DIGITAL FIRST™ BUSINESS

THE RISE OF EXPERIENCEO

When CX and EX are in symphony, the traditional CEOs need to look beyond “Chief Executive” to “Chief Experience”.

THERE’S A PROBLEM WITH THE CEO’S JOB TITLE

The title Chief Executive Officer (CEO) has been in use for a few decades to a century, and in today’s context, it is something of a misnomer. If a CEO is about executing, controlling, overseeing the “business” through his executive force (C-Suite like CFO, COO, CMO, CCO, or CHRO), the role in today’s exonomy is nearly redundant.

ExperienCEO born out of Exonomy

  • Economic Offering
  • Economy
  • Economic Function
  • Nature of Offering
  • Key Attribute
  • Method of Supply
  • Seller
  • Buyer
  • Factors of Demand
  • Commodities
  • Agrarian
  • Extract
  • Fungible
  • Natural
  • Stored in Bulk
  • Trader
  • Market
  • Characterstics
  • Goods
  • Industrial
  • Make
  • Tangible
  • Standardized
  • Inventory
  • Manufacturer
  • User
  • Features
  • Services
  • Deliver
  • Intangible
  • Customized
  • Delivered on demand
  • Provider
  • Client
  • Benefits
  • Experiences
  • Experience
  • Stage
  • Memorable
  • Personal
  • Revealed in a duration
  • Stager
  • Guest
  • Sensations
Source: Experience Economy Book

EMPLOYEE EXPERIENCE MATTERS FOR CX

Employee Experience (EX) is completely different from Employee Well-being. CX and EX are inextricably linked together and both highly interdependent for the organization’s success.

Employee experience is defined by work complexity — how hard it is to get work done in your organization — and behavioral norms around collaboration, creativity, and empowerment.

Impact of employee engagement on customer experience (versus other factors)
Employee Engagement
Base: All respondents, n=209
Q. How would you rate the impact of employee engagement on customer experience? Scale of 1 to 5
Source: Gartner
Enhancing Employee Engagement will improve the Customer Experience
Nurse
"In cardiac care units where nurses' moods were depressed, patient death rates were four times higher than in comparable units."

KPIs’ Tracked by CEOs show the Employee Experience (EX) is important for Customer Success.

As per Denise Lee Yohn, a leading authority on positioning great brands and building exceptional organizations Customer experience and employee experience are now two of the driving forces of business. Independently, each function leads to valuable relationships — with customers and employees — but when CX and EX are managed together, they create a unique, sustainable competitive advantage.

EVERY CEO NEEDS TO DEAL WITH MULTI-EXPERIENCES

At Virtuos, CEO’s designation has been renamed to “ExperienCEO™”, a word Virtuos has coined for the first time.ExperienCEO™ has the ownership of three Experiences namely Customer Experience (CX), Employee Experience (EX), and Everything Experience (XX).
Business Focus Diagram
XX.Digital
CX.Digital
EX.Digital

VIRTUOS VISION: RID THE WORLD OF BAD EXPERIENCES

By creating modern People Experience Management (XM), Virtuos plans to hold Employees directly responsible for Customer Experience. In this journey, Virtuos is also creating enterprise Virtuosoship™, All Agile™, and Invincible360™ Frameworks.