Slowing Economic Growth Threatens Customer Experience Focus

The World Bank recently predicted that the global economy will grow by 3.0% in 2015 — down from the 3.4% growth it forecast in June 2014. This lower growth projection reflects a less optimistic view of many of the world's economies and is the kind of environment that drives governments and businesses alike to seek opportunities to cut costs. In particular, they pull back on investments that they believe do not directly contribute to revenue generation — and customer experience (CX) programs are a prime example of such an investment at many organizations. CX professionals need to take action to bolster support for their programs well before budget cuts become a topic of discussion, as limiting existing CX programs will remove the only significant lever that organizations have to remain competitive in the age of the customer. This report provides guidance on the steps that CX professionals should take to defend their programs, resources, and roles in times of economic uncertainty.