An ethos of customer-centricity

CIOTechoutlook Team | Friday, 22 September 2023, 06:05 IST

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The inaugural edition of Team Marksmen Network’s CX Transfor- mation Conclave highlighted the busi- ness case for and finest exponents of great CX

Perhaps more than at any point in corporate history, the customer truly is king in today’s day and age. Digital has been a great driver of this change, allowing smaller brands to butt heads with well entrenched incumbents that might have previously been too big to assail, in much the same way David took on Goliath eons ago in myth.

The customer experience has become increasingly sophisticated and imp- ortant for businesses all around the world as a key differentiator that keeps them ahead of peers and competition. A survey by McKinsey revealed that improving the customer experience increases sales revenues by 2-7% and profitability by 1-2%. Furthermore, it also increased overall shareholder returns by 7-10%. It is little surprise then to see that the future of growth will be experience-led and customer-centred, and many organisations are rewiring themselves to make the most of this new reality and deliver unparalleled customer experiences.

Food for thought

India’s CX landscape is dynamic and evolving, with India ranking third globally and leading the way in the Asia-Pacific region when it comes to CX maturity according to research, and the inaugural edition of Team Marksmen Network’s CX Transformation Conclave, held on 15th September 2023 in Mumbai, highlighted how CX can be holistic, focused, and clearly linked to business outcomes.

By convening senior industry leaders and experts from across the globe to deliberate on the nature of CX, this breakthrough conclave highlighted how the nature of innovation and the ethos of customer centricity is one that transcends boundaries, cultures, and organisations. The speaker line-up included:

  • Brad Cleveland, Author, Leading the Customer Experience
  • Sanjay Gupta, VP – South Asia and Middle East, NICE
  • Parag Lokhande, EVP, Head Analytics & Strategy, Kotak Securities
  • Sunil Mathur, EVP Head Analytics & Marketing, HDFC Bank
  • Jayant Jain, Vice President, Marketing & Customer Services, Head Loyalty & Shopper Insights, Reliance Retail Ltd.
  • Vaibhav Rao, Regional Director Customer Experience (CX), Pfizer Asia
  • Uday Bhosale, Head of CRM & Escalations Management, Eureka Forbes
  • Peter Jayaseelan, VP & Managing Director (South Asia) and Head- APAC (Public Sector Business Unit), Jabra
  • KV Dipu, Senior President, Bajaj Allianz General Insurance
  • Shep Hyken, Customer Service and CX Expert
  • Shubhranshu Singh, CMO, CVBU, Tata Motors
  • Ruchir Bhatnagar, Executive Vice President, Customer Development, Colgate-Palmolive (India) Limited
  • Ashish Himthani, Head Customer Service Experience & Quality, Tata CLiQ
  • Avijit Mohapatra, Senior Director Customer Experience Transformation, Flipkart
  • Deepa Krishnan, Director - Marketing, Category, Loyalty, Digital, Tata Starbucks
  • Parveen Chander Kumar, Executive Vice President – Sales and Marketing, The Indian Hotels Company Limited (IHCL)
  • Varadharajan Ragunathan, Head- Monetization & Customer engagement, bigbasket

The event was also witness to an exclusive industry recognition, Masters of CX, which celebrated companies that have thoughtfully crafted CX rooted in purpose, delivering human-centric experiences that fully leverage innovation and maximise joy and engagement.

Those recognised in a glittering recognition ceremony included:

  • Bajaj Allianz General Insurance Co. Ltd.
  • big basket
  • Canara HSBC Life Insurance
  • Colgate-Palmolive (India) Limited
  • Eureka Forbes
  • Flipkart Internet Pvt. Ltd.
  • Future Generali India Insurance Company Ltd.
  • Haier Appliances India
  • HDFC Life Insurance Company Ltd.
  • IIFL Securities Ltd.
  • IndiaFirst Life Insurance Company
  • ITC Limited
  • Renault India
  • South Indian Bank
  • State Bank of India
  • TATA CLiQ
  • Tata Starbucks
  • Vistara

By getting the building blocks of CX right and adding a layer of innovative thinking in line with the demands of the current consumer, these are the brands that have cut out the hyperbole and demonstrated hyper-growth. This unique initiative was steeped in  research and shaped by insights gleaned from an industry-wide consumer study conducted by LeadCap Ventures.

Offering his thoughts on the sidelines of the event, Akash Tiwari, Co-Founder and CMO, Team Marksmen Network, said, “CX is fast becoming a key competitive area. Faced with the challenges of a dynamic and demanding business environment, organisations can’t afford to drop the ball on the CX front. It simply must be a strategic priority, for it is a major opportunity for businesses. Done right, it can catalyse loyalty through personalised customer journeys while unlocking greater productivity, increased revenue, and improved job satisfaction, to name a few upsides. The conversations we had at the CX Transformation Conclave revealed deep insights on the nature of this realm, and the Masters of CX upheld the finest exponents of this craft as the apogee of their respective industries. We salute their spirit, and hope it serves to be inspirational for others of their ilk."

Source : Press Release

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