Although many companies are still struggling to define and measure customer experience (CX), those that spread responsibility for CX across the organization, as well as concentrate on measuring long-term strategies, see a significant jump in sales and revenue, new research reveals.
According to CX Landscape: State of the Industry Report, conducted by Loyalty360, corporate leaders generally realize the importance of customer engagement and CX strategies. But many are unsure how to define customer experience, and because of this, are confused about how to manage it and measure success.
Successful companies "define CX in exhaustive, yet clear measures, use almost twice as many metrics to track CX effectiveness than the rest of the market, and employ short- and long-term metrics to gauge the effectiveness of CX — including complex metrics like ROI and profitability. And perhaps paramount: They include the customer as part of the brand’s reason for being,” Mark Johnson, CEO of Loyalty 360, noted in the report.