Customer Centricity & the CEO: Avoiding the Five-Year CEO Trap

WHAT IS THE 5-YEAR CEO TRAP?

Average CEO tenure has declined from six to five years and in some industries CEO tenure is now as low as three years. This has placed immense pressure on CEOs to deliver short-term business success.

TEN-POW TIP#1: Start right away. Successful CEOs arrive with a vision, plan and realistic expectations for transformation.

CEOs ARE LOOKING TO BUILD STRONGER CUSTOMER RELATIONSHIPS AS PART OF THEIR STRATEGY TO DELIVER BUSINESS SUCCESS

65% of CX mature brands will realize a significant increase in sales resulting from their CX efforts.

Our research shows that transforming a brand by becoming more customer-centric does deliver significant business success.

TEN-POW TIP #2: Have a plan. The CEO must have the knowledge to make the right investment, in the right area, at the right time for the brand to efficiently transform.

TRUE CX TRANSFORMATION TAKES TIME

CX transformation is about shifting corporate culture and leveraging engagement on a truly massive scale and building momentum of this magnitude takes time along with careful planning and execution.

61% of brands took 3 or more years before achieving significant results from their CX efforts.

TEN-POW TIP #3: Teamwork. Close cooperation among the CEO CFO CTO/CIO CMO and CHRO is a pre-requisite for accelerated transformation. #CX #CustomerExperience