Business leaders have been turning to technology to improve customer interactions for years now, but the pandemic has put customer experience (CX) transformation into overdrive. CX leaders are being forced to rethink how they approach and invest in CX.
CX is critical to every business, but before the benefits of a successful CX strategy can be felt, business leaders must be capable of quantifying and measuring CX. Customer satisfaction (CSAT), net promoter score (NPS) and customer effort score (CES) are important KPIs, but because they do not directly translate to cost savings, these metrics often do not resonate with executives outside of their organization.
There are three primary areas to measure to demonstrate how CX drives business results:
The third area—cost savings—is where the ebook How to Prioritize CX in a Cost-Cutting Environment places its focus. CX leaders must be able to draw a clear line between CX initiatives and cost savings in order to succeed in a cost-cutting environment.
To successfully navigate the changing CX landscape, there are several steps you should take to build an effective business case. This starts with developing an understanding of “customer costs” and how to use them to build a simple benefit and ROI model that drives your business:
While doubling down on the benefits of CX and tying it to measurable ROI are the first steps in building a compelling and justifiable business case for continued CX investment, they can only take an organization so far without the right technology in place.
If you want to learn more about each of these steps and how to build a quantifiable business case for CX—as well as how to identify and adopt the right technologies to execute on it—download the How to Prioritize CX in a Cost-Cutting Environment ebook.
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