The Impact of Customer Experience

The Impact of Customer Experience

There is a 20% potential revenue loss for not offering a positive, consistent customer experience. So what happens when an organization provides an exceptional customer experience? There are 3 areas where CX can make a major impact:

  1. Acquisition: increase sales and adoption
  2. Retention: build trust and strengthen relationships
  3. Efficiency: reduce cost and effort

Acquisition

When an organization provides a great customer experience they generate more traffic, interactions and impressions. They also see an increase in conversions, with an increase in average order size.

Retention

When customers get the experience they expect, they are more likely to become advocates and repeat customers.

Efficiency

Organizations providing a great customer experience, improve service productivity, increase self-service success, and reduce cost per interaction.

“You’ve got to start with the customer experience and work backwards to the technology. It starts with what incredible benefits can we give to the customer.
Where can we take the customer?” Steve Jobs

Great customer experiences are delivered by creating a culture of customer centricity (inside-out), in addition to seeing things from the customers vantage point (outside-in).

Outside In

  • Excel at individual interactions
  • Provide excellent connected journeys and customer intimacy
  • Make it easy, personable to do business with your company

Inside Out

  • Connect cross-functional processes, BI, Customer 360
  • Institute cultural change around customer obsession
  • Connect cross-functional processes, BI, Customer 360
  • Institute cultural change around customer obsession
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