By Chandni U - July 19, 2021 3 Mins Read
Companies are beginning to realize the value of CX leaders in the first-party data strategy.
Five years ago, the role of a CX leader was limited. Today, they are empowered to champion the voice of the customer and engage in the creation and execution of the first-party data strategy that includes data collection. Even Gartner had redefined customer experience management as the previous version failed to precisely capture the CX evolution.
Experts assert that it is high time for companies to view CX as a discipline and not an element of a business organization. While many companies place CX at the center of their business decisions, a seamless CX that is both consistent and of high quality, requires dedication across all verticals of any business organization.
Within this dedication, the evolved role of CX executives holds the most critical role in an organization. They are responsible to maintain customer touch points and keep track of all customer input and output sources. This expanded role allows them to locate other additional data sources that can help enhance the changing CX strategy.
While existing VoC programs are not helping scale customer data sources, innovative CX leaders need to capitalize on their cross-functional customer reach and recognize the immense potential and nature of data insights. A true VoC program has to be adaptable and connect with all resources across the organization. The possible new data sources that were not previously given a second thought are now extensively being tapped. CX leaders in their cross-functional position have the ability to combine valuable data in a way that siloed teams were unable to.
The power of such CX leaders is clearly understood when brands realize that even central data teams that oversee the collection of data cannot fulfill the demand. Connecting segmented research with product usage data and marketing results can enhance the customer journey. Forrester states that the average customer revenue with evolved CX is 50 to 200 percent higher than the average of the other customers.
Meanwhile, with the growing importance of a strong first-party data strategy, many company strategic conversations revolve around the data that they will receive and the insights that can be derived from it, in the future. Yet, advance collection of all possible customer data from various sources is a critical CX touch point.
Companies need to be mindful about how they engage with customers during the data collection process from opt-in language, privacy communication, to personalized strategies and customer rewards for data sharing. CX leaders should be responsible for ensuring that CX across all verticals is consistent. They should have an overall positive impact on the company as poor execution and a lack of transparency can cause a negative reaction.
Companies are also beginning to understand that VoC data is only a small section of the data ecosystem within the organization. Although CX leaders are not the drivers of business transformation technology decisions, their role in process planning and customer data collection is critical.
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