CX professionals need to prepare for budget cuts
There can be little doubt that we are about to enter a recession; the only question is 'how deep?' Unfortunately, the potential impact on customer experience programs, and the professionals who lead them, may be just as profound.
Now, more than ever, CX Professionals need to be comfortable with making a convincing business case for customer experience to senior executives. However, as recent research from the CXPA in Ireland demonstrates, this is an area where CX professionals need help
'Getting access to funding and CX specific budgets to drive CX change and build a roadmap is proving challenging. Many practitioners are not confident in measuring the return on investment.’
Source: CXPA Ireland Survey ‘CX – On The Cusp? Customer Experience Management in Ireland 2020’
Even before the outbreak of COVID-19, there was a significant existential debate underway about the future of customer experience professionals. Analysts like Forrester in their predictions for 2020 were already saying that “One in four CX pros will lose their job …paradoxically, the number of CX executives will grow by at least 25%”, but that was in an economic and business climate that no longer exists – it’s going to be even more challenging now.
In a recent article ‘Keeping CX funded during a recession’, I give some reasons why it is vital that CX professionals can quantify the business value of their CX programs to win the support of the whole executive team, including the CFO.
As organisations struggle to come to terms with an economic downturn, they are going to looking for two things from their CX leaders: new CX strategies for a new world, and a compelling business case for either continued investment (or targetted cost reduction) in CX programs.
So how do CX professionals engage with their leadership teams and sell the business value of their program? And how do they start the journey to becoming a CX Executive?
Brainfood Consulting's Martin Hill-Wilson and I have come together to offer CX professionals a new 4-hour, interactive training course that is designed to give them the knowledge and skills they need to demonstrate the business value of customer experience to senior executives and secure ongoing funding.
In this half-day, highly interactive online training course, participants will:
- Learn how to build a strong ROI-driven business case
- Understand the executive agenda – as a group and as individuals
- Cover preparing ‘pitch statements’ for some of the most influential CxO roles
- Embark on the journey to becoming a CX Executive
Combining theory and practice, with coaching from Martin and I, participants will have the opportunity to discuss and work in small group exercises and practice what they learn.
At the end of the course, there will be an opportunity to put their questions and engage in an open discussion. Each participant will also receive a booklet giving pen portraits for 35 CxO roles and practical techniques that can be applied immediately.
You can find out more and register here.
Peter is an award winning expert in using a combination of data and behavioural sciences to lead transformation in the field of Experience Management (XM); encompassing Customer Experience (CX), Employee Experience EX) and Partner Experience (PX) .
Over the last 3 years,...