Free White Paper – The Business Impact of Customer Experience

Moxie Software have released a new whitepaper “The Business Impact Of Customer Experience, 2013”.

Years of Forrester data confirm the strong relationship between the quality of a firm’s customer experience (CX) and loyalty. They built three simple models to estimate the impact customer experience has on three loyalty measures: willingness to consider the company for another purchase, likelihood to switch business, and likelihood to recommend.

Key Takeaways

Customer Experience Correlates To Loyalty

Forrester once again found a high correlation between consumers’ rating of a firm in the Customer Experience Index (CXi) and their willingness to buy from the company again and their likelihood to recommend that company. Also, the higher the CXi score is, the less likely a customer is to defect, although that relationship is not quite as strong.

Better Customer Experience Can Mean Millions In Revenue

Firms with high CXi scores have more customers who purchase again, don’t switch to competitors, and recommend the company. Our models show that the loyalty-based revenue benefit for firms going from below- to above-industry-average CXi scores ranged from $88 million for consumer electronics manufacturers to $3.1 billion for wireless providers.