Does Customer Experience Drive Revenue Growth?
According to the Forrester’s report ‘Customer Experience Drives Revenue Growth, 2016’, yes it does!
In industries whereby customers have a choice of where to make their purchase, those companies who invest in improving customer experience and differentiating themselves from their competition, enjoyed much more revenue growth than those who chose not to invest in the customer.
In the retail industry, those companies who also invest in an online presence, also enjoyed a higher percentage revenue growth, according to the report.
Amazon is definitely a brand that springs to mind when thinking about customer and digital experience excellence, and again Amazon’s credentials are used in this years Forrester’s report. Amazon’s revenue growth over a 5 year period in the US is a massive 27.7%.
Argos have made huge steps to recover their brand presence in the retail market place by adding digital as a route to market. In fact, before Argos developed their digital proposition, the brand as a whole looked very much in danger of disappearing altogether, like so many UK high street retailers have done in recent years.
Providing a great customer experience appears to be critical for growth. Delivering continuous improvements and remaining innovative to keep pace with the expectations of customers and their journeys is now a significant challenge for operational Leaders. In addition, digital transformation may not only be needed to maximise revenue growth, but also to ensure that businesses remain solvent.
If you are considering recruiting for additional support to transform or improve your Operational or Customer Strategy, and require some permanent, interim or fixed term skilled resource, then I am presently working with some very experienced and dynamic customer experience Leaders and professionals. Please contact me on 07951 438538, or email: firstname.lastname@example.org to find out how I can help you and your business.
Have you read the Forrester’s report, ‘Customer Experience Drives Revenue Growth, 2016’? What are your thoughts? What do you think?
Hannah-Louise Cox is a Senior Recruitment Consultant at Douglas Jackson, specialising in recruiting executive level and senior management appointments across Customer Strategy, Customer Experience, Digital and Customer Contact.