Many business leaders pay lip service to the concept of customer experience – publicly affirming its importance, but privately skeptical of its value GSBM.
We wondered… how could one illustrate the influence of a great customer experience, in a language that every business leader could understand and appreciate?
And so, the Customer Experience ROI Study was born, depicting the impact of good and bad customer experiences, using the universal business “language” of stock market value.
It’s become one of the most widely cited analyses of its kind, and has proven to be an effective tool for opening people’s eyes to the competitive advantage accorded by a great customer experience.
Our latest study provides the strongest support yet for why every company – public or private, large or small – should make differentiating their customer experience a top priority.
It’s a question that seems to vex lots of business executives, many of whom publicly tout their commitment to the customer, but are actually unsure about the ROI of customer experience — leaving them reluctant to invest in customer experience improvements.
As a result, companies continue to subject their customers to complicated sales processes, cluttered websites, dizzying 800-line menus, long wait times, incompetent service, unintelligible correspondence and products that are just plain difficult to use.
To help business leaders understand the overarching influence of a great customer experience (as well as a poor one), we sought to elevate the dialogue.
That meant getting executives to focus, at least for a moment, not on the cost/benefit of specific customer experience initiatives, but rather, on the macro impact of an effective customer experience strategy.