Invest In Your Customer Experience 

According to Forrester investing in a focused customer experience yields a 700%-plus return on investment over 12 years—an incredible ROI. How do organizations achieve such gains?

Most business leaders have bought into the concept of customer obsession or a focused customer experience. Centering your leadership, strategy, and operations on your customers — the very definition of customer obsession —will help you thrive.

7 statistics that show the return on investment for customer-focused companies

1. Customer-focused or customer-obsessed firms demonstrate 1.8 times the profit growth of non-customer-focused firms. (Source: Forrester, Customer Obsession Pays Dividends)
2. A customer-obsessed firm grows 2.5 times faster than non-focused ones and retain 2.2 times more customers per year. (Source: Forrester, Customer Obsession Pays Dividends)
3. Investing in customer obsession yields a 700%-plus return on investment over 12 years. (Source: Do You Believe Customer Obsession is Worth It in a Difficult Economy)
4. Organizations with high levels of alignment across their customer-facing functions reported 2.4 times higher revenue growth and twice the profitability growth of those with no alignment. (Source: Forrester, Align Around Your Customers To Power Growth In Today’s Economic Climate)
5. A 5% increase in customer retention rates can increase profitability by 25%. (Source: Forrester, Customer-led Growth is Getting More Attention Among B2B Firms. Should You Care)
6. Retailers that ensure their agents can answer all customer questions could see an additional 15.8 Forrester CX Index points per customer, resulting in $1.1 billion in incremental revenue. (Source: Forrester, Money on the Table: Proof that Customer Service Drives Revenue)
7. Retailers that improve their first contact resolution (FCR) could see an additional 18 CX Index points per customer, resulting in $1 billion in additional revenue. (Source: Forrester, Money on the Table: Proof that Customer Service Drives Revenue)

Forrester notes that call routing efficiency, coaching, and eliminating the silos between frontline customer service agents and organizational subject matter experts are all keys to first contact resolution and improving the overall customer experience.

Invest in being customer-focused

According to the Metrigy 2023 Technology Spending Forecast, 65% of companies plan to increase contact center spending by an average of 24% in 2023. A focused customer experience will be the top differentiator for brands by 2030, trumping employee experience, product quality, corporate responsibility, and price in that order.

Now is the time to invest in being customer-focused.