With the pandemic accelerating the rise of digital-first business models, companies across industries and around the world are digitizing customer experience (CX). CCOs in particular are strong advocates of digital experience. While organizations are making significant progress on digital-first initiatives like improving data privacy, however, they are lagging in other key areas, including meeting customer expectations. That’s according to a new study by ServiceNow and ESI ThoughtLab, which surveyed 900 executives across 13 countries.
The survey finds that successful businesses are treating employee experience (EX) and customer experience (CX) as part of a cohesive strategy called “total experience” (TX). CCOs and their peers who have invested in TX are seeing benefits like streamlined customer service operations. However, they must overcome a few key challenges to fully realize the benefits of total experience.
CCOs recognize the value of CX
In the post-pandemic world, digitizing customer experiences is key to driving growth. Now that customers have come to expect intuitive, seamless, and personalized experiences, organizations are taking steps to digitize CX. Digital customer experiences drive growth and market share by attracting and retaining customers and enabling the creation of new business models, products, and services.
Unsurprisingly, CCOs understand how the pandemic has changed customer expectations. Perhaps because of their unique view of the organization, CCOs are more likely to prioritize digital-first initiatives that their peers value less. For example, 40% of CCOs see high value from creating digital journeys around moments that matter, 10 points higher than the C-suite average.
Orgs of all sizes make progress on CX
Larger entities with higher IT budgets tend to be the most advanced in digitized customer experience: 33% percent of firms with revenues of $5 billion are leaders, against just 10% of firms in the smallest size category. Leaders are far ahead of others in overall customer experience. While beginners and intermediates will strive to close the gap, leaders will continue to make progress, with more than 80% expecting to be advanced in the next year or two.
CCOs advocate for EX
Throughout the pandemic, CCOs have learned firsthand how remote digital interaction can enhance employee satisfaction and productivity. Because they understand the value of digitized customer experiences, CCOs are also strong advocates for digitizing employee experience. In fact, CCOs see greater value in digitizing EX than any of their peers except the CIO.
CCOs are champions for total experience
Compared to their peers, CCOs are strong proponents of total experience. They believe integrating EX and CX can produce a multiplier effect, including a greater ability to attract customers.
Challenges seem less onerous to CCOs
Like their peers, CCOs are concerned about their ability to keep pace with customer and employee expectations in the pursuit of total experience. They are also concerned about a lack of shared metrics and uncertain ROI.
Unlike their peers, though, CCOs don’t seem overly concerned about these challenges. They are optimistic that their peers recognize the importance of total experience—and they are confident that they will be able to build an experience-driven organization.