Using AI to understand customer feelings, we create focused strategies to raise sales and lower churn
In a world that sings the praises of figures and percentages, two software giants, Salesforce and Qualtrics, lay bare a striking corporate paradox. Salesforce flaunts clear financial promises, while Qualtrics embodies something less tangible: the essence of Customer Experience (CX). This sets the stage for an exploration not of whether CX is important (because it undeniably is) but of why it isn't standing in the CEO's office as a separate function.
Let's paint a picture of a traditional boardroom meeting. Sales has its revenue charts, Operations boasts of cut costs, and Finance, Legal, and IT have their clear monetary wins. These departments are like musicians in a band, each playing a tune that is readily measured, assessed, and applauded. Now, enter CX, the enigmatic conductor of the orchestra. It's there, vital, orchestrating the melody, but without a definable tune of its own. Herein lies the core of our exploration: Can you quantify a conductor's value in the same way as a musician's?
Research and insights affirm the challenge. Unlike other functions, CX doesn't have immediate, tangible outcomes that can be showcased. It's complex and multifaceted, more of an art than a precise science. Though critical, it doesn't translate neatly into a spreadsheet or pie chart. Deloitte's study shows companies focusing on CX are 60% more profitable, but it's hard to pinpoint exactly which aspect of CX leads to this profit (Deloitte, 2017). Similarly, a Forbes survey emphasizes the complexity, revealing a perception gap between companies' belief in their service quality and customers' actual perception (Eptica, 2017).
The narrative of Salesforce and Qualtrics illustrates this abstract nature of CX. The exact revenue or cost savings from a particular CX initiative can be nebulous, indirect, and challenging to pin down. It's like trying to catch a cloud with a net; you know it's there, but it eludes tangible grasp. This elusive quality of CX doesn't diminish its importance but explains why it may not be standing alone as a separate department. It's not about the lack of value but the challenge of measurement, the intricacy of attributing specific results to CX efforts. It's the unspoken melody that guides the entire orchestra but doesn't play a specific instrument.
But what if there were a way to unravel this complexity, to give CX its well-deserved place in the spotlight? Enter NUMR, a beacon of innovation in the CX landscape. Numr has embarked on an exciting journey, building relational and predictive models to attribute tangible value to CX. This approach is not merely theoretical; it's a practical solution that seeks to translate the abstract essence of CX into concrete, measurable terms.
Imagine being able to dissect the enigmatic conductor's influence, to translate the unspoken melody into a discernible score. That's what Numr's approach promises. By harnessing data and employing advanced analytics, Numr's models seek to unveil the tangible influence of CX on revenue, cost savings, and overall business success. In conclusion, the contrast between Salesforce and Qualtrics opens a window into the complex world of CX. The enigma of CX's quantification may have kept it from standing alone as a separate department, but solutions like Numr's pioneering approach offer a promising way forward. The future may see CX take its rightful place, not as a hidden influence but as a quantifiable force, contributing directly and tangibly to an organization's success. It's an exciting prospect, a new chapter in the symphony of business, where the conductor steps forward, baton in hand, ready to lead with confidence and clarity.
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