Customer Experience For Dummies

Chapter 2

Dollars and Sense: The Financial Impact of Customer Experience

In This Chapter

Recognizing the customer/financial results logic path

Getting a high-level view of the benefits of an excellent customer experience

Looking at key customer metrics and using correlation analysis

Using customer experience to mold the “perfect customer”

Understanding the high price of poor customer experience

The late, great Peter Drucker — world-renowned management consultant and prolific author — once said, “The purpose of business is to create and keep a customer.” Which is why you see so many CEOs, CFOs, and others in the upper ranks of business leadership take to the podium during the quarterly meeting to exhort their troops to deliver the best customer service and experience possible.

And yet, when push comes to shove — when hard decisions, including ones that pertain to financial investments, need to be made — these same leaders are often reluctant to put their money where their mouth is. ...