Tuesday, October 31, 2017

The ROI of Customer Experience

I recently read the 2017 Customer Experience (CX) Index report from Forrester and was a little shocked at the main takeaway: Customer experience quality has worsened since 2016, and not just by a small amount. For every brand’s score that rose, two brands’ scores fell; and overall losses in index points were bigger than gains. Not only that, but the CX Index also showed zero improvement in customer experience scores by industry average. Ouch. Not a great look in a time when the vast majority of marketers cite customer experience as the number one way to excel past their competitors. So, we’ve clearly got a wakeup call on our hands: Consumers aren’t pleased with the quality of customer experience they’re receiving. So, what does this mean for our businesses?

When You’re Not Winning CX, You’re Losing (In More Ways Than One)
While, of course, keeping your customers happy is always priority, have you ever paused to ask yourself what value happy customers are driving for your business? Sure, you’ve probably heard the manufactured answers (“When our customers are happy, we’re happy!”) time and time again, but have you really explored the true, monetary value that is at stake with your customer experience strategy? Here’s a bit of a spoiler alert: there’s a lot of money on the table. Try upwards of $62 billion in losses in the past year due to unhappy customers. And that’s just the beginning. In our latest whitepaper, we explore some of the values associated with providing a stellar customer experience and share some of our best practices to help you create a value-based strategy that will prove that your early efforts will pay off in big ways. So what are you waiting for? There’s a lot at stake.