Significant shifts in customer engagement preferences and buying behavior have rendered legacy go-to-market models ineffective. Perceptive leaders who want to stay ahead of their competition have recognized this and are working hard to give their customers what they want, when they want it.
But some investments in transformation are failing to deliver their targeted benefits. The biggest reason is that, under considerable financial and resource pressure, many organizations are viewing their CX, productivity and growth objectives as mutually exclusive – however a siloed focus only gets a business so far.
Instead, organizations must take a broad and disciplined approach to transformation, considering how to elevate the customer experience and improve productivity while also driving growth.
Take a holistic approach
During times of uncertainty with pressure to act quickly, it can be tempting to look at CX, productivity and growth objectives as separate business goals. But this mistake will leave organizations floundering while others are flourishing.
Leaders who don’t assess how these objectives intersect, risk overinvesting in non-critical "moments that matter." Those who prioritize cost-out, jeopardize damaging customer and employee perceptions or losing critical growth capabilities. While aiming solely on revenue growth can result in expensive investments, with broad capabilities and channels that aren’t aligned to CX.
In contrast, taking an all-inclusive view will set businesses up to self-fund the transformation. By starting with the customer — identifying high-potential segments and understanding what they value — organizations can reallocate resources to deliver on the "moments that matter" most. At the same time, cost-efficiencies can be made by taking out non-critical capabilities and reinvesting into those that will make an impact and drive ROI.