CX Governance Must Grow Up New research has just been published that outlines better ways to tackle the major challenges facing previous approaches to customer service (CX) governance. CX leaders should think about setting up CX governance. Be in line with […]
CX Governance Must Grow Up
New research has just been published that outlines better ways to tackle the major challenges facing previous approaches to customer service (CX) governance. CX leaders should think about setting up CX governance.
- Be in line with the corporate cultureA separate CX governance structure within an existing organization is a recipe to fail. This is because the separate CX-focused group reinforces silos that governance is supposed to break down. Don’t reinvent the wheel if there is already a model for governance in your company. Establish governance if it doesn’t exist yet. Put CX in charge and have key stakeholders get seats at the table.
- Set expectations for participants.It is important to be clear about what you expect of those in the governance group. To make sure that you can take a decision, it is essential that everyone attends. A delegate must be sent on behalf of someone who is unable to attend. This delegate will have full voting rights. Scheduling for a group of more than 10 people can be difficult. Enabling participants to delegate helps preserve the quorum and keep the wheels of progress turning.
- Design for efficiency.Your governance team should be populated with leaders who are able to mobilize staff and budget. Instead of creating a separate group to manage the water supply for your otherwise elite executive team, create targeted work streams that are able to handle individual projects. To seed the work streams with the resources and skills needed to make improvements or create new products or services, tap the members of the governance team.
The 2021 Global State of Brand Manufacturers Survey Results
We surveyed 140 decision-makers from brand manufacturers around the world who were familiar with their company’s digital sales approach in Q1 2021. In partnership with Vorys eControl we sought to understand brand manufacturer’s digital commerce strategies. We focused on digital sales via online marketplaces, direct to consumer (DTC) websites, and wholesale dot-com site.
Brand manufacturers can use Forrester’s Q1-2021 Global State Of Brand Manufacturers Survey results to evaluate their performance and make internal arguments for digital sales strategies. The survey’s key highlights included:
- Brand manufacturers experienced a faster growth in digital sales than overall company sales in 2020.
- These companies saw an average 49% increase in digital sales year-over-year (YOY) compared with a 15% YOY increase for overall sales.
- Although they are fast-growing and complex to manage, marketplaces can be large and complex.
- We found that online marketplaces account for the highest percentage of digital sales among brand manufacturers. They are followed closely by wholesale dot-com sales and DTC sales.
- Manufacturers of brands cited issues with marketplaces such as counterfeits, gray-market sellers, and channel conflicts with other accounts or distributors.
- To resolve distribution and pricing issues, brand manufacturers employ governance programs and electronic control measures.
- To resolve distribution and pricing issues, most brand manufacturers combine pricing/advertised prices policies with distribution policies.
- Over a third of brands manufacturers have an e control program. E-control programs are beneficial for reducing online gray-market sales and generating more profit.
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