Customer experience driven business model innovation

Abstract

Business Model Innovation (BMI) is critical to a firm's ability to achieve growth and long-term viability. It helps improve the value of products or services and/or delivery of these offerings to customers. Much of the academic literature to date however lacks customer-driven business model innovation frameworks. As such, the aim of this investigation is to propose a customer experience driven (CX) business model innovation framework that aligns customer values and the firm's strategic needs. This paper contributes to the literature by (a) conceptualizing the way in which business model innovation and customer experience are related (b) providing managers with a concrete framework to guide business model innovation that supports customer experience-driven new services and (c) highlighting opportunities for future research to advance business model innovation research and practice.

Moving the Customer Experience Field Forward: Introducing the Touchpoints, Context, Qualities (TCQ) Nomenclature

“…A third key building block of CX relates to qualities. These qualities entail the set of distinctive attributes that reflect the nature of customer responses and reactions to interactions with the brand/firm (De Keyser et al 2015; Keiningham et al 2020). We distinguish five such qualities: participation level, dimensionality, timeflow, valence, and ordinariness.…”

“…More concretely, in a first step, managers may assess the desired experience qualities of customer responses at various points along the customer journey. Tools such as customer surveys, ethnography, netnography, and depth interviews may help gain insights into the desired qualities, identifying the extent to which each quality—level of participation, multidimensionality, timeflow, valence, and ordinariness—is potentially important (or unimportant) at each journey stage and valued by the customer (Keiningham et al 2020). An example is the beauty firm, Glossier.…”

“…Building upon the most prevalent definitions across different research traditions, Becker and Jaakkola (2020) defined CX as nondeliberate, spontaneous responses and reactions to offering-related stimuli embedded within a specific context . The broadness of this CX definition (i.e., CX is everything), however, does not provide much help to scope and develop a manageable CX program (Keiningham et al 2020; Maklan, Antonetti, and Whitty 2017). Becker and Jaakkola (2020) confirm that an atomistic understanding of the content of CX is needed to delineate what its monitoring, design, and management entails and call for novel research filling this void.…”

“…The TCQ nomenclature will allow us to contribute to CX(M) research and practice in three meaningful ways. First, the TCQ nomenclature helps reduce misunderstanding and conceptual ambiguity among CX(M) researchers and practitioners through identifying and listing all CX components (as called for by Keiningham et al 2020). Second, the TCQ nomenclature allows us to assess the current state of academic CX(M) work and identify existing gaps in our knowledge.…”

Customer Behavior as an Outcome of Social Media Marketing: The Role of Social Media Marketing Activity and Customer Experience

“…[19]. CX is one of the essential frameworks that should be considered by the manager to identify and act on opportunities that improve the enterprise's competitive position [20].…”