BVA Xsight

The importance of customer experience (CX) and the business benefits it can generate is now widely recognised. It is clear that CX has become a significant issue for many companies, yet so far, few have been able to deliver the kind of experiences that strengthen the customer relationship.

There are many reasons for this.

The most important thing, in our view, is that customer satisfaction, if achieved merely by meeting expectations and resolving problems, is not enough to make customers want to return, share their experience, spend more, and recommend a brand. It is often tempting – and obviously important – to focus on correcting pain points, such as simplifying the customer journey. But that may not be enough, especially given that some players (e.g. pure digital players) excel in this area.

THE CX, AS SEEN BY BVA

If you want to connect with the customer, you have to take a step back and think about how to enhance their experience to make it more memorable.

But it is not easy. Success requires buy-in from across the company, emphasising the importance of collective decision-making, creativity and discipline in order to ensure consistency and uniformity across the entire value chain.

WHAT IS CUSTOMER EXPERIENCE?

The customer experience is the sum total of the customer’s perceptions and feelings during their interactions with a brand or company, whether before, at the time of, or after the purchase of a product or service.

MAKE A DIFFERENCE BY LEVERAGING THE HUMAN FACTOR AND BEHAVIOURAL SCIENCE: PEOPLE REMEMBER EMOTIONAL PEAKS

We memorise experiences not as an average of all the moments that make them up, but according to the most intense and final moments. This is what Daniel Kahneman calls the “peak-end” rule.

American-Israeli psychologist and economist Daniel Kahneman, a Princeton University professor and winner of the Nobel Prize in Economics in 2002, clearly explains how we memorise our experiences in the field of customer relations and purchasing, but also in other professional and personal situations.

At BVA we offer a framework and methodology to help our customers design and implement these peaks, which essentially build our memory of the experience. This framework also helps to provide an understanding of how to adjust the intensity of these peaks.

SO HOW DO WE CREATE THESE POSITIVE PEAKS?

By using the EPIC model, based on the initials of 4 drivers which – individually or together – activate positive peaks throughout the experience that the company delivers to its customer

E ELEVATION

P PRIDE

I INSIGHT

C CONNECTION

A HOLISTIC APPROACH WITH 6 COMPONENTS OF GOOD CX MANAGEMENT

CX management requires companies to take a holistic approach involving not only listening to customers and CX management tools, but also…

a clear goal;
a customer-oriented mindset;
a de-siloed cross-functional structure (for designing and delivering customer journeys);
dedicated teams and resources

… to act, improve CX and manage change.

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