How much is customer experience worth? | KPMG | AU

How much is customer experience worth?

How much is customer experience worth?

It’s clear that the customer truly is king. Customers live in a world with 24/7 access to almost anything and have many more options than ever before. This leaves companies eagerly vying for their attention, hoping to stand out in a crowded marketplace by providing a superior customer experience.

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Customer Experience

Mastering the economics of the CX journey

Companies are investing record amounts to enhance their customer experience, striving to stand out in a crowded marketplace. In fact, customer experience is expected to overtake price and product as the number one brand differentiator over the next 5 years. Almost nine out of 10 organisations say they expect to be competing primarily on the basis of how they interact with customers.

As customer experience rises in importance, organisations have to understand the value the experience brings to the customer and to the organisation. For many organisations, investments in improving the customer experience doesn’t generate enough value or provide an acceptable return on investment (ROI).

Customer Experience (CX) Journey Economics is about striking the right balance between what customers expect and what financially makes sense for your company to deliver. Organisations that master the economics of customer experience will be able to optimise spend and investments while delivering winning customer experiences.

Read this report to understand how companies can better determine the value of their investments while still delivering a winning customer experience.

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