5 Rules of CX to hold on to in Volatile Situations
The business world is trailing a horrifying landscape of managing shifting customer demands at a pace like never before. The dynamics of markets are such that it makes almost no sense to have a plan. The leaders are exhausted and find themselves caught up running around and looking for some sanity in never-ending chaos.
The pressure of delivering on business outcomes is an uphill task considering the declining top-line because of low customer acquisition. The focus for leaders transcends automatically to the bottom line that has a ripple effect on operational costs reduction. The Customer Experience (Cx) program is one low-lying baby that is first to face the banter, and this needs to change.
Anyone witnessing this panic caused by volatile customer demands or market dynamics and on the verge of withdrawing funding or pulling resources from Cx must press the STOP button NOW!
To begin with, this is the time to remind oneself of the benefits expected from Cx. The whole premise of Cx is based on understanding the consumer expectations and defining your strategy around them. It would help draw focus on key metrics like customer retention, loyalty, and advocacy and lends you an opportunity to stand out in your competitive landscape.
In conflicting situations like shunting the project completely vs. bearing the budgetary constraints or financials to keep the effort moving, these five rules will help progress on the Cx path:
1. Stay glued to the customer
Never lose sight of the customer! Irrespective of the challenges, one cannot compromise on this aspect. It is even more important to listen to the voice of consumers in volatile conditions. The Clients are part of the same world, and they might be equally uncertain and unclear about their demands. Hearing their concerns and being empathetic goes a long way in building customer loyalty and advocacy. This would allow organizations to know better about the delivery of experience and the demand from the real world rather than hearsay.
2. Stick to your vision BUT be open to adjusting your plans
It sounds cliched but still holds so much relevance in our decision-making on transformation programs. This particular rule is more of a mindset game than anything else. The Decision-makers often succumb to the change by activating their victim mode. The feeling of losing control, being trapped, and being directionless are a few drawbacks in this situation. An important point to recall in these moments is that no change has any power to impact a vision. A firm belief in Cx-Vision and making progress towards it, with few minor bumps or adjustments in the plan, may provide immense strength to an effort of driving results.
3. Check your employee pulse
Like we can’t lose touch with our customers, staying connected to our workforce is equally important to work through uncertain times. The term VUCA (volatile, Uncertain, Complex, Ambiguous) stands true for all, be it the business market, consumers, or employees. The stress and panic emerging from harsh situations hit the entire business ecosystem, including the employees. An employee stands at a risk of losing focus and disengagement and hence directly impacting productivity or quality of work. An enterprise must keep its workforce motivated by feeling valued and empowered in the system. Cx philosophy lays a lot of importance on how employee experience strengthens the overall customer experience.
4. Take calculated decisions
There is enough said about data and its importance in the decision-making process. Cx program and its governance are no different. At the time of program review, decisions are better driven when they are more fact-based and do not result from feelings. Cx metrics and measures carry a lot of importance at this critical point. The leaders must have key performance indicators at their fingertips to make better decisions. Do, Defer or Die, whatever the decision may be on ongoing Cx initiatives, it better be based on quantifiable factors. An impulsive decision that is “one for all” stalling all running programs is a NO GO!
5. Communicate Effectively
Ability to translate one’s thoughts into the right words at the right time to the right audience! Especially in the business environment, panic or stress could easily take the form of fear or rain insecurities of all kinds to the ones involved. Effective communication is an established tool for seamless operations and goes unnoticed in decision-making strategies. Effective leadership in current times is an ability to accept the change, understand the impact, and communicate relevant and timely information to all stakeholders. A genuine and transparent communication helps keep all the unnecessary noise at bay and allows the trust to flourish amongst resources, directly or indirectly, associated with the Cx program.
Building futuristic leaders is the biggest challenge that organizations face today. A big part of new-age leadership is staying resilient, empathetic, and innovative in a volatile world. Staying grounded and sticking to our basics always comes as an aid to effective decision-making and helping businesses thrive in the most challenging situations.