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Customer experience investments: Finding the sweet spot

Jan 24, 2018
From Advisory Institute

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Customer experience investments: Finding the sweet spot
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From the Advice Worth Keeping podcast series
Hosted by Stan Lepeak, Global Research Director,
KPMG LLP Management Consulting

 

Many companies have learned that designing an appealing customer experience isn’t the hard part. It’s usually an achievable goal to find out what customers like. And one step further, organizations are usually able to build an attractive-looking front end—whether physical, digital, or a mix of the two — that will, in appearance, meet those preferences. However, KPMG’s research proves only around 30 percent of enterprises feel they’ve received the expected return from those investments on enhancing customer experience. Why is this so?

To successfully execute these new customer experience enhancements, organizations need to align the rest of the enterprise with their plan – a complex and difficult task to succeed in. Additionally, they need to ensure the initiative delivers value to the enterprise, which requires a deep understanding of exactly what the customers both want, and need. For these reasons, many customer experience investments end up losing money for the company.

To avoid that trap, organizations need to start by answering two key questions:

  1. What defines economic value in the customer experience for us?
  2. How and where in the experience do we create this value?

In this podcast, KPMG executives Duncan AvisKerri Drozd, and Todd Cullen discuss:        

  • Why it’s critical to define what value means to your customers and your company
  • The importance of finding the right trade-off to satisfy your customers and your strategic goals
  • How connecting the data dots through the “connected enterprise” can help you maximize your customer experience investment…for your customers and your company.

Duration: Less than 11 minutes.  Activate the recording with the play button over the image.

 

Additional insights

Discover the eight fundamental capabilities that high performing organizations are investing in to maximize the value of the customer experience.
Explore our findings.

Listen to a related podcast where KPMG executives discuss the 
Evolving role of physical and digital in today’s connected world.

To learn more about becoming a customer-centric organization, visit 
www.kpmg.com/us/connectedenterprise.

 

For more Advice Worth Keeping, view the full list of podcasts and visit the Reality Check blog.

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