MollyJ
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The revenue opportunity of listening to your customers
Understanding how a new solution will positively impact KPI’s and translating that into real revenue for the business is paramount for getting buy-in from key stakeholders and ensuring you’re positioned to show growth against metrics that are important to your department.Re: Forrester's Daunting CX Prediction and How CX leaders Can Overcome It
In support of the above, here are some recent data points that underpin many of the reasons CX leaders are struggling to equate customer experience wins into measurable revenue: 93% of CX leaders reported using a survey-based metric as their primary means of measuring CX, but only 15% of leaders said they were fully satisfied with how their company was measuring CX—and only 6% expressed confidence that their measurement system enables both strategic and tactical decision making (source here) Testament to the above: Only 16% of CX leaders say that surveys provide them with granular enough data to address the root causes of CX performance (source here) 76% of customers expect consistent interactions across departments. However, 54% say it generally feels like sales, service, and marketing don’t share information (source here) 37% of digital customer experience executives said data silos and/or fragmented customer data are hurting their digital customer experience initiatives (source here) 38% of CX practitioners say customer feedback insights never reach the relevant business units (source here) In the webinar mentioned in the article, Why CX Programs Struggle to Demonstrate Results , Chris discusses how leaders can solve these common problems head-on to create sustainable, revenue-driving CX programs. If you missed the webinar this last week, you can watch the on-demand recording here: https://bit.ly/3vtKYGp
