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3 Ways to Maintain Positive CX Amid a Merger
Presented By: Sitel
Mike Small, Chief Client
Officer, Sitel Group
Brand acquisitions and mergers happen
frequently and while executives within the companies tend to be more concerned
with overhead costs, regulatory approvals and fending off industry competition,
one of the most overlooked processes is handling change management for the
customer. The lifeline to any business is the customer and in order to see a
successful transition months after a merger, brands need to separately and
cohesively keep customer experience (CX) top-of-mind instead of being an
afterthought.
To help guide brands within any industry - be
it retail, hospitality, finance and more - through a merger with a top focus on
CX, here are three rules to follow:
Continuously
communicate
The number one rule to a successful CX program
(at any time but especially during a major change like a merger) is to keep the
customer-base fully updated on the transition milestones. What this means is
communicating to the customer first and foremost why the merger is happening
and how the customer will benefit from the new business. In the case of the
T-Mobile and Sprint transaction, the two CEOs went on a media tour explaining
why the deal made sense from a business operations and market standpoint. They
also translated that they have a customer-first mentality and that the merger
will provide better experiences like increased cell receptions, faster internet
and that there would even be cost savings for the customer. While a week’s
worth of media tours is a great start, it’s not enough to keep customers
engaged and maintain their trust. Brands cannot afford to underestimate the
power of over communicating benefits to the customer.
Make
sure message delivery is receptive
How brands go about communicating the merger
to the customer is just as, if not more, important than the content of the
message itself - but somehow this is a process in the CX program that is often
overlooked. Personally, I can’t stand to receive email notifications from
brands so I’ve chosen to opt-out of this form of communication. If, for example,
I were a T-Mobile or Sprint customer and I received an email explaining the
details of the merger instead of via a channel I prefer (like SMS messages or
phone calls) I would personally feel as though my brand preferences went out
the window at the onset of the merger. The moral of the story here is that how
brands choose to communicate with customers on an ongoing basis must adhere to
the customer’s preferences. Change can sometimes be hard for customers and what
you don’t want is for the change to be disruptive to their day-to-day
lifestyles. If the content of your message and the method in which you
communicate with your customers is in-line with what they’re used to, the news
of change will be less disruptive.
Court
your customers throughout the transaction
Just because they’re your customer today
doesn’t mean they’ll be your customer tomorrow. The truth is, customer
retention amid a merger is a delicate topic because of the aforementioned
“change.” This is the time where brands need to “step it up” and put an
emphasis on courting their customers. If a particular set of customers
appreciates cost savings -- offer them a discount for being a loyal customer.
If you know that features and functions are a top priority for another customer
demographic, treat them to limited-time free access to new services.
Understanding each demographic within your client base not only exhibits that
your brand has a pulse on what’s important to them, it build credibility and
trust -- two characteristics that are important to uphold during a transition.
When going through a major transition like a
merger, it’s important for brands to prove their commitment to over
communication, transparent message delivery and the fact that they’re willing
to surprise and delight their customers. These tips can be applied to any CX
program but should absolutely make up the DNA of a CX strategy during a merger.