Setting a new standard of measurement for CX in B2B

 

Colleagues collaborate on ideas to improve Customer Experience

Mar 11, 2021 | Jennifer Zamora

We can't do this alone... understanding customer experience requires collaboration across our industry

Establishing robust metrics to guide us along our Customer Experience (CX) journey

I never thought I would have the opportunity to debunk a myth. For a long time, many didn’t see customer-centricity as a catalyst for business growth. Instead, it was seen as a concept — one that was very abstract and difficult to deliver, especially in the Business to Business (B2B) world.

Now, thanks to the diligence and perseverance of our global team and fueled by a cultural shift across the company, we embrace customer-centricity as a true asset and one of Dow’s four Ambitions.

We found a meaningful way to measure and deliver loyalty-building customer experiences that contribute to making collaboration and growth with Dow easy, enjoyable and effective.

At Dow, we began our CX transformational journey in 2018, learning and building on Dow Corning’s systematic approach to serving customers and scaled it to Dow’s larger enterprise and extended customer base. We focused on listening to our customers through our annual survey, understanding their pain points using journey mapping, and acted quickly on their feedback. This has become our mantra of sorts; we follow this cycle to continue learning and improving.

We have now entered a point in our journey where we need to understand how our CX efforts measure in comparison to other organizations in our space.

And, after thorough exploration of practices throughout the advanced manufacturing and chemical sector, I kept coming up empty. A variety of CX measures do exist, but they mostly capture Business to Consumer (B2C) experiences. Those don’t fit B2B because our customer journeys are different and often much more complex.

There is an opportunity to create a more universal, reliable benchmark for measuring CX in our sector that would enable us to drive improvements in the customer experience across the industry. A first step to get there was to create a space to discuss the approach with others in the value chain.

Introducing a Customer Experience Consortium

Last year, Ernst & Young (EY) and Dow launched a Customer Experience Consortium that brings together stakeholders across the value chain to establish a common CX metric and shared methodology for measurement. Our goal is to establish a metric robust enough to function as a cross-industry benchmark, that has audit quality and can be reported to our own Board of Directors and the analyst community with transparency.

Internally, we recognized an important milestone when we announced our CX goals were to be integrated into our Environmental, Social and Governance (ESG) reporting to investors. It shows how CX is delivering more value for Dow, our shareholders, and, ultimately, all our stakeholders. Since we can demonstrate that investing in CX enables growth and higher value, we can help this new sector wide CX metric deliver new-found value to our entire sector.

My colleague at EY, Bernard Kang, Pricing & Commercial Analytics practice leader, helped develop the advanced approach to measuring CX and launch this cross-industry consortium. Bernard shared that he is “excited about leveraging this collaborative approach to helping companies understand how they can measure CX and ultimately serve their customers more effectively.”

In the spirit of collaboration, we are sharing a series of articles we put together with Customer Experience insights that draw from Dow’s CX journey so far.

Developing a customer-centric operating model
Listen and Understand
Part 1

Listen and Understand

Design and Activate
Part 2

Design and Activate

Scale and Optimize
Part 3

Scale and Optimize

The CX consortium gives Dow and other participating companies the unique opportunity to help lead the conversation when it comes to establishing best practices and benchmarks in our sector.

 

Jennifer Zamora, Dow Global CX Director

 

The consortium welcomes new members!