BX IS THE NEW CX

Everyone ’ s talking about Business Experience ( BX ). What is it ? Leadership approach that centres on organising the entire business around the delivery of exceptional experiences , with emphasis on being customer-obsessed .

But isn ’ t that just Customer Experience ( CX )? Not quite . BX is a more holistic approach , so while CX was limited to CMO or COO purview , BX is in the boardroom as a CEO priority because it ties back to every part of a company ’ s operations . And the foundation of a BX approach centres on recognising that a brand ’ s purpose plays a critical role in its growth , so you need a deeply embedded purpose . BX means turning yourself into a listening organisation , so you pick up on signals through data and research to uncover unmet customer needs , embedding experience innovation into the entire ecosystem , expanding the experience remit so it ’ s everyone ’ s business , and empowering employees to feel accountable for customer outcomes .

Why should firms embrace BX now ? Customer expectations have shifted and firms need to catch up with the pace of consumer change . Accenture research shows that companies embracing practices key to BX have grown profitability YOY at least six times over industry peers .

So , will BX become a mainstream leadership approach ? It ’ s likely . 77 % of CEOs said their company will shift to BX , fundamentally changing the way they engage and interact with customers , according to recent Accenture research .

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