Welcome to the next episode of the Client Experience Podcast featuring our host Blake Godwin (Client Savvy), Steven Keith (CX Pilots), and Ryan Suydam (Client Savvy). Blake, Steven, and Ryan are client experience (CX) and employee experience (EX) innovators and thought leaders. They help professional services firms understand and master the science and art of experience.
In this episode, the CX leaders discuss how a professional services firm can get started with a data-driven client experience management program.
This is a great episode for anyone considering implementing a CX management program to drive revenue, repeat business, and referrals.
Here are some key insights and takeaways from the podcast:
- Not all clients are equal. Most companies have 20% of their clients contributing 80% of their revenue. Know your most important clients.
- There are benefits to testing a CX program with those that are not in your top 20%. However, you want to reach out to your most important clients quickly.
- Pursuing a CX management program helps differentiate your business from your competitors. A business differentiated by CX can have more negotiated contracts versus competitive bids. This yields greater profitability.
- We hear a lot of clients say, “we don’t know who our best clients are or what they are worth.” Your best clients are not necessarily your top 20% revenue producers.
- CX leaders need to have empathy deeply ingrained in their value system. Someone with authority needs to invest in the program and move it forward.
- Start by identifying what your organization wants to know that you don’t know today. Do you know what your clients think about you? Do you know what a client is worth to your organization?
- Do not start down the path initiating change based on assumptions.
- Build on what you already have. Do not let the implementation of your CX program depend on something else.
- Go through a CX maturity assessment to understand why and how what aspects of CX you need to focus on.
- Assess, design, and implement what you learn, follow-through, and measure success.