Building the ROI Business Case in CX Transformation
According to Forrester, “A business case should always start with benefits. In fact, the single greatest mistake that CX professionals can make when pitching their projects is to lead with a budget request... another analysis shows that the largest companies in some industries can earn up to hundreds of millions of dollars in incremental revenue for every 1-point increases in Forrester’s Customer Experience Index (CX Index™) .”
The potential benefits from improving CX differ by industry and company. They include:
- increased customer retention
- higher cross-sell and upsell potential
- more new customers
- decreased cost to serve customers.