" Sitting is NEW Smoking. " Rujuta Diwekar leading diet consultant writes in her new book - 'Dont Lose Out, Work Out'.
We all know and believe that smoking can cause serious diseases to the smoker likewise if you remain seated for longer , poorer your health & you may die earlier, no matter how fit you are. This is a new scientific research. Physical activities through out the day is necessary to remain fitter and avoid many modern day diseases.
Applying this research to our topic of Customer Experience (CX);
Customer Experience Index is NEW Solvency Ratio. Yes this is also true. You may have very good EBIDTA margin , Current ratio , DSCR , ROCE, and PAT but if your CX Index if not healthy, all these robust ratios are just temporary. CX Index will indicate whether these health will be maintained , is improving or deteriorating.
Problem is , like we don't measure how many hours we sit during the day, we even don't measure CX index of our enterprise. Things we don't measure , we don't focus upon. But the fact remains , all our critical financial ratios are ultimately dependent upon our Customer Experience Index.
Better CX enables more sales, quick sales TAT, lower marketing cost, better margins, better cash flow, lower debt, higher margins means better stock valuation, attracts more capital. CX Index is really critical measure of enterprise health. It can also be used as preventive measures to stop deterioration of financial health. In can tell in advance state of financial health to expect.
You can measure CX Index by NPS , CES or combination of the two or define your own CX scorecard. You can do it in more detailed way by measuring experiences at all the touch points, different customer segments/persona, different product wise. More intense the scorecard , more it will be actionable.
Before your CFO tells you state of your enterprise's health your Chief Experience Officer (CExO) {Of-course if you have one} must tell you that.
Next time before you think of smoking , think of sitting and before you think of financial solvency ratios , think of CX Index.
