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Finding the ROI of Customer Experience

In this issue:

Outlook

ROI Is Out There. You Just Need to Look for It.

Recently I spoke with an executive at a company that collects customer and employee feedback on the topic of ROI. He cited a logistics company branch that identified multiple new customer experience ideas with a potential return of more than 100...

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Benchmark

Measuring the ROI of Customer Experience

Many business leaders believe there’s a correlation between providing customers with great experiences and positive changes in business performance. After all, when customer experience metrics such as customer satisfaction and Net Promoter...

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Perspectives

Turn Customer Metrics Into Business ROI

Metrics are an important topic when it comes to customer experience (CX). They identify the value of good CX and provide a quantitative foundation for CX efforts to compete for funding with other areas of the business. More importantly, however,...

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The Omnichannel Evolution of the Contact Center

It’s a common experience—you must tell a customer service representative your account number moments after you inputted it into the IVR system. You have to explain to a contact center agent about the failed website self-service...

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Measuring the Omnichannel Customer Experience

Many companies struggle to connect the dots between customer experience measurements such as customer satisfaction and Net Promoter Score with business performance outcomes such as changes in revenue and profits, changes in customer lifetime value...

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Mind the Gaps (of Your CX Transformation)

Over the past decade, and specifically in the past three years, companies have enthusiastically embraced the importance of customer experience (CX) as a strategy. Long gone are the days of questioning the business value or question if it was a...

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Top Considerations for Mastering Digital Marketing ROI

Calculating the ROI of digital marketing activities has become the Holy Grail of marketing measurement. But like all other marketing campaigns, organizations must measure their return on investment to gauge their success or failure. But how do...

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Case Studies

Chegg Taps Into the Minds of Young Consumers

The back-to-school season is in full swing and companies are racing to sell books and supplies to students. But changes in the market have placed additional pressures on businesses. The digitization of education and competition from ecommerce...

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Generation Y Reshapes the Retail Landscape

Trying to understand Millennials or Generation Y (those born between 1980 and 2000) means deciphering a list of contradictions. Optimistic, risk-averse, coddled, and ambitious—all these terms have been used to describe Millennials. And with...

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Consumerism Grows in Health Insurance

Proactive outreach, preventative activities for at-risk customers, and individual attention can make a big difference to a customer’s relationship with a company. They also make a big difference to that company’s long-term bottom line....

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C-Suite Strategies

Measuring the Return of Employee Wellness Programs

If you work for a large U.S. company, chances are you’ve been invited to participate in an employee wellness program. Their popularity among employers is growing at a rapid pace. A recent study from MetLife reports that 72 percent of...

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The Economics Behind Employee Happiness

Happiness. For many, it is hard to achieve and even more difficult to define. Psychologists, social scientists, and even economists have studied happiness for years. One recent study conducted by University College London found that it matters...

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Industry Insight

Insurance Customer Playbook: Personalization Prevails

Our always on, digital world is transforming consumer expectations and the way they interact with businesses. This new reality means that delivering value to consumers has become more necessary, yet also more complicated for insurers. Pricing is...

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Money Talks

Walk into any bank’s headquarters and you will likely hear senior management discussing “multichannel strategy” or “omnichannel strategy.” They are ideas full of discussion, but still in the early stages of...

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4 Key Omnichannel Enablers

REGIONAL READINESS: Failure to acknowledge your geographic environment’s overall readiness—bank capabilities, market dynamics, customer willingness, and regulatory context—will result in the lack of critical support required for...

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Proof Points

Break Down the Contact Center Wall

Consumer banking is in the midst of a paradigm shift. Banks are looking to stand out from competitors with the types of customer experiences they deliver, not just the banking products they sell or fees they collect. The  “Amazon effect...

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Strategy Speaks

What Is the Economic Value of a Better Customer Experience?

One of the first and most difficult problems any company confronts when it tries to improve its customer experience is reconciling the time and expense required to deliver a better experience with the actual economic benefits of that improved...

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