Introducing CX Action Management
The New and Exciting CX Approach That Maximizes Retention and Customer Lifetime Value
If you’re still managing your customers’ experiences with traditional methods, it’s time to wake up and smell the coffee. The old ways of customer experience management are over, and Action Management is the new answer. Here’s why…
The biggest lie in CX is that Customer Experience Management (CXM) actually works. It does not. It is broken.
There’s a gap known as the Action Gap, which defines the disconnect between customer insights and companies’ actions. Essentially, companies are good at identifying problems but struggle to turn insights into action. CXM may be broken – but there is a new way.
CX Action Management is a new CX framework supported by new technology that aims to bridge this gap, allowing companies to deliver on their brand promises. To be successful with any strategy, you must first get the basics right – and the basics of CX is collecting customer feedback.
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CX Action Management: Turning Customer Insights into Action
CX Action Management is composed of two elements:
- Action Management System (AMS): A framework based on a simple five-step structured process
- Action Management Platform (AMP): A technology developed to support companies willing to implement Action Management
CX Action Management offers a framework and a series of tools designed to enable companies to transform customer insights into meaningful initiatives that immediately impact the bottom line.
CX Action Management System (AMS): An Overview
The first two steps in the Action Management System are the setup steps which only partially overlap with existing feedback management processes.
Customer insights are gathered at different customer journey steps using just-in-time channels and technologies based on KPIs you want to influence.
The collection phase of the AMS revolves around listening to customer feedback during particular interactions with the brand, using the proper methodology and survey system. Everything revolves around this input, as the process is entirely customer-centric.
At this stage, data is automatically analyzed to define key drivers of happiness or dissatisfaction, KPIs are benchmarked, and key activities are clustered and prioritized. Focus means focusing on opportunities; everything starts by identifying and prioritizing such opportunities.
Within the focus phase, there are different processes (explained in more detail in our CX Action Management Blueprint and Category Introduction whitepaper) that support the following sub-steps:
Automatic data analysis
Data clustering and modeling
Classification and segmentation of data based on products, stages, tiers, segments, location
Automatic insights in the form of key drivers of satisfaction and dissatisfaction itemized by topic and subtopics and mapped according to segmentation
A matrix system that categorizes issues based on complexity, effort of resolution, potential positive impact on operations and subsequent ROI
Issues are then prioritized based on assessment and can be processed either automatically or manually in the next step in the AMS