How Do I Find and Hire a Good CXO For a Startup?
There are so many C-level positions, but not many know about the CXO position. Your startup might, however, benefit immensely by hiring a CXO (Chief Experience Officer). You might be having a customer base of tens of thousands across many locations, and you might be spending millions in acquiring and retaining customers. The recruitment of a CXO could help you cut down on customer acquisition spending, streamline customer experience management, and optimize customer retention. Find out more about CXO hiring, its benefits, and how you could go about it. Find tips and suggestions from top C-level recruiters.
How much have you heard about the position – Chief Experience Officer? If you are a startup business competing in a B2C market, this is a position you should know about. Having said that, B2B businesses also benefit significantly from investing in a CXO.
There is no doubt that everyone is well aware of the position and work of a CEO (Chief Executive Officer). The CEO plays a big role in expanding business growth and reputation in the market. The most important achievements of a company are attributed to different C-Level positions like the COO, CIO, and CMO.
One role that is the least mentioned is that of a Chief Experience Officer – CXO.
A CXO is an officer who actually has the burden on his shoulder of the overall customer experience across all products and services.
He or she handles the customer lifecycle management and builds the understanding between the customer and the employees serving them. A CXO prioritizes the customer’s point of view and improves decision-making processes of the business that relates to all interactions with customers across all touchpoints.
Companies worldwide in different sectors like IT, ITeS, retail, finance, etc., have CXOs to supervise, monitor, and transform customer interactions with the company pre-and post-acquisition.
From building the initial experience to customer brand loyalty management and customer retention, a CXO oversees that the right measures and processes exist that improve the related metrics.
Will your company benefit from hiring a CXO? Is this a position that is necessary for your company? Find out more about the Chief Experience Officer position.
What Does A Chief Experience Officer Do?
Customer experience is a concept that is not clear to all businesses. Many companies think that customer experience is something to be managed by different departments through good quality support and interactions. It is more about how to manage interactions with customers.
This is one of the reasons why a CXO is not a part of mid-level and many large enterprises, although they could benefit tremendously from CXO hiring.
Let’s get into some of the responsibilities and goals a CXO manages.
1. Better Customer Experience:
Customer experience today is less about verbal and written communication and more about technology, fast response cycles, quick problem resolutions, better customer service, and other such activities. All these activities are managed through technology – web apps, websites, mobile apps, social media, etc.
Top C-level recruiters with experience in CXO hiring will tell you how much investment, time, effort, and processes remain unproductive and inefficient in the absence of an efficient CXO. The uncoordinated efforts of all departments blur the customer’s reflections about a company and create doubts that lead to an increase in customer attrition.
2. Better Value:
When CXO works to maintain coordination among all the areas of the business, it provides an even better value for the said product or service, which then results in increased customer satisfaction and loyalty.
According to C-level recruitment experts, most businesses with a CXO are able to create better brand value and maintain customer loyalty through the improved value customers get from being loyal to a company.
3. Longer Retention of Customers:
A CXO makes it irresistible for customers to stay loyal, leading to the longer retention of customers, which in turn brings in a lot of business. Many media reports indicate that 65% of the profit of a vast majority of businesses in diverse sectors is earned through existing customers.
4. Product Improvement:
A CXO develops strategies and practices to improve the product or the service provided to ensure a better journey for the client. He or she guides the product designer heads and product development teams to modify products and solutions based on customer feedback, demands, and preferences.
Framing The Right Process For C-Level Recruitment
If you have understood the roles a CXO plays in improving your customer metrics, you would definitely go for CXO hiring. You might still have some doubts. Here are some questions addressing which could give you deeper insights into CXO hiring.
According to many C-level recruiters, if you take time out to correctly respond to these questions, you would know without a doubt what your future CXO needs to do.
1. What Are Your Customer Experience, Loyalty, Retention Metrics
Research and understand your target audience – what kind of experience they want, and what they are getting now? Compare the gaps, track your customer loyalty metrics over the last five years for different customer segments. Track and understand the key factors affecting customer churn using data analytics.
Based on all the reports, do you think you need to centralize your customer experience management activities across divisions? You would need an expert like a CXO to lead this division.
2. What Are The Key Roles Your CXO Should Focus on?
You can always make a customized list of how you want your CXO to be, what abilities, experience, and knowledge he or she should have. Go through the CXO profiles of your top competitors and find out what are their backgrounds and key strengths.
You also need a people champion who can understand the employee’s perception of customer experience and direct it, leading to better employee-customer business relations.
3. How Will You Measure Progress or Success Of Your CXO’s Performance
There are a lot of ways to measure the progress and success of positions involved in sales, marketing, finance, or operations. When talking about a CXO, a number of factors seem intangible or hard to assess through figures. You would need to introduce new processes and feedback chains to find out how much you are gaining through improved customer experience.
4. Identify Ideal CXO Profiles For Your Company
Not every business is your business. You would need to do detailed market research and find out what CXO profiles would best suit your company. You would need to brainstorm and come up with criteria to assess and identify ideal CXO profiles.
5. Use Data and People Analytics To Discover Key Abilities, Traits, And Attributes in Your Future CXO
The use of people analytics in hiring is growing in importance across industry sectors. When you are hiring for key positions, you would need to base your decisions on evidence and facts – data and information – rather than on assumptions and opinions. When you frame your CXO profile, make them as objective and data-based as possible so that you know the exact skills, experience, and background your CXO should have.
6. Benchmark Compensation and CXO Talent Through Market Research
Compensation benchmarking gives you clear insights into what are the different CXO talents available in your industry and what are the compensation standards. Partnering with C-level recruitment experts enables you to get accurate compensation benchmarking results based on objective research involving hundreds of companies.
7. Partner with a CXO Executive Search Agency
It is always more beneficial to tie up with an executive search agency as the work would take many months unless you have the resources. A C-level recruitment agency with CXO executive search experience will help you with all aspects, from CXO talent and compensation benchmarking to framing detailed search criteria. A CXO hiring expert will have much wider talent access and the ability to fill a position in half the time and costs.
Partner With Alliance Recruitment Agency-UAE
Alliance Recruitment Agency UAE is among the most trusted C-level recruitment agencies for 1,000+ companies. We have industry-specific C-level recruiters with a strong background in offering end-to-end C-level recruitment support.
From framing the right best-match or benchmark talent profiles to focused candidate engagement, we handle all processes in a SMART, outcome-oriented manner, helping you identify and hire the best candidates for your C-level positions. Our track record boasts “outstanding” service delivery based on the feedback of over 90% of our clients.
If you are planning to hire for top positions, find the best talent through our services!