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Why half your budget or even 100% can evaporate and leave you devastated

Dr. Linden R. Brown

Dr. Linden R. Brown

Creating Profitable Customer Centric Cultures. Author I Keynote Speaker I Professor

Are you wasting half your effort or budget... or all of it?

Half your budget; throwing it away seems like a stupid thing to do. There is an old saying about advertising – “I know I waste half my advertising budget….but I don’t know which half”. The same goes for technology investments, but in many cases, all of it evaporates. We see this happen (but rarely admit it) with technology investments in CRM systems designed to capture customers’ insights. We have seen it happen with mergers and acquisitions.

Do you sometimes feel like wasting half your effort, senior leaders are not listening to you about CX initiatives’ urgency, or spending money in digital without considering employees and overall capabilities?

Why?

The answer is simple: not paying enough attention to a business’s most fundamental driver – its culture.

Executives rush into investing in technology systems, digital transformations, and capital investments in mergers and acquisitions without understanding how its cultural foundation will determine those executives’ success or failure.

If you don’t fully understand and assess your customer-centric culture and act on shortfalls before you invest in digital transformation, you will lose half your investment – or all of it, because your people will not know why you are doing it or how to use it to advance the business.

What’s missing?

It is the education about what it takes to create or strengthen a customer-centric culture – the foundation of all CX initiatives and investments that gives them the best chance of success. I have found that many leaders believe they already have a strong customer culture, but when I have pressed them to describe the evidence, they struggle.

I have effectively illustrated that senior leaders do not have a proven methodology to drive customer culture improvements in the business that link to improved profits, revenue, and customer retention.

It is your job as a CX leader and professional to educate them. You may need to enhance your own education and invite others in your business to join you on the CX and digital journey.

If so, consider joining us on our upcoming webinars. Looking forward to seeing you there.

Dr. Linden Brown

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