Trends Report

The Business Impact Of Customer Experience, 2011

Improvements Can Add More Than $1 Billion In Revenue For Wireless Carriers And Hotels

July 7th, 2011
With contributors:
Harley Manning , Jennifer Peterson

Summary

Customer experience professionals must clearly articulate the business benefits of improving customer experience. Years of Forrester data confirm the strong relationship between the quality of a firm's customer experience (as measured by Forrester's Customer Experience Index [CxPi]) and loyalty measures like willingness to consider the company for another purchase, likelihood to switch business, and likelihood to recommend. We used that data to build simple models that show how changes in loyalty associated with higher CxPi scores can affect a company's yearly revenue. This report includes interactive versions of those models to allow customer experience professionals to explore a range of benefit scenarios tailored to their company's unique situation and customer experience strategy.

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Forrester helps business and technology leaders use customer obsession to accelerate growth. That means empowering you to put the customer at the center of everything you do: your leadership strategy, and operations. Becoming a customer-obsessed organization requires change — it requires being bold. We give business and technology leaders the confidence to put bold into action, shaping and guiding how to navigate today's unprecedented change in order to succeed.

With
Harley Manning
and Jennifer Peterson