Recent questions during Customer Experience (CX) speaking engagements I have been involved with revolve around the ROI of CX. I can present hundreds of case studies of incredible ROI through the deployment of advanced technologies such as CRM, Contact Centers, Cross Channel UC and next generation Portals. However, put that hard dollar savings aside and please consider some of these bullets:
- Consumers will tell 16 people about subpar service encounters. Conversely, they will inform only nine others about positive, memorable customer service experiences.
- Consumers value quality customer service and will even pay more to receive it as 70% indicated they would spend 13% more on average with businesses that deliver stellar experience.
- Consumers will rebel with their wallets as 78% have canceled a transaction or taken their business elsewhere upon encountering a negative, frustrating customer experience.
If you don’t get serious about CX and your competitors do, then you move from ROI to potential staid business loss!