November 4 - 6, 2018
Miami, FL

Challenges, Obstacles, and Solutions: How Chief Customer Officer Exchange Helps Customer-Centric Marketing Leaders

Challenges, Obstacles, and Solutions: How Chief Customer Officer Exchange Helps Customer-Centric Marketing Leaders

The title of Chief Customer Officer may be some what of a newcomer to the CXO club, but the quest of effectively connecting with customers is as old as the idea of selling products. Chief Customer Officer Exchange producer, Nadia Chaity, talks about the challenges and obstacles these executives are facing and gives in-depth insights into the value of the Exchange. 

What are the biggest challenges that CCOs and customer-centric marketing leaders are facing today?

As a relatively new position in many companies — today’s CCO needs to be a true polymath – a renaissance man! This role is now becoming the most challenging part of the c-suite as more established organizations hire C-level professionals to lead the charge to create strong and profitable company-customer relationships.  CCOs need to ensure that the organization has reached the cultural maturity of outside-in thinking, which will facilitate the work of the CCO and drive the customer experience transformation. The job requires significant leadership, diplomacy, and persuasive capabilities. Success depends on having the authority, influence, and budget—along with visible support from leaders.

Chief Customer Officers, regardless of their industry or tenure share three common goals:

  • Drive profitable customer behavior: To help customers spend more, and more often, the CCO must focus on initiatives such as profitability segmentation, customer retention, customer loyalty, satisfaction, and improving the customer experience. As well, many CCOs will use in-depth customer insight to inform the sales and marketing efforts to acquire more of the “right” and profitable customers.
  • Create a customer-centric culture: One of the most important roles of the CCO is to help create a strong, customer-centric culture complete with accountability and ownership at all levels in the company. CCOs that fail at this imperative incessantly put out fires and burn out as nobody else takes ownership. CCOs must prioritize customer initiatives to drive the most profitable initiatives with the greatest customer impact. They must put a face on customers and help employees (especially the non-customer-facing employees) remain focused on driving customer value.
  • Delivering and demonstrating value to the CEO, the Board, peers, and employees: Because the CCO role is new and some are not yet fully convinced of the value, the CCO must strive to deliver demonstrable value to all stakeholders, not the least of which are the CEO, the Board, and peers. Because results are sometimes harder or take longer to measure, CCOs must be very clear about their performance metrics to allay concerns about performance. As well, CCOs have to proactively collaborate with some executives may feel threatened by the CCO’s broad purview into customer issues that span traditional silos.
Some of The Biggest Challenges Holding Back CX Leaders are:

  • Lack of customer-centric cultures
  • Counterproductive organizational structure and processes
  • Lagging technology capabilities
  • Insufficient influence, support, and alignment with peers
What are some of the obstacles CCOs face in solving those challenges?

The main obstacle CCOs face in solving those challenges is Bridging Among Silos.

The CCO's job doesn't match historical hierarchal management models. It bridges among siloed divisions.  Organizations may be, within each silo, instituting customer strategies, embracing new technologies, tapping new sales channels—all aimed directly at the customer from their division's viewpoint. But without coordinated change, customer centricity is just talk.

Interestingly, this "bridging" role may prove useful in helping companies avoid the "fear barriers". These barriers are costly, inefficient, and demoralizing. Tearing down these barriers is difficult, but a Chief Customer Officer might be able to head off such a culture with ambassadorial processes and by maintaining a focus on the ultimate mission of the organization: customers.

How can CCO Exchange help CCOs solve their top challenges? 

With the customer experience being impacted by so many functions and marketplace variables, the need for a meet up with CCOs to have stronger general management and strategic thinking skills has been heightened.

We’ve found there are a few common conditions that are impacting CCOs overall:

  • In-store shopper experiences are driving the conversation about the brand and providing competitive advantage, requiring well-defined joint strategies rooted in consumer insights.
  • Uniting the company by harnessing all available data across departmental silos, giving their customers the intimacy they require and maximizing each interaction.
  • Linking customer success and experience with business values and brand promises to prove ROI.
  • Creating end to end accountability for customer experience by implementing changes across all parts of the organization to drive growth.
Measuring customer satisfaction with tools like Customer Effort Score (CES), Customer Satisfaction Score (CSAT) for short-term happiness and Net Promoter Score (NPS) for long-term happiness to ensure greater efficiencies, improved customer satisfaction, stronger competitive advantage and increased revenues.
85% of CCOs expect to help bridge the gap, ensure consistency across channels, and both collect and interpret consumer insights from the use of e-commerce as digital media usage time in the US is now significantly higher at 51% compared to desktop (42%)
To support this, CCO’s must shape and communicate the vision for the customer experience across the entire ecosystem. They must adopt new business architectures and operating models to provide the authoritative view of the customer strategy. The Chief Customer Officer Exchange will bring together 50 movers and shakers from the C-suite to talk about how to orchestrate strategic discussions to define customer portfolios to prioritize customer retention and acquisition efforts, create greater customer value, and increase loyalty with 12-15 inspiring keynote addresses, in-depth case studies and interactive discussion like BrainWeaves.

What are some of the best CCO Exchange sessions for gaining insights to each challenge? 

This is a tough one! Each session format and its respective topic have a very important place in the agenda. Each has been carefully planned and tailored in collaboration with our fantastic speaker lineup. These speakers represent some of the top companies in the US and globally.

Some of the best CCO Exchange sessions are:

  • Becoming a “Bullet-Proof” CCO: Creating Your Roadmap to Drive Sustainable, Profitable Change
  • Designing a Customer Centric Culture: Implementing Strategic Principles for Achieving Customer Centricity into Your Operating Model 
  • Identifying Technology to Drive Customer Experience in an Omni Channel Environment
  • Building a Healthy Culture with Engaged Employees
  • Defining, Designing and Operationalizing the Vision for a Customer-Centric Organization
  • Driving Authentic Customer Experience- Developing Loyalty Strategies to Drive Better Core Performance and Efficiency
  • Secrets to Profitable Customer Collaboration – Needs Based Customer Segmentation with Actionable Analytics
  • The Age of the Digital Transformation- Building Positive Customer Experiences Across Channels and Touch Points
How would you explain the overall theme of the CCO Exchange?

Today’s customers are armed with unmatched choices and channels and the ability to broadcast their experiences far and wide. As organizations become more focused on improving the customer experience, establishing customer-centric strategies, and producing more valuable customer insights, critical senior roles for customer-focused executives have followed. The CCO role is evolving to drive profitable customer strategy at all levels of the company with the express goal of acquiring, retaining, and serving the right customers for greater profits.

A Chief Customer Officer (CCO) is in charge of influencing corporate activities to make sure that the customer's needs are understood and met by all the members of the organization. The CCO is tasked with making sure that all the divisions of the company: finance, sales, marketing, customer service, etc. appreciate the customer's needs across the boundaries of those divisions. With that said, I can confidently say the theme deeply resonates with CCOs’ top areas of priority. 

What are you most looking forward to about CCO Exchange?

CCO Exchange is a peer-vetted event, which is limited to 50 attendees and has CCOs talking about emerging trends in the industry and shift points. I really enjoy the high-energy dynamics of our Exchanges. I personally get the chance to get fresh ideas to feature new information, research, and best practices from across the field of aging. It allows professionals like me to network and learn from the breadth of the field, and to take what I learn and put it to use in my own work.

It’s also very rewarding to see the Exchange successfully come to completion and to get to see speakers and attendees having such a memorable experience. I am really looking forward to it and would like to welcome you all in Amelia Island on December!