Blog Posts Process Management

Customer Experience Increases the Bottom-Line and Social Media Makes Changing the Customer Experience Easier

Blog: Forrester BPM Center of Excellence

91% of executives say customer experiences are critical or very important to their businesses, nearly 5,000 consumers prefer better customers experiences over lower prices and better customer experiences drive higher revenue and profits,–according to Forrester Research .

While the customer experience does provide bottom-line competitive advantages, most companies still struggle with implementing better experiences. An unexpected outcome of the CRM and Customer Service Social Media research was that many of the obstacles that companies face when implementing change initiatives are dissolved when the company deploys customer service social media. The result? Not only can the company transform customer service, but it can also transform the rest of the companies with solid changes that bring lasting results.

In surveying nearly 5,000 consumers, Forrester found that across many industries they prefer better experiences than lower prices:

When Forrester calculated the contribution to the bottom-line, for great customer experiences, it found that revenue could be increased substantially. In the case of a retailer, it could be nearly $70 Million:


And its not just Forrester that has found this type of result. Claes Fornell, at the Ross School of Business University of Michigan, has found that stock prices have a correlations with customer satisfaction. The American Customer Satisfaction Index (ACSI) shows:


Source: www.theacsi.org

Read more

Leave a Comment

Get the BPI Web Feed

Using the HTML code below, you can display this Business Process Incubator page content with the current filter and sorting inside your web site for FREE.

Copy/Paste this code in your website html code:

<iframe src="http://www.businessprocessincubator.com/content/customer-experience-increases-the-bottom-line-and-social-media-makes-changing-the-customer-experience-easier/?feed=html" frameborder="0" scrolling="auto" width="100%" height="700">

Customizing your BPI Web Feed

You can click on the Get the BPI Web Feed link on any of our page to create the best possible feed for your site. Here are a few tips to customize your BPI Web Feed.

Customizing the Content Filter
On any page, you can add filter criteria using the MORE FILTERS interface:

Customizing the Content Filter

Customizing the Content Sorting
Clicking on the sorting options will also change the way your BPI Web Feed will be ordered on your site:

Get the BPI Web Feed

Some integration examples

BPMN.org

XPDL.org

×