Why Executives Should Invest in CX

By November 5, 2019 Customer Experience

Companies today need to stand out in a sea of sameness. To do so, they must invest in customer experience. Companies that lack this customer focus won’t survive.

Find that hard to believe? Here’s your proof…

Customer are likely to spend 140% more after a positive experience than customers who report negative experiences. In addition, 73% of consumers say a good customer experience is key in influencing their brand loyalties. Those loyal consumers are 5x more likely to purchase from a company again and 4x more likely to refer a friend to that company.

But, customers aren’t the only ones who benefit from improved CX.

Companies that excel at CX have 1.5x more engaged employees than less customer-focused companies. When companies have more engaged employees they outperform the competition by 147% and companies that excel at CX grow revenues 4% to 8% above their market. In addition, enterprises that lead in CX outperform laggards by nearly 80% and lower the cost of serving customers by up to 33%.

Has your company embraced the new age of CX?

 

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