It’s a sad fact that CX can be a tough sell in some industries and organizations. There are many reasons why, starting with a poor understanding of CX (or how CX is different from customer service). Ultimately, CX can feel like a nice-to-have rather than a must-have. So how can CX professionals communicate the importance of their craft?
CX Value by the Numbers
We can start by emphasizing how CX can save and make money. Stats are your friends here. Take a look at these:
Increased revenue: 86% of customers are willing to pay up to 16% more if there’s a great customer experience. Customer spending increases by up to 140% following a positive experience.
Reducing costs: Improving CX can shave 33% off customer support spends.
Brand reputation: 64% of customers are more likely to recommend a brand that offers amazing experiences. [1]
Customer retention: 66% of businesses that prioritize customer experience see increased retention. [2]
And here’s a big win: 64% of consumers consider customer experience to be more important than price. [3]
And there’s another key fact about customer retention: It costs six times more to make a new customer than to keep a current customer.[4] Good CX is essential to keeping customers.
So just how does CX work its magic?
Making money by reducing friction
CX, by its very nature, works to make a better customer experience. By eliminating pain points along the customer journey and making transactions as smooth as possible, it makes it easier for customers to achieve their goal.
Let’s borrow an example from basic physics. Imagine you’re pulling a heavy box across a rough surface. The friction between the box and the surface slows you down. It makes it much harder to move the box, which means you exert more time and energy.
But once you get that box on a smooth surface, you can move it along easily. Your task is the same, but the process is much less onerous. You feel better about the whole thing. You might even volunteer to slide the next box along the floor because it was so easy.
In essence, this is exactly what CX does: it removes friction, making completing the task easier. Thus, it increases customer satisfaction and loyalty. It can also increase employee productivity for exactly the same reason – when their jobs are less complicated, they can complete more tasks using less time and effort.
Check out the links in Around the Web for more information on calculating ROI for CX, selling leadership on CX, and explaining the difference between CX and customer service. And as always, feel free to reach out to us if you need help reducing the friction in your CX journey.
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