The Truth About Customer Experience
Companies have long emphasized touchpoints—the many critical moments when customers interact with the organization on their way to purchase and after. But this focus can create a distorted picture, suggesting that customers are happier with the company than they actually are. And it distracts from the more important picture: the customer’s end-to-end experience.
In their research, the authors—partners at McKinsey—have found that organizations able to skillfully manage the entire customer journey reap enormous benefits: enhanced customer satisfaction, reduced churn, increased revenue, and greater employee satisfaction.
To realize these benefits, companies need to embed customer journeys into their operating models in four ways. They must identify key journeys, understand how they are performing in each, redesign and support those journeys, and change mind-sets to sustain the initiatives at scale.
Journey-based transformations may take years to perfect. But they create a culture that engages the organization across functions and from top to bottom. It’s a culture that’s hard to build otherwise, and a true competitive advantage goes to companies that get it right.