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Posted by Maxie Schmidt-Subramanian on April 23, 2014
In the age of the customer, you need to be obsessed with your customers. And that obsession can pay off big time — as we have shown over and over again: Years of Forrester data confirm the strong relationship between the quality of a firm's customer experience (CX) and customer loyalty.
And this means revenue growth! Find out how exactly we calculate the revenue upside in the report "The Business Impact Of Customer Experience, 2014." But here are the cliff notes: We built a model that shows how improving customer experience scores from below to above average affects loyalty, which in turn affects revenue in three categories:
When we looked at the data, this year, we found new and important developments that affect the revenue upside:
So who are the “winners”?
You can use our model to calculate the business impact of CX for your company! Download the interactive versions (the excel spreadsheet behind Figure 2 in the report). Input your own assumptions, and model a range of benefit scenarios.
We’d love to hear how this ROI calculation works for you. Also, if you want to share your best practices or challenges in making the business case for customer experience, please be in touch.