Three Ways to Map Your Customer Experience Metrics to ROI

Imagine you're heading up a team that just launched an ambitious customer experience (CX) initiative. You know you're making a positive impact based on employee and customer feedback, but when high-level stakeholders ask about how your initiative is boosting the company's bottom line, you don't have an easy way to provide a tangible, quantifiable return on investment (ROI).

You're not alone. According to Forrester research, just more than half (56%) of surveyed respondents report their organization measures the customer journey experience. But even though showing ROI can be a struggle for CX teams, the data proves that the consequences of a lacking CX strategy can be dire:

• Approximately one-third of organizations are receiving diminishing returns on relationships with existing customers.
• CX drives more than 66% of customer loyalty, according to Gartner.

Yet, despite 80% of business leaders reporting CX is a high priority and 90% of CX leaders saying customer expectations are at an all-time high, CX quality among U.S. brands fell for the last two years. That's why prioritizing CX is one key factor that can help your business stand out in today's competitive environment.

The most forward-thinking leaders realize that success comes not just from attracting new customers-you've also got to retain them. Creating customer loyalty establishes a foundation for your company to realize consistent returns on your CX investment. Read on to learn three ways to map CX metrics directly to ROI.