Many of our clients would be aware that HLB Mann Judd uses formal and informal ways to communicate with them, including the means of communication and its timing. Irrespective of the sector or industry a business operates in, feedback is an integral part of the firm’s client experience (CX) strategy and requires careful consideration and planning.
CX refers to all the different ways a customer interacts with your business and how they perceive those interactions. It differs to “customer service” which focuses on the quality of the interactions between the customer and a business. Instead, CX focuses on the journey the customer takes with your business. It is a deeper understanding of what they value from your business, including expectations, application of technical expertise, and rapport.
Implementing an effective CX strategy can help support the growth of your business through stronger customer loyalty, increased sales and better retention rates. The outcomes should be closely managed and monitored by your management team.
The right approach for your business
Increasingly, businesses are realising the benefits of delivering an exceptional customer experience, however the approach differs between businesses. It can shaped by the size of the business, structure and industry it operates in. The CX strategy and outcomes will also be influenced by external factors such as economic, social, environmental and political forces at the time.
Before embarking on a CX strategy, frequency and timing should be considered. Do you ask for feedback after a major milestone or deliverable? Do you need to check in after an invoice is sent out? These questions will need to be taken into consideration as the process will need to align with the business’s growth plan.
Asking for feedback
The CX journey usually starts by asking customers for feedback. There are a number of tools and approaches to obtaining the feedback. One of the most common methods is using the Net Promoter Score (NPS).
One of the fundamental aspects of CX is taking action after receiving feedback from the customer. The feedback should be used to:
- Prioritise efforts of staff and management
- Address concerns of less happy customers
- Optimise the experience for customers to improve loyalty
- Communicate brand strengths to existing and prospective clients.
Excelling in all of the above is a way to stand out from competitors. For businesses considering a CX strategy, it is therefore important to understand the vital role your people play in the success of the business. Engaged staff are more likely to have a positive interaction and impact on customers, which not only improves retention rates, but also assists in attracting quality, skilled employees.
Measuring the people experience
It is equally important for any business embarking on CX to also consider a concurrent employee experience (EX) program. An effective EX strategy will improve company culture, increase productivity and ultimately create a positive impact on the company’s revenue and profits.
Fostering your company culture
There many different platforms and tools available for measuring the people experience. Some businesses use an Employee Net Promoter Score (eNPS) to seek feedback. The feedback from staff should be used to:
- Empower staff and management teams
- Address concerns of any dissatisfied staff
- Identify attributes that thrive in the company and hire to those strengths
- Improve staff loyalty and improve retention
- Communicate brand strengths to the labour market.
Obtaining insights into your company culture may just be a missing piece to the puzzle when competing to attract and retain the best people.
Taking the long road
It is increasingly challenging to remain competitive in today’s ever-changing world, however market dynamics should only highlight the need for clients and staff to provide feedback.
Developing and executing CX and EX strategies demands time and a concerted effort from all parties, but constructive, well-informed feedback can be of immense benefit to businesses, staff and clients.
Authored by Holly Dixon, Director of Marketing & Brand – Australasia. This article was first published in the Summer 2022-23 issue of Financial Times.