In a groundbreaking move, Bain & Company, Kantar, and Qualtrics have joined forces to establish the first-ever global Customer Experience (CX) standards. As a seasoned CX strategist, I’m excited to unpack what this means for businesses and why it’s a game-changer for our industry.
Why These Standards Matter
- Unified Language: For years, CX professionals have operated without a common framework. These standards provide a shared vocabulary, making it easier for teams to align and collaborate.
- Benchmarking Excellence: With clear metrics and guidelines, companies can now measure their CX maturity against global best practices.
- Bridging the Gap: According to the announcement, only 1 in 8 CX programs significantly impact business performance. These standards aim to close this gap.
Key Components of the New Standards and Their Implications
1. Customer-Centric Culture
- Aligning company purpose with customer enrichment
- Integrating customer focus into executive meetings
- Enhancing employee experience to drive better CX
Implications: This emphasis on culture signals a shift from viewing CX as a department to seeing it as a company-wide philosophy. For CX professionals, this means a broader scope of influence and the need to develop skills in organizational change management. Companies aspiring to CX leadership will need to reassess their values and potentially restructure their operations to truly put the customer at the center.
2. CX Capability
- Implementing comprehensive feedback management
- Developing a unified customer data taxonomy
- Utilizing advanced analytics for actionable insights
Implications: The focus on data and analytics underscores the increasing importance of technical skills in CX roles. CX professionals may need to upskill in data science and AI technologies. For companies, this likely means significant investment in data infrastructure and analytics tools, as well as fostering closer collaboration between CX and IT departments.
3. CX Execution
- Designing target experiences with the user as the ultimate arbiter
- Organizing teams around customer journeys
- Personalizing interactions based on customer lifetime value
Implications: This component emphasizes the need for cross-functional collaboration and a shift towards journey-based organizational structures. CX professionals will need to develop strong leadership and influencing skills to drive this change. Companies aiming for CX leadership may need to rethink their organizational structure, moving away from traditional silos towards more fluid, customer-centric teams.
The Road Ahead
While these standards provide a robust framework, implementation will be key. Here are three considerations for every CX leader:
- Assess Your Current State: Use the standards as a diagnostic tool to identify gaps in your CX strategy.
- Prioritize and Plan: Focus on areas that will have the most significant impact on your specific business goals.
- Align Stakeholders: Use these globally recognized standards to build buy-in across your organization, from the C-suite to frontline employees.
Conclusion
The introduction of these global CX standards marks a pivotal moment in our field. By providing a common language and framework, they have the potential to elevate CX from a “nice-to-have” to a core business discipline.
As we move forward, the companies that embrace these standards and integrate them into their operations will be best positioned to deliver exceptional experiences that drive growth and customer loyalty.
Are you ready to revolutionize your CX strategy with these new global standards? Let’s connect and discuss how Nic Taylor Strategic Consulting can help your organization become a leader in this new era of customer experience excellence.