Best Practice Report

The Cost Of Not Being Customer Obsessed

Don’t Lose Millions By Scaling Back Customer Initiatives

June 8th, 2023
Shar VanBoskirk, VP, Principal Analyst
Shar VanBoskirk VP, Principal Analyst
Corey McNair, Sr Consultant
Corey McNair Sr Consultant
With contributors:
Rick Parrish , Ananya Suresh , Shayna Neuburg

Summary

Don’t stop spending to become more customer obsessed no matter how tight your budgets are. Forrester’s calculations show that cutting funding for efforts critical to customer obsession — like setting up a customer insights function, trialing emerging technology, building a voice-of-the-customer (VoC) program, and coaching teams — can cost up to $862 million depending on your customer and company type. Use this research to calculate the risk associated with defunding customer obsession.

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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.