The Return of Investment of Customer Experience
Summary from our research, findings, and cases
1. Is CX worth the Investment?
As a CX leader you are often asked to quantify the benefit of your program. Be it for either budget justification or to convince business leader to support your program, you have to have your facts lined-up to clearly articulate the benefit great customer experience delivers.
The good news is: The topic of ROCX (return on investment for customer experience related investment) is thoroughly researched and documented. This short summary gives you an overview of current external research as well as insight from our own clients.
2. Overview
The following overview summarizes the effects of great customer experience on the sales side, the cost effects, as well as for the cost of capital.
The implementation of a customer experience program delivers benefits in three areas. First, a positive effect on revenue is to be expected. Secondly, improvements of the customer experience will drive cost down. Lastly, the two previous effects will lead to reduced cost of capital.
3. Determine your own ROCX Story
External research is profound and useful. However, your internal stakeholders will believe you most when you can prove your own ROCX.
We have worked with clients around the world to pragmatically analyze their data and tell them their own ROCX values in the same format as the findings on the previous page.
Let us help you to achieve the same and let your CX program become part of the stories your executives quote on stage, reference publicly, and keep an eye on in the management teams!
If you’d like us to work with your team and determine your own ROCX results and success story to tell, please contact us to schedule a convenient time and discuss the approach most suitable for your specific needs and objectives.