Don’t Let Your CX Suffer During Tough Economic Times.

There has been talk of a recession for a year, but now with the collapse of Silicon Valley Bank, many are openly expressing their worries. A survey by Nielsen IQ shows that 62% of global respondents feel like they are living in a recession, and 48% expect it to last for a year or more. Consumers and investors are risk-averse, which contributed to SVB’s demise. During tough times, customer experience becomes more important than ever, but businesses often see it as discretionary. It is important for CX leaders to prove its value and drive impact during this period. Building relationships with clients and helping other teams understand customer needs are ways to showcase CX’s importance. Journey mapping and infighting are common mistakes that CX leaders should avoid during difficult economic times. Instead, they should cultivate executive sponsorship, re-examine top accounts, build a “Top Ten” program, and seek out brand advocates to show their worth.