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X AND O DATA FULL

In the final analysis, moreover, it is only by integrating X and O that you can validate the results of your CX efforts.

How do differences and changes in experiences across business units/divisions/regions/stores translate into relative differences and changes in business performance?.

Where should you invest (or disinvest) resources around customer experience to get the best return on your investment?.

Given resource constraints, how should you allocate efforts at customer retention and the recovery of lost customers?.

ĝo they give you a larger share of their category spend, buy more/more expensive products and services and recommend others?.

ĝo delighted customers stay customers longer than other customers?.

There are any number of business questions that can be answered only by integrating X and O data. If part of the segmentation strategy includes the delivery of different experiences to different segments, then, once again, the X and O data need to be integrated.

This might include information on channel usage, tenure as a customer, product usage, “capacity” (that is, what the household’s total current/future spend on the category may be) and any other data that is relevant to the business. Most segment their customers based on some criteria defined by O data. But if you are wiring a metric into your KPIs, strategy or bonus plan, shouldn’t you be using that metric which best explains customer economics for your business model? What’s the point of trying to optimize your performance on a metric that doesn’t optimize your business outcomes? And the only way to determine which metric best explains economic gains for your company is by integrating X and O data.įew companies manage their customers as an undifferentiated mass. Despite the claims of some companies/experts with branded metrics they push, the truth is that all CX and loyalty metrics are highly intercorrelated – as they should be: after all, they are trying to measure related things. The truly best metric, however, is that which best explains what drives value for your firm. X + OBy the way: how do you know which metrics to use? You can, of course, simply assert that ( fill in the blank) is the “best” metric. Where is the “point of diminishing returns?” (economist-speak for the point where the incremental cost of improved performance equals or exceeds the incremental value created).

You can read all sorts of articles (including some of mine) to make the general case for the economics of CX but how can you possibly establish the value proposition for YOUR company without using your own data? Is the economic gain trivial or significant? Is it worth the investment? (after all, delivering a great experience isn’t free). This is not a theoretical belief it is a belief derived from validation. But I’m a believer because I have run the numbers with numerous companies using their X and O data.

I’m a believer in the economic value of CX: CX strengthens customer loyalty, which, in turn, drives economic value to the firm. Whether it’s because of turf issues, resource constraints, lack of knowledge and tools or some other reason, the result is a failure to realize the benefits of data integration, which is the heart of what is popularly referred to as “big data.” Most firms, however, simply fail to connect the dots across data sources. Players of X and O won 16 times for a total of an equivalent of $52,300 with an average single win of $3,269.X + O = the motherlode, the Holy Grail of data. Top online casinos by total win on X and O.

X AND O DATA FULL

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