While Customer Experience leaders and professionals are quick to tout the importance of their craft, many are unable to clearly answer the question of the true value of CX improvements. Assigning a financial value to the impact of CX improvements has long been a challenge for many CX leaders. With that in mind, Forrester conducted extensive research on the dollars and cents value of CX.
We’re pleased to bring you this useful report from Forrester regarding the financial impact a CX improvement can have on your organization. Read the full report for more information on how leading organizations are placing dollars and cents values in CX improvements, and to learn how your organization can do the same.
This report shows the revenue potential from improving CX for 13 of the industries covered in Forrester’s Customer Experience Index (CX Index™). CX pros can use this data to make the case for investing in customer experience.
The report offers many key insights and takeaways, including:
- Industry-specific models demonstrate the revenue potential of CX improvements: Forrester used data from its CX Index methodology to model how changes in customer experience affect revenue potential for 13 industries. The models take into account industry-specific dynamics like barriers to switching and recommendation effectiveness.
- The revenue opportunity from improving CX varies by industry: For every industry Forrester analyzes in this report, they see positive revenue potential from improving CX. The revenue opportunity moves in lockstep with better CX for many industries. However, some industries see disproportionally bigger or smaller revenue increases as CX improves.
- CX pros should use the model to inform their CX business case: Insights into how CX drives revenue potential help CX pros make the case for CX by showing how much revenue their firms may be leaving on the table.
Download the complimentary Forrester Report to learn more about the financial impact CX improvements can have on your organization.
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