We're proud to share that our Insights article "Anticipating a Downturn? Pause, Pivot, and Optimize Your CX" has been identified by the Canadian Marketing Association as recommended reading for Members. The CMA will feature this Phase 5 Insights article in its February 2nd Top 5 Picks Newsletter, which identifies "weekly news and perspectives that impact marketing".
Based on an interview with Phase 5 Partner and Customer Experience Practice Lead, Andreas Noe, the article discusses how CX can be used as a way to increase loyalty and retention at a time when customers are looking for ways to save. Andreas talks about some of the biggest opportunities for organizations to leverage CX in the event of a possible economic downturn, and some of the steps he recommends for companies looking to recession-proof their business.
The article advises companies to maintain their focus on the customer in order to understand what changes will generate the most impact when resources are limited. During a downturn, the environment will have changed for your customers, and perhaps even your customers themselves will be different. Revisiting the customer journey, its moments of truth, and the jobs to be done can provide insight into where an organization should invest and how (or whether) they should alter their plans. Read the complete article for more details, as well as examples of how these concepts have been successfully applied.
Phase 5's expertise lies in bringing together all types of research, analytics and design to help organizations become customer-centric through their customer experience and innovation strategies. We're pleased to have the CMA recognize this recent article which illustrates the value of customer-centricity in helping companies weather tough times.