Delivering strong customer experiences (CX) ties directly to your bottom line. According to a 2017 study by professional services company KPMG, customer experience leaders achieve higher revenue growth than customer experience laggards, with the top 25 CX leaders bringing in more than seven times that of CX laggards in one year alone.
https://www.cmswire.com/customer-experience/5-customer-experience-trends-to-watch/
Small business is the engine of the American economy. Fortunately, it’s growing – 69% of small business owners expected revenue growth in 2017. And it’s robust growth, too: 38% of them expected their businesses to grow by more than 5%.
So how did these owners plan to achieve that much growth?
As you can see below, they’ve got quite a few ideas. But improving existing customer experience and retention tops the list.
https://www.business2community.com/consumer-marketing/customer-experience-retention-single-best-way-increase-revenue-02043183/
Corporate leaders expect chief marketing officers to have primary responsibility for growth strategies and revenue generation. CMOs need to find new routes to drive revenue. With various trends and outlined predictions for growth, one common thread is data. Data is now at the heart of customer experience, and companies are embracing advanced technology that helps them use data better.
http://www.marklives.com/2017/12/by-invitation-only-taking-customer-experience-to-the-next-level/
There have been cracks in the CX story. And now there is another article by a CX proponent, Charles Bennett of the Next Ten Years, Great Customer Experience does not always mean great business performance.
He goes on to say: “The theory says customer experience is proportional to revenue. At least that’s what “best practice” thinking has taught us. The better the customer experience the better the business result.
https://customerthink.com/use-customer-value-to-fill-in-the-cracks-in-customer-experience/
