Statement: Finance Directors are not customer facing, so are not interested in customer experience! True / False?

In our recent discussions with sector specific publications as part of a general “Awareness Campaign”, we came to have dialogue with an editor of a well known and respected publication for finance professionals. We were somewhat taken aback to hear the statement, “Finance Directors are not customer facing so are not interested in customer experience”.

We have a saying at iCustomerExperience and we are sure most customer experience experts will agree: “Customer Experience is paramount to securing customer loyalty and advocacy which in turn delivers profitable growth”. Now I don’t know about you, but I can’t imagine any finance director out there today whose ears wouldn’t prick up to those two words “profitable growth”!!!

So OK, maybe what the editor was trying to say was that this publication’s subscribers expect or have come to expect coverage of the movers and shakers of the finance sector, debt reforms, insolvency, bankruptcy, economic recovery etc. Maybe customer experience content would be slightly out of place and would sit better in customer, marketing focused publications … hell no, what am I saying!!! I wholly disagree with the statement and the publication’s rather short sighted view of customer experience and its importance.

The current economic climate has produced an unprecedented challenge for financial directors; they are charged with making tougher decisions about where to invest and where to cut expenditure. It would appear that many have responded by cutting or at best streamlining critical programs that impact the very core of customer value and perception, customer experience is one of these areas. The iCustomerExperience website cites research that was carried out during and after the last economic decline, which substantiates the recommendation that if a company wishes to emerge stronger from this downturn, it should be looking to maintain or even better, increase its investment in customer related initiatives

Ultimately it is my view that when customer experience has the ability to:

  • impact a company’s bottom and top line revenue
  • provide a source of sustainable competitive advantage
  • enable it to emerge stronger from an economic downturn

“Every” CxO in “every” sector has a right to hear about it!

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