2017 FORRESTER REPRODUCTION PROHIBITED WEBINAR How To Make
© 2017 FORRESTER. REPRODUCTION PROHIBITED.
WEBINAR How To Make The Case That CX Transformation Is Both Important And Urgent Maxie Schmidt, Principal Analyst Samuel Stern, Principal Analyst June 7, 2017. Call in at 10: 55 a. m. Eastern time © 2017 FORRESTER. REPRODUCTION PROHIBITED.
We work with business and technology leaders to develop customer-obsessed strategies that drive growth. © 2017 FORRESTER. REPRODUCTION PROHIBITED. 3
With you today: Samuel Stern Maxie Schmidt Principal analyst, CX team © 2017 FORRESTER. REPRODUCTION PROHIBITED. 4
© 2017 FORRESTER. REPRODUCTION PROHIBITED. 5
84% of CX pros say that their firms place CX as a higher priority than two years ago. 76% of executives say that improving CX is a high or critical priority. Source: Q 4 2015 Forrester/Heidrick & Struggles Global Evolved CMO/CCO Online Survey and Forrester Data Global Business Technographics® Priorities And Journey Survey, 2016 © 2017 FORRESTER. REPRODUCTION PROHIBITED. 6
Four in five customers have OK, poor, or very poor experiences. Base: 122, 500 US online adult customers (age 18+) of at least one industry who interacted with that industry within the past 12 months; Source: Forrester Data Customer Experience Index Online Survey, US Consumers 2016 © 2017 FORRESTER. REPRODUCTION PROHIBITED. 7
Key challenges facing CX leaders stem from lack of executive commitment © 2017 FORRESTER. REPRODUCTION PROHIBITED. 8
Urgency + Bait + Direction = True executive commitment for investing in CX © 2017 FORRESTER. REPRODUCTION PROHIBITED. 9
Urgency: Focus on CX is a must in the age of the customer Source: Leadership In The Age Of The Customer Forrester report © 2017 FORRESTER. REPRODUCTION PROHIBITED. 10
Three trends create more pressure than ever to speed up CX transformation efforts © 2017 FORRESTER. REPRODUCTION PROHIBITED. 11
Bait: Improving CX improves profitability Topline impact Bottomline impact © 2017 FORRESTER. REPRODUCTION PROHIBITED. • Retention • New customers • Cross- and upsell • Price premium • Cost to serve • Acquisition costs • Employee acquisition costs 12
CX Loyalty Revenue Source: Drive Revenue With Great Customer Experience, 2017 Forrester report © 2017 FORRESTER. REPRODUCTION PROHIBITED. 13
$873 million $278 million $5 million © 2017 FORRESTER. REPRODUCTION PROHIBITED. 14
The results of great CX speak for themselves! © 2017 FORRESTER. REPRODUCTION PROHIBITED. 15
Have you successfully made the case for investing in CX at your company? YES / NO If YES: Which business benefits did you use in your case? › Savings from reduced service costs › Increased revenue growth › Improve profit margins › Increase customer retention › Reduction of regulatory or compliance risks › Increased employee retention and productivity › Other © 2017 FORRESTER. REPRODUCTION PROHIBITED. 16
Direction: There is a recipe to accelerate CX efforts Source: Why CX? Why Now? Forrester report © 2017 FORRESTER. REPRODUCTION PROHIBITED. 17
Get better at CX execution competencies! Source: The State Of CX Management Maturity, 2016 Forrester report and Forrester’s Q 4 2015 US Customer Experience Maturity Online Survey © 2017 FORRESTER. REPRODUCTION PROHIBITED. 18
Identify key CX improvement priorities © 2017 FORRESTER. REPRODUCTION PROHIBITED. 19
Optimize CX rather than maximize it CX Index © 2017 FORRESTER. REPRODUCTION PROHIBITED. CX Index 20
Urgency + Bait + Direction = True executive commitment for investing in CX © 2017 FORRESTER. REPRODUCTION PROHIBITED. 21
Q&A © 2017 FORRESTER. REPRODUCTION PROHIBITED. 22
Maxie Schmidt mschmidt@forrester. com Sam Stern sstern@forrester. com Thank you FORRESTER. COM © 2017 FORRESTER. REPRODUCTION PROHIBITED.
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