Gone are the days when industry experts or C-suite executives kept their business discussions limited to new technological advancements, best practices, strategies, and so on. The new age business scenario is changing rapidly owing to the competitive spirit looming large across industries. Companies are willing to explore new concepts or metrics to uplift their business and outpace the competition. One such concept that has captured the attention of customer-centric businesses recently is ROX.
ROX, though a relatively new term or concept, is likely to make a major impact on the way businesses design their strategies and plans for expansion and growth. But what is it about? In this article at Strategy+Business, the author shares a complete overview of this new business metric and what it has to offer for the transformation of customer experiences.
What Is It?
Though, for long, companies have been talking a lot about enhancing their customer or employee experiences, yet they don’t have a system or process in place through which they can measure the success rate in these areas. ROX stands for ‘Return on Experience’. ROX is a metric that company can use to evaluate their return on investment in customer experience (CX) and employee experience (EX).
Though it is still in the nascent stage, but before long, it will lead the businesses to next level of analysis and insights.
How is it different?
ROX is not another scorecard that will give you the measure or value of a particular business function. It works on a self-analysis mode by linking customer experiences (CX) to employee experiences (EX) and comparing the investments made in both these areas to give the final assessment and report.
To read the original research report in full, click on the link here – https://www.strategy-business.com/article/ROX-How-to-get-started-with-the-new-experience-metric?gko=d8837