Great customer experience earns money. Forrester found that brands that deliver great CX make 5.7 times more revenue than their competitors. Still, one of the biggest challenges customer experience managers face today is convincing the executive teams that investments in CX activities will create a return. Marketing and sales result directly in converted leads and revenue growth, but customer experience efforts are often seen as a “softer” part of the business. It is easy to calculate ROI when you have an instant commercial result, but how about CX metrics that show satisfaction and loyalty level?
Prove the financial value of CX and your NPS metrics to executive and commercial teams
Although research results from advisory companies speak in favor of investing in CX activities and becoming customer-centric, it cannot simply be translated to your business and specific case. It makes sense that a happy customer means more profits, but to allocate resources sensibly and get executive support it is important to talk specific numbers. With our guest Olga Guseva, we will discuss how to find the links between operational and CX metrics and between CX and commercial metrics. For calculating the commercial effect, we will take NPS as an example, the same system can then be used for other CX metrics.
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