Is the estimated US cost of customers switching due to a poor customer experience.
Customer experience is the new competitive battlefield
Many CEO’s believe customer experience is nothing more than a platitude CxO’s and marketers throw about in blog posts and PPT presentations. Rarely, if ever, do they validate the need to put into practice. Why? Marketing doesn’t know how to speak the language of the C-suite. It’s called Business Impact!
Here are some translated Marketing to C-suite phrases that any CEO will understand.
- There’s a $3 return on investment expected for every $1 invested in the customer experience.
- Collectively, CX leaders had an average revenue CAGR of 17%, compared with 3% for CX laggard competitors.
- Companies with the strongest customer engagement strategies retain an average of 89% of their customers, as compared to 33% for companies with weak strategies.
- 67% of customers mention bad experiences as a reason for churn, but only 1 out of 26 unhappy customers complain.
- By the year 2020 customer experience will overtake price & product as the key brand differentiator.
So, is Customer Experience the latest marketing hype, or is it a true business revenue driver?
We are offering a limited number of free 30-minute CX consultations!
In 30 minutes, we’ll dive right in to your most pressing questions/issues, and explore options to connect your CX efforts to a demonstrable business outcome! This is not a sales pitch, but an opportunity to learn about your company and answer questions in a relaxed, confidential, pressure-free conversation.
The only thing you have to lose is customers!