Strategic CX Innovation

Abstract

A gap within the Customer-Based Brand Equity (CBBE) pyramid model was identified, which does not make provision to create brand equity, which we termed the Customer Experience (CX) Innovation Gap. Strategic CX Innovation™ (SCXI) was created as a new research paradigm to fill this gap, based on the foundational theoretical paradigms of Strategic Innovation and Customer-Based Brand Equity (CBBE). A Strategic CX Innovation model was created to outline the five stages how to accomplish market and brand development to increase brand equity through customer experience (CX) innovations as a precursor for profitable growth. Strategic CX innovation (SCXI) is a system of multidisciplinary capabilities to: (1) search, find and define unique opportunities that will differentiate CX for the brand, (2) implement and deploy CX innovation programs, (3) continuously monitor and validate actual customer experiences against expectations and perceptions, and (4) effectively increase brand equity and sustainable profitable growth.

Keywords: Customer Experience, Transformation, Innovation, Strategic Innovation, Research, Brand Equity

JEL Classification: M30