For Customer Experience Professionals

Primary Analyst Photo	Document Information	Rate this Document
	June 22, 2009 (updated May 4, 2010) Customer Experience Boosts Revenue Modest Improvements Can Bring In $177 Million To $311 Million Per Year by Bruce D. Temkin with Moira Dorsey, William Chu, Angela Beckers	Average: 9  (1 rating)

This is an excerpt

Executive Summary

Forrester's previous research has shown a high correlation between customer experience and three key elements of loyal behavior: willingness to buy more, reluctance to switch, and likelihood to recommend. But how does that affect a company's bottom line? To answer that question, we looked at the percentage of loyal customers within the customer bases of more than 100 companies. It turns out that customer experience leaders have an advantage of more than 14 percentage points over customer experience laggards across all three areas of loyalty. The annual revenue gains from a modest difference in customer experience can total $311 million for a large hotel. Banks and hotels garner the largest gains from their current customers, while airlines get the most from an increase in positive word of mouth. Customer experience professionals should use this information to build customized business plans.

TABLE OF CONTENTS

• Customer Experience Differences Create A Loyalty Gap
• Quality Customer Experience Generates Up To $311 Million Per Year

RECOMMENDATIONS

• Build Your Own Customer Experience Business Case
• Supplemental Material
• Related Research Documents

This is an excerpt

Buy Risk-Free

Price: US $499

Our Service Guarantee: If you are not completely satisfied with this document, notify Forrester within 24 hours of purchase for a full refund.

Already a Forrester Client?
Log in to read this document.