Great CX + EX: The Formula for the Total Experience
Customer experience (CX) and employee experience (EX) are both critical components of any successful business. A positive CX is essential to customer satisfaction, while a positive EX ensures that employees are motivated and engaged in their work.
Focusing on both CX and EX creates a holistic experience for customers and employees, driving loyalty, satisfaction, and growth. A winning combination of great CX and EX is the key to long-term success.
At the end of the day, it is the happy customers who will make or break a business. Outstanding customer experience is required for customer loyalty and this can be achieved only with happy and satisfied employees. If the business provides a great employee experience it will in turn lead to excellent customer experience. When a business strikes a perfect balance between employee and customer experience, it will result in increased growth and profitability and this deadly combination is called total experience. Here are some interesting stats about EX and CX showcases their benefits for business.
- According to a Forrester Research, the companies that get their CX right are likely to outperform their peers with 17% higher customer loyalty and higher revenue.
- Companies with great employee experience outperforms the S&P 500 companies by 122 percent.
- A report from PWC indicates that 73% of the customers have indicated customer experience as one of the key factors for their purchasing decision.
- A report from McKinsey shows that 70% of employees want their workplace to be a significant source of purpose in their lives which can be made possible by great EX.
Important Aspects of EX
1. Give your employees a human touch, listen to them with empathy, at touch points which are important to them
All the traditional forms of feedback like surveys, transactional checks, etc have not really helped in improving employee engagement or experience. Nothing can replace direct human interaction. Try to talk to your employees across various touch points. Make them feel part of the process and keep them engaged and listen to them with empathy. It is important for the business to make the employees feel special and offer a good EX.
2. It is about them, so ask them about what is relevant to them
Don’t frame a list of standard questions and ask every employee the same thing. Personalization is key not only for customers but also for employees. The feedback has to be relevant to what the employee feels or wants. Talk to them personally and collect feedback on exactly what their pain points are and try to fix them. This will enhance trust, promote transparency and get highly relevant insights.
3. Look at your data, to measure key employee experience metrics
Here are some of the key employee experience metrics
- One should look at Employee Engagement Score, to understand how inspired or motivated your employees are?
- Employee Net Promoter Score indicates how likely your employees will recommend the business to be a good place to work for.
- To understand the employee happiness and stress levels, mood score is a great metric. A higher score indicates that the employees are happy and less stressed.
- Sentiment Analysis and Word Analysis will help you explore emotions and sentiments of employees that cannot be directly revealed in textual feedback.
- Predictive Risk Analysis will help the HR team to identify and shortlist employees who are unhappy or distressed and are more likely to quit.
Leverage AI to Delight Customers Across All Touch Points
According to a report by Gartner, organizations in their final stages of digital transformation will find that poor customer experience is their biggest barrier for success. Customer needs have evolved rapidly and they are looking for a seamless experience throughout their business journey and also their attention spans have decreased significantly. AI which was the core to Amazon customer’s success is now available to all types of business. It is the responsibility of the business leaders to leverage the power of AI to offer superior customer experience across all touch points. AI coupled with Machine Learning can learn customer behaviour in a short period of time and offer a highly personalized shopping experience for the customers.
Unify EX and CX
Highly successful companies today have unified EX and CX by focussing on Total Experience. A Gartner report points that by 2024 companies providing a total experience will outperform their peers by 25% in satisfaction metrics for both employees and customers. We’ve to agree that till date, separate technologies for CX and EX have worked, but now the times are changing. You should identify the possible silos and gaps in your current CX and EX stack and focus on creating a highly successful Total Experience tech stack.
Real-life Total experience Case Studies
1. Lumen Technologies: A global Cloud solutions provider
Lumen was at the height of success when it was focussing on customer experience by doing sentiment analysis, mapping customer journey and creating a centralized platform to keep track of customer needs. Their management identified that they are missing out on a key element namely employee experience. They identified whenever the company missed to deliver on their customer promise it could be due to a hurdle in employee’s workflow. They understood the importance of proper employee experience is key to achieve customer experience, they have embarked on the journey of total experience. According to the Vice President of Lumen, “The employee experience is critical to delivering a positive customer experience, and we have data that correlates to that.”
2. Fidelity Investments: A Global investment advisory firm
Fidelity Investments launched a mobile app named Fidelity Spire which offers free financial services. It uses data analytics and Artificial Intelligence to learn customer behaviour that in turn aids staffers to respond proactively to the next client action. It also offers training simulations for the employees that increase their service ability. Fidelity has focussed on unifying services across touchpoints while onboarding customers in the app. Spire app is a perfect example of how a company has unified not only CX and EX but also MX and UX into a single total experience.
3. Disney: A Global theme park and mass media entertainment giant
They’ve developed one of the best mobile apps for customers who book a ticket for their theme park. The customer can do the following using a digital wrist band and a mobile app.
- Book and manage itineraries
- Make dinner reservations
- Book fastpass rides
- Pay for souvenirs and dining.
- Order photo prints of photos taken inside the park
Disney doesn’t stop with just excellent customer experience but they have also given the same level of dedication towards EX. Their tech stack enables the front desk personnel to track arriving guests in Real Time so that they can predict and fix travel bottlenecks and offer a superior Customer experience with less waiting time. The EX also helps the restaurant’s hosts to keep tabs on reservation holders to ensure proper seating arrangements and avoid any business loss.
4. Petco: An American Pet retailer
Petco decided to focus on Total Experience and started working with the Medallia platform. This is a single platform for both Customers and employees. When the data is hosted in a single platform, mining the data becomes even more efficient and effective. According to the head of Petco’s omnichannel experience, when all the employees were allowed to use the same platform, it created a unified approach to feedback. They use the feedback and data from the system to offer superior experience to both customer and employee and this interconnection is where total experience has helped them outperform their peers.
5. MultiChoice Group: An African broadcasting and Pay television company
They have adopted Freshworks’ Freshservice and other tools and developed a single platform for both EX and CX. They have managed to offer faster omnichannel customer support for their South African customers. They unified customer insights from all touch points like walk-ins, calls, chat, emails and Social media. Since employees can access all the customer data and also customer support portal in a single platform, they can quickly escalate customer queries to cross team support.
The formula for the total experience is simple: great CX + EX = success. This means that by focusing on both CX and EX, businesses can create a holistic and seamless experience for customers and employees alike, driving growth, loyalty, and long-term success
We at TAFF have helped multiple companies worldwide to combine both CX and EX and deliver a rich total experience. We use advanced predictive analytics and AI to develop a seamless customer experience. Get in touch with us on how we can help you achieve a higher level of total experience. Contact us today