Presentation Transcript: Customer Experience Focused Transformation
CXT can impact the bottom line in a few ways because — rightly or wrongly — customers attribute every significant part of their experience — positive or negative — to their service provider. Surveys by the Strativity Group show that 70 percent of consumers are willing to spend more with businesses that exceed their expectations. The surveys also show that satisfied customers are three times more likely to remain loyal than dissatisfied customers. Strativity Group research indicates that when customers are unhappy, their likelihood of churning increases by a factor of ten. Other consequences of dissatisfaction include downgrades, cancelations and lower service usage rates, each of which translates into lower service provider revenues. The cost to acquire new customers can be high.
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