Best Practice vs. Next Practice

Abstract

Let’s reflect upon what we have covered up to this point. We have learned about the history of CX, CX strategies, and management practices. We have established CX as the next competitive battleground. Firms have no other strategic option – they need to engage in CX management. Nevertheless, there are different options available on how to manage CX, and we have established the three practices as being Preservers, Transformers, and Vanguards. These practices differ across all dimensions of CX management and, more importantly, achieve different amounts of profitability. Vanguards outperform the others by far, leading us to focus on their practices. We explored, using three examples, how each and every firm can develop a Vanguard strategy using a step-by-step approach. Next, we presented the most crucial factor in a firm’s performance: the challenge of measuring the customer experience. We introduced EXQ as a comprehensive CX quality measurement, and established its superior explanatory and predictive powers.