❔"How do you define value creation from customer experience?"❔
This is a multi-million dollar question depending on the industry that you are in and the organization that you are talking about. This is something that plagues Customer Experience (CX) leadership and management: when people start asking, "Is customer experience, you know, worth it?"
C-level leaders to customer-focused employees, even organizations who are running pretty mature CX programs, often start wondering how their efforts are paying off. This is something that we have to talk about more. Wherever you sit in your organization, there are ways to connect the dots to real value creation.
Customer experience can absolutely be tied to three areas of specific tangible returns on the investment - creating that value for your organization:
1. Higher retention rates and lower customer churn lead to real value.
2. Customers who stay longer with your brand also spend more with your brand.
3. Customer referrals lead to immediate returns
We'll tackle each of these in this episode.
Resources Mentioned:
Experience Investigators Learning Center -- experienceinvestigators.com
Free CX Success Statement Workbook -- bit.ly/cx-success-workbook
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