Maslow’s hierarchy of needs are typically described in the form of a pyramid with each layer building on the last. From the base of the pyramid to the top, the layers are physiological, safety, belonging and love, esteem, and self-actualization. What if we imagined these needs differently... like parts of a body, and the heart is really “belonging and love?” Without the heart, the rest of the body cannot live. With the heart, the body thrives and the possibilities for a fulfilling life expand. And now, what if you apply this theory to business?
Mark Taylor is the Senior Vice President and the Global Practice Lead for Cognizant Digital Experience and for him, the heart level of belonging and love in Maslow’s hierarchy of needs is what he is most concerned about. When it comes down to it, the heart level is about establishing relationships. So how does this massive, international company build such high-quality relationships with its clients and even encourage them to do the same with their customers? And what is the special cognizance, or awareness that Cognizant has that allows its team to stay close with their clients? Find out in this episode of Business X factors.
Main takeaways:
- Get Ready for the CX Renaissance: When businesses talk about customer experience or CX, they used to mean traditional sales and marketing touchpoints along the customer journey. This included attentive store attendants, clear, simple and beautiful websites and when executed well, it meant customer retention and acquisition and increased sales and loyalty. According to Accenture, the value proposition of CX is however stalling because many of the fundamentals of CX are now commonplace and no longer enough for differentiation and growth. Companies should be galvanized to push beyond the CX philosophy and reimagine their entire business through the lens of experience. Everyone in the company should be responsible for focusing on delivering superior experiences, not only the marketing team.
- Experience is a Tech Opportunity: While investing in tech tools seems to be the obvious way to improve customer experience, it is not as straightforward as that. What you need is the right tools in the hands of the right team. Seek out the tools that can scale for purpose and provide valuable insights hour-by-hour. In busy periods, you may need to grow your CX team quickly to keep up with demand or reassign existing staff members to make sure you have the right people in the right place at the right time. Get quick feedback on customer data and insights to keep a finger on customer contact with powerful, real-time analytics tools. But it is not only about the tools, you also need a team that is well-trained with a shared mission and invested in success who are setting the tone for the business.
- Concentrate on the Moments that Matter: When considering customer experience, it is easy to fall in the trap of believing everything has to be perfect and that all dimensions of an experience are equally important. Research by KPMG has found that it is the moments that matter, especially those that give the client cause to reflect on the nature of the relationship and consider whether the brand promise has been kept. To capture the moments that matter; remember that first impressions count in every walk of life, deliver on initial promises, know your customers and use opportunities to demonstrate industry, client and product understanding and concentrate on client reviews. Business is driven by referral and the curation of reputation is critical. Furthermore, you should take opportunities to add value and reduce cost, time and effort, anticipate issues, fix pitfalls before they occur, have a Plan B and have empathetic and emotionally intelligent responses to customers and clients.
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