In this conversation, Anjali Malhotra talks about her entrepreneurial journey, her latest venture, and what drives her to take the step of faith after a well-established corporate career.
Can you tell us about your career chart so far?
I am 30 years old in the FMCG / Retail, Media, BFSI categories as I moved from advertising professional to TOI, Modi Revlon, Dishtv and Aviva where I held sales and revenue positions. I consider myself a learner and a builder par excellence and I have therefore continued to evolve into new areas and even varied profiles.
Although I started out as a product / marketing expert with basic branding and communication skills, I managed retail (both offline and online), generated revenue annual 2,500 cr (renewal income driven by data analysis), then digital transformation as we build a differentiated customer base. proposals
What drove you to become an entrepreneur?
I have been known as a customer evangelist in all of the companies I have worked for. While 80% of businesses believe they understand their customers and deliver great experiences, only 8% of their customers think so. It’s a huge gap.
Most companies operate with a sales / product centric philosophy rather than the customer. It might seem like a small change, but actually transforms the whole worldview for decisions, investments and even structure, processes and technology.
This is the inspiration for my C-Xcel foundation, a CX consulting practice.
Can you tell us about your entrepreneurial product?
The idea behind C-Xcel is to help B2C companies be more successful through customer focus. Data has proven direct links between great CX and customer retention (up to 5x more), brand reputation / trust (up to 68% improvement), revenue and more profit high (up to 17% higher growth) and even employee retention (1.5 times more employee engagement).
My effort is to engage with marketing, sales and service professionals to redefine CX at the center of their model and help increase customer revenue, plan digital transformation for practical customer journeys, strengthen capacities and culture to support such an environment.
How will this make a dent in the existing customer experience?
Customer behavior and brand expectations have changed dramatically, especially in the past 18 months after Covid. Today, 77% of consumers are willing to spend a lot more with brands that deliver great experiences. More importantly, 50% of customers will switch brands after just one bad experience.
Consumers now expect a seamless, convenient, and personalized Amazon-style experience from every brand, so everyone competes with Amazon and Uber for digital experiences.
How does the customer experience differ from customer service?
Consumer journeys are no longer linear, but complex, hybrid (online / offline) and multi-devices, multi-platforms for customers connected 24/7.
Customer service is a small part of the experience – usually a responsive process, more used for post-purchase use cases. In the contract, the customer experience is proactive and much broader points of contact for the brand throughout the process of research, discovery, review, sale, onboarding, and lifecycle management.
My favorite quote is that customer service, which is a table, should kick in, when the experience fails to deliver the required outcome for the consumer.
What is your vision for your business?
I would like to engage with B2C brands to help create consumer awareness, digital transformation and unleash value.
How do you plan to market your product?
Awareness and acceptance of the gap is essential for companies to embark on investing in CX. I create content to help develop sensitivity on the subject and also induce dialogues around it.
What new products / user experiences are you working on?
One of the foundational tools we offer is a tool to measure an organization’s current CX capacity, which helps assess where it stands and build a roadmap for the future. Most CX solutions are tailored to specific business use cases in strategy, design thinking, data analytics, digital transformation, and culture creation.