23% strongly agreed that they have a clear understanding of their customers’ needs, whilst only 12% felt that it was always clear what actions they should take based on feedback received from their customers.

“In a sense, some of these results are unsurprising – if you don’t know what your customer needs or expects, it’s impossible for VOC and CX programmes to make a practical difference to the business,” said Stephan Thun, European CEO, MaritzCX. “The focus of current VOC programmes is clearly incorrect. As some trailblazing businesses have already seen, clear understanding of the customer’s expectations, plus a well-understood action plan for how to analyse and respond to feedback are essential for making tangible impacts on customer experience. Without these, genuine customer dialogue can never be achieved and the VOC programme will remain misaligned with the business – and undervalued as a result.”

“It is clear that the UK CX industry needs a rethink on how to align CX efforts with genuine business expectations,” continued Thun. “This is why we created CXEvolution™ – the most comprehensive framework for assessing, measuring and prescribing specific actions proven to link customer experience maturity with financial outcomes. It redefines the approach to CX management, identifying the specific issues that prevent companies from realising the full potential through improved CX. Most importantly, it is future-looking – it defines where an organisation is currently on its path to superior CX, and identifies a bespoke route to achieving the next milestones.”

CXEvolution™ is an assessment and action model, inspired by work with global organisations such as BMW, Nissan, Qantas and T-Mobile to measure and manage customer experience outcomes.

The CXEvolution™ framework begins with an in-depth assessment that uncovers details about an organisation’s proficiency in 14 CX competencies across six dimensions. The results not only identify an organisation’s overall CX maturity stage, but also provide a benchmark against industry peers, best-in-class leaders and the market at large. The framework then provides a tailored, actionable path forward that supports organisations’ progression to improved CX and the significant financial opportunities that come with it.

Through recent assessments of more than 4,300 CX professionals around the world, MaritzCX has proven that 83% of companies are in the bottom four of the eight brackets in the CX Maturity lifecycle, and that 72% of organisations have not even yet put in place a formal CX programme. However, the incentive to improve is clear. The CXEvolution™ study has also proven that those with the highest levels of customer experience maturity (where a focus on the customer is ingrained into the fabric of the business) consistently enjoy large payoffs in revenue, margin growth, customer retention and profitability – up to three times more than firms with lower organisational CX maturity.

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“Despite all the recent rhetoric, most companies are still immature when it comes to managing their customer experience,” said Carine Clark, CEO and president of MaritzCX. “Making the right small improvements can create a significant opportunity for organisations to leapfrog the competition and catapult their CX programmes far ahead of industry averages. With the development of CXEvolution™, we are the only strategic CX business partner that can provide a clear evolutionary path to clients, along with products and services offered by us and our partners, to maximize the value of each stage of a company’s CX maturity.”

To take the complimentary CXEvolution™ assessment, visit www.martizcx.com/gb/what-we-do/assessment/

 

 

Notes to Editors

The CXEvolution™ benchmarking study began in autumn 2015, and to date includes more than 4,300 CX professionals across the U.S., Canada, EMEA and Australia. MaritzCX launched CXEvolution™ in 2016 to help businesses assess their CX maturity and pinpoint the technology and services they require in order to improve financial performance and customer retention.

About MaritzCX

MaritzCX® software and services help organisations see, sense and act on the experiences and desires of every customer to increase retention, conversion and lifetime value. With an unmatched combination of customer experience (CX) software, research science, vertical market expertise and managed programme services, MaritzCX ingrains CX intelligence and action systems into the DNA of business operations through its 12-point CXEvolution™ process. To take the complimentary CX assessment, visit www.martizcx.com/gb/what-we-do/assessment/ For more information about CXEvolution or MaritzCX, visit www.martizcx.com/gb/cxevolution/ and  www.maritzcx.com/gb/cxevolution/

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