journey economics
Trent Rossini is the Managing Director and Co-Founder of inQuba.
Trent is a Customer Journey Orchestration expert who’s helping large corporations reach their goals by visualizing the end-to-end customer journey and engaging with customers across channels to gain a deeper understanding of the customer’s journey and what can be done to successfully progress more customers along those journeys.
“ Executives have a completely twisted view of what their customer experience is.”
The same parallel applies to organizations such as banks. Many of the experiences that customers have to deal with when interacting through the channels, and the call centers, and in dealing with many of the aspects of customer service, you never experience as an employee.
And I think that situation in fact gets worse as you become more senior. Executives have a completely twisted view of what their customer experience is.
Because in many cases, their personal assistant is doing the work. So, they never actually truly get to experience what their customers experience.
“Let's face it, surveys are terrible.”
I think that the other element, which is kind of a more practical element, is to ask the question: who likes to fill out surveys?
Let's face it, surveys are terrible.
If you think about it from a conceptual point of view, I'm going about interacting with an organization, let's say it's an investment organization.
The client is interested in investments and then out of the blue they receive a survey that interrupts their flow that asks them questions that are not in the context of what they are trying to do at that point in time.
It's disruptive.
It has a negative impact on the customer experience.
So, we've taken a view that surveys are terrible devices. I think their heritage comes from the 70s and 80s and filling in forms and that you just must have a better way.
And the way we go about doing that is not to have people fill out surveys. Because we honestly don't believe in them.
“ I think this is a Holy Grail of where CX needs to go.”
We can start to see the relationship between cost and revenue and profitability in the parts of the journey that I choose.
And then the most important part, and I think this is a Holy Grail of where CX needs to go, you start to associate those human feelings with the revenue that you generate.
Now, there's an element for me that makes me feel that this is a little bit perverse, because we're really monetizing human emotions. But in many respects, I think that's what businesses do and that's what marketing does, it's understanding that interplay.
We start to understand which human emotions lead to what level of profitability. And once you can do that, we’ve passed all the notions of what we spoke about earlier, so no longer do you need the charismatic CEO that represents 20% that has everyone aligned in the organization.
You now start to have conversations with your CFO, and you actually start to show the relationship between experience and revenue.
And I think many of the doubters of this space will be brought around, and you'll have far better outcomes within an organization.
