Dinesh Mishra, Leader-Customer practice at EY, while highlighting the growing realization about the importance of delivering compelling and differentiated customer experience, emphasizes on the need for an overall customer centric approach and how this can be made the core for an organization and allow technology to act as a strategic enabler.
Customer experience has caught the imagination of the CMO in recent times. A 2013 Forbes Insights and EY’s report — The Customer Experience: Priority One for CMOs — concluded that most marketing executives are prioritizing customer experience over all other agendas. In addition, 69% see customer experience as vital to drive growth and marketing strategy.
In this extended economic downturn, where every customer is being charmed with newer, higher and more evocative propositions for their hard earned rupee, price-based competition as typically seen tends to move companies down a vicious spiral. In this scenario, going the other way and giving customers more of what they want (and very importantly, minimizing what they don’t value) provides a whole new dimension to compete on.
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