Experience is the new economic battlefield. Business used to be largely won on product and price. But more and more consumers are choosing to stay or leave brands based on their experience with them.
Research backs this up: A Broadridge study shows that 65% of customers think the majority of companies they do business with need to improve their customer experience, up from 35% in 2019. Accenture found that 64% of consumers want companies to respond faster to their changes. while 88% of executives feel that customers are changing faster than their companies can keep up.
In an environment where customers are feeling the pressure of inflation and a looming recession, every experience looms larger. that’s all total experience That matters.
What is the total experience?
The disciplines of customer experience and employee experience are inextricably linked, and a total experience (TX) strategy It is necessary to ensure alignment to solve business problems holistically. Total Experience is a discipline that combines the customer, employee, and operational experience to achieve customer and employee satisfaction and drive business growth. Leverage composable apps to embed, deliver, and personalize information through a common UX.
- Customer Experience (CX) it is your customers’ holistic perception of their experience with your business or brand. The goal of CX improvement programs is to cultivate customer loyalty to a brand, encourage repeat business, and brand advocacy.
- Employee Experience (EX) are the interactions an employee has with people, systems, policies, and the physical and virtual workspace.
- Operating Experience (OX) focuses on removing digital friction in the processes that power your business. Operational experience solves the slow and inefficient processes that are a challenge for everyone. Strengthens and supports EX, which in turn allows for superior CX.
Traditionally, the focus has been on improving CX. But there is no customer experience without employee experience, and many companies would benefit from taking an ‘inside out’ approach.
Three in four employees agree that digital transformations prioritize CX over EX. And those same employees agree that when employers prioritize EX, it’s with perks like ping pong tables or free office snacks over the technologies and tools that would help them do their jobs better. Deloitte research shows that companies with EX in the top quartile achieve twice the innovation, twice the customer satisfaction, and 25% higher profits than organizations with employee experience in the bottom quartile.
What are the biggest barriers to a superior overall experience?
1. Business areas are disjointed and operate in silos
According to CMS Wire Insights, lack of cross-departmental collaboration and silos were among the top three challenges cited by 72% of respondents. There are multiple touch points in the customer journey where business silos can add to the complexity. An agent may not have access to customer information in real time. Legacy systems lack integration. There is no easy way to quickly reach colleagues who can help. Lack of visibility into actions taken with the customer could prevent resolution. Departmental silos increase digital friction, create delays, increase risk, and obscure opportunity.
2. Bad digital employee experience
The number of applications knowledge workers use continues to grow: on average they now use 11 compared to six in 2019. Context switching from one application to another is the enemy of focus: it disrupts productivity and takes time to recover. It’s hard for employees to find information: 94% of consumers expect not to repeat information across channels, while 67% of workers lack historical customer interaction data. Engaged and supported team members drive better business results—they answer questions quickly and provide meaningful customer interactions.
3. Failure to generate insights at the customer level
According to CMS Wire, the majority of organizations (57%) are customizing on a one-to-many level or not customizing at all. The customer experience is rapidly evolving from a single transactional model to a deeper and more enriching long-term relationship model. It’s about brands becoming an indispensable part of life: deeply understanding customers to deliver value in the right place, at the right time, and in the right context. Only 6% are embracing this hyper-personalization.
total experience It is the new currency of the brand. Business leaders know they must prioritize creating a total experience strategy. Your goal is:
- Prioritize the EX strategy to optimize the digital experience of employees
- Leverage an integrated, composable digital experience platform
- Implement rigorous information governance
- Have a clear, data-driven personalization strategy
See how the total experience can help differentiate your business.