Companies may have deep expertise in the products and services they sell, but not necessarily in how to improve customer experience (CX) elements that surround them.
If sales decline, for example, is it because the products are less popular, or are customers having a difficult time finding what they are looking for when they visit your website, or is the checkout process taking too long? If they leave a negative review of a service your company offers, do the right people within the company know what happened, understand how to rectify the issue through training, policy or other changes?
Companies that know how to improve customer experience study every step the customer takes as they develop a relationship with their brand. They know that doing so can help them build momentum to continue scaling their business.
This could explain why Gartner® found that organizations that demonstrate how customer satisfaction affects areas such as growth, margin and profitability are 29% more likely to secure additional CX budget.1