Customer Experience Transformation

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Importance of Optimising Post purchase Customer Experience cvr
Table of Contents

What is Customer Experience Transformation?

Before we take a dive into customer experience (CX) transformation, let’s take a look at CX and understand what it is. 

Customer experience, or CX, refers to the perception that customers have of a brand as a result of their cumulative interactions with the organization over their entire customer journey. 

 

Customer experience transformation refers to the change in an organization’s overall business model by taking a more customer-centric approach in order to enhance CX. CX transformation requires organizations to completely redefine themselves so as to meet customer needs and expectations more effectively.

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Key Components of CX Transformation

Let’s look at the key components of CX transformation by understanding the four areas within the business model where change must occur: 

  • Vision: Changes in the vision of the company and strategy so as to be more customer-centric

When an organization aims to achieve CX transformation, the first step it must take is to devise a new vision statement that encompasses its new goals and objectives. A well-crafted vision statement will help everyone in the organization develop an understanding of the areas of focus and key strategies. 

  • Workforce: Changes within the overall organizational structure to facilitate improved collaboration across departments to achieve common goals.

It is important that employees across functional departments work together toward the shared goal of customer-centric transformation. This change may require the assignment of new roles or teams.  

  • Operations: Improved processes that are designed to encourage collaboration across functional groups

To support the new business model, new and improved working processes and standards must be set. These new processes should be clearly defined so as to enable employees and departments to effectively apply them.

  • Technological: New technical infrastructure that facilitates cross-functional operations and CXM

It is integral to transform the organization’s current technology infrastructure to a new infrastructure that facilitates the CX transformation vision. Customer data structures should be evaluated to identify gaps between the current state and requirements.

Key Benefits of CX Transformation

Organizations that successfully transform their business model by taking a customer-centric approach to enjoy the following benefit: 

  • Increased Customer Retention: CX transformation will result in more satisfied customers which will result in an increase in customer loyalty and retention. 
  • Increased Customer Lifetime Value (CLV): Customer lifetime value is the total worth of a customer to a business over the whole period of their relationship. An increase in customer retention is likely to lead to an increase in CLV as the customer will make more purchases with the organization over time. 
  • Improved Overall Business Performance: Well-designed CX transformation strategies will improve the service culture within an organization that is likely to result in improved business performance.

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FAQs on Customer Experience Transformation

Customer experience, often referred to as CX, is the customer perception of a brand as a result of the cumulative customer-brand interactions from the beginning to the end of the customer journey.

Customer experience transformation involves taking a customer-centric approach to altering a business model with the objective of enhancing customer experience.

When brands want to achieve CX transformation, they must focus on these four components of their business model: 

  • Company Vision
  • Workforce
  • Operations
  • Technology

Some benefits of CX transformation are: 

  • Increased Customer Retention
  • Improved Work Efficiency
  • Improved Overall Business Performance
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