Companies that invest 10 percent or more of their revenue in customer experience have lower attrition rates and higher referral rates and customer satisfaction scores than companies that invest less in customer experience.
Despite the importance the customer experience has on many corporate agendas, the state of customer experiences in many, if not most, organizations remains poor. For all the talk about customer focus and concern for customers, many companies do not demonstrate real caring for those people who actually keep them in business.
Customers are more interested in solutions that are customized, complete, and delivered quickly and simply than they are in products that target their emotions.
Everybody is talking about the 'customer experience' - but too many organizations are measuring it from their own rather than their customers' perspective. Lior Arussy reports on some shocking new research that shows most business leaders admit they do not deserve the loyalty of their customers.
Despite the tendency of companies in every type of industry to seek customer feedback through seemingly customer-centric surveys, the state of the customer experience and of the relationship between companies and customers remains tenuous.
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