A prism is known to separate the light that passes through it into different colours…
Similarly, in today’s businesses, that same role of the prism is acted upon by Customer Experience (CX) to propel and uplift brands & businesses to deliver that colour and appeal in the marketplace. Customer Experience can communicate the brand values, making the needed impressions and in the process to help consumers make that choice!
The Asia Pacific region has matured into the age of transformation where Customer Experience becomes the business model. It is clearly understood that superior customer experience raises the qualitative aspects of the brand and drives business growth as well, through recommendations, retention and repeat purchases. It is no longer a fad but an everyday talking point in every good organization to deploy as well as excel in customer experience.
Despite the high acceptance of the CX concepts across the board, there is still much struggle in having them implemented & delivered – the enterprise-wide approach to include brand, product, channels and service into the overall CX framework can surely be better managed with the right patronage. Whilst the aim is there, the ability to put the concepts into action is somehow falling short. AI and Digital capabilities are critical in today’s world, but in a CX transformation strategy an over-emphasis on them is akin to putting the cart before the horse. While many have moved forward in CX programs through the right leadership and organizational approach, we still do see some verticals having to deal with pertinent issues in digitalization, people & culture and channel management.
With industry revolution 5.0 well in play across the Asia Pacific region; the maturity in leadership, strategy and investments must grow in tandem in order to optimize those opportunities into value for the end-users, for greater customer experience.
The great stories are no longer just from Disney, Ritz-Carlton, Zappos.com and Singapore Airlines but the world has been fast changing to accept the new standards from the new economy businesses like Amazon, Grab, Airbnb, Booking.com and the likes. CX is the game, and Digital sure move the meter faster in where the best works!
Hence, many discussions continue in the following form:-
- Who owns Customer Experience in the company?
- What does CX mean for your brand specifically?
- Which competitors are setting the benchmark for CX in our industry?
- What goes into the business case of a typical CX type initiative? How do we present a good ROI?
- Is automation the best way for CX to hit peak performance?
- What are human roles in today’s CX?
- How do we make these AI & Digital related decisions to operationalize customer experience?
- Are we data-driven in driving our CX strategy & initiatives?
- Where does Industry 5.0 take us to? What would IR6.0 look like?
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