Want to boost revenues by 19% in one year? Invest in a customer experience strategy
A new global study by Avanade and Sitecore quantifies what you’ve always intuitively known: brands that invest in creating great customer experiences reap significant financial benefits.
We’ve been hearing about it for decades, in everything from Harvard Business Review articles to Forrester reports: customer experience is the single most important determinant of business success. “But,” we wondered, “since it’s so important, surely someone has quantified the business impact that a great customer experience can make—right?”
Wrong. Sitecore and Avanade went on a search for research that showed the quantifiable benefits of a customer experience strategy. We found lots of research saying that customer experience is important, and that companies need to focus on it. However, none of these studies included hard numbers on the benefits that could be derived; we found lots of fluff but the hard details were few and far between.
Then we wondered, “Why don’t we find out?” Since Sitecore and Avanade are leaders in digital marketing technology and in building digital marketing solutions that transform customer experiences, and we saw this as an opportunity to conduct our own research.
How great CX drives revenues
We hired Vanson Bourne to conduct a global survey, and the results will, in pop-speak, blow your mind: The study, conducted with 880 decision makers in six countries, found that for every dollar invested in improving the customer experience, businesses generated three dollars in return. Brands investing in customer experience have seen a 19% increase in revenue in the past 12 months.
Furthermore, the research indicates that improving the lifetime value of customers brings a host of financial benefits; the respondents estimate that improving the lifetime value of customers has resulted in an average 20% increase in return on marketing investments.
Learn more—get our white paper today
Those are powerful numbers that mean business. If your marketing organization is looking for data points to validate the critical importance of what you do, this is the study that will provide them. Download the Sitecore/Avanade white paper, Customer Experience and your bottom line, which explains:
- Why it’s important to adopt a customer experience strategy
- The benefits of a customer experience strategy, and how to achieve them in both the short-term (next 12 months) and long-term.
- How customer experience management technology plays an essential role in attaining associated revenue and customer loyalty benefits.
Get the facts you need, today, to build a business case you can take straight to your executive team.
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