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How EY can help
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The EY Customer Experience solution can help your business integrate CX programs that help deliver sustainable long-term value. Discover more.
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Discover how EY's customer engagement services can help your business improve sales & service productivity as well as maximize return on marketing spend.
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Customer experience, or CX, is the exchange or the relationship between a person and a business. Like most relationships, some are trusted, some are transactional, and some are not trusted at all. A CX program is a way to orchestrate those relationships between marketing, acquiring new customers, loyalty, mining data, service, education and a product.
While some CX programs may disappear in the next year, that might be a healthy thing. Some relationships might not be working, or they might be getting stale.
“It’s a moment right now for companies to revisit and refresh,” Reyes said.
Through increased investment into experiences, brands are providing more meaningful engagement for their customers, whether that be through loyalty programs or an enhanced experience.
To aid in this process, leaders need to listen to their customers; listening to customers is a great way to know whether your programs are working. There are important KPIs such as retention and willingness to switch or stay, but a great customer experience, or a bad one, is felt immediately on the bottom line.