ROX.

Rox is in fact an acronym for return on experience. So what does that mean?:

CX - customer experience;

EX - employee experience.

So if we were to unpack ROX, it is in fact a new performance management metric that in fact brings together soft investments in an organisations culture.As we know, there are many aspects of customer satisfaction and CRM that are constantly under the spotlight. So it is imperative to track employee engagement with their customers, and this does not only apply to sales-takers and sales-getters, but to all functions in an organisation. If an employee is disengaged, then that employee is highly unlikely to deliver the best customer service. Many C-Level senior managers use metrics to measure their investments and outcomes without really knowing how those actions drive outcomes.

Unlike familiar siloed (lack of synergy) and static scorecards and company dashboards and indexes, KPIs and so on, ROX is in fact dynamic and company-wide. So one needs to look at the interdependencies (synergy as opposed to entropy, thus an open organic system), amongst existing business systems and highlights the connections among multiple metrics across the organisation that contribute to the bigger ROX picture. So which critical few behaviours (in particular internal factors) can most elevate experience and value from the customer's point of view.

So as mentioned earlier you need to find your KPIs. ROX in fact enables B2B and B2C leaders to start focusing on the interconnected business ecosystem. So examine pride; influencers; behaviours; value drivers and outcome. In order to get ROX "right" - start with a "minimum viable product" (A minimum viable product {MVP} is a development technique in which a new product is developed with sufficient features to satisfy early adopters. The final, complete set of features is only designed and developed after considering feedback from the product's initial users via feedback loops.)

Source: IHG.

The ROX framework will assist management to zero in on customer touchpoints (a touchpoint in sales for example, is any encounter where prospective buyers engage a business or sales rep to exchange information, address questions, or handle a transaction. Think of touchpoints as your prospective buyers' every point of contact from the time they first become a marketing qualified lead {MQL} to the close of sale), that need shoring up (successful business owners know there’s always room to improve upon productivity). Switching to a cloud ERP system, just for example, can be a game changer for companies trying to grow or become more efficient and sustainable), as well as behaviours your organisation should focus on.

So whose job is it to develop, refine, and iterate the approach to this new linking metric. It is in fact the C-suite, with the assistance of all the relevant functional managers in their span of management/control. So with CX and EX, senior management can do a better job linking investments in CX and EX to the organisations strategy, culture, and talent management, to what your customers value most. address the questions of:

1. How strong is your employee's commitment to your actual brand purpose, which is aligned to your Corporate Brand Equity?
2. Use Gap Analysis in order to determine the gap between the critical few behaviours and acting on them? (Look at Critical Success Factors {CSFs} and Key Performance Areas {KPAs}).
3. How much progress are you making in in getting your influencers (those employees who influence and energise others) involved with key CX and EX initiatives?
4. How well are you establishing your value (and value propositions) in the eyes of internal (EX) and external customers (CX)?
5. How are you measuring improvement for CX and EX initiatives? KPIs/ Dashboards and so on?
6. How far have value-driving behaviours affected your profit and loss statements/Income statement?

There is in fact plenty of data on the habits and behaviours of employees and customers. The analytic tools, techniques, and talent needed to make sense of it all are widely available. So start to assemble and develop core elements. Predictive models (predictive analytics) and analysis are typically used to forecast future probabilities. Applied to business, predictive models are used to analyze current data and historical facts in order to better understand customers, products and partners and to identify potential risks and opportunities for a company. Many organisations attempt a SWOT analysis, a TOWS analysis, IFE matrixes and EFE matrixes, and Predictive analytics uses many techniques from data mining, statistics, modeling, machine learning, and artificial intelligence to analyze current data to make predictions about the future. AI is a combination of technologies, and machine learning is one of the most prominent techniques utilized for hyper-personalized marketing. But always be cognisant of employee behaviour and skills-sets as well as customers actual needs. (Situational and Needs analyses.) Situation analysis is defined as an analysis of the internal and external factors of a business. It clearly identifies a business's capabilities, customers, potential customers and business environment, and their impact on the company. Customer needs analysis is the process of identifying what requirements the customers has for a product or service. It's used in a variety of product and brand management contexts, including concept development, product development, Value Analysis, and Means-End Analysis or Customer Value Analysis.

Prof Rory Dunn.