We all crave good experiences.
We all hate bad experiences.
This increasing trend towards experience is so strong that in 2023 we are seeing Chief Experience Officers (CXO) being appointed to ensure that it is made a foundational element of business strategy.
A recent PwC report noted that it is what every company strives for. Yet so many fall short of expectations – perfectly reasonable expectations.
“Call it an experience disconnect: companies tout the latest technology or snappy design, but haven’t focused on, or invested in, the most meaningful aspects of customer experience”.
Communication. Consistency. Convenience. Speed. Friendliness - and of course the human touch.
As well as Customer Experience, businesses increasingly need to think about Employee Experience as competition for the most talented and skilled workers grows more intense.
Over the past year, we have seen huge movements of talented people, referred to as the Great Resignation and Quiet Quitting, as workers reassessed the impact of work and what they want to get out of their lives.
We often see companies try to retain their key employees by offering financial incentives. However, in our experience, many of those employees would have stayed put anyway and others have concerns that money alone can’t address.
Praise from leadership, frequent promotion, the flexibility of hybrid work, a positive company culture and opportunities to lead projects are often more effective in terms of retention than simply cash. Effective leadership-development programs designed to retain key employees identified as being at risk of departure are also hugely effective.
Customer and Employee experience is a critical component of loyalty and, as a result, revenue.
