Gartner Research

CMO Insight: How to Justify the Business Value of Customer Experience Investments

Published: 04 January 2018

ID: G00333268

Analyst(s): Augie Ray

Summary

Customer experience is more than just the right thing to do. It's a recognized strategic imperative in need of explicit budget support. CMOs can use this research to understand how to make a sound business case for customer experience investments.

Table Of Contents

Upshot

What You Need to Know

  • Customer Lifetime Value Drives Profitable Growth
  • Five Principles Drive Your CX Investment Priorities
    • No. 1: Encourage Customers to Spend More With a Better CX
    • No. 2: Reduce Churn by Lifting Customer Satisfaction
    • No. 3: Use Customer Segmentation to Focus on the Highest-Value Customers
    • No. 5: Reduce Costs and Negative WOM by Addressing Drivers of Dissatisfaction

What You Need to Do

  • Do This First
  • Priority Actions for You
  • Priority Actions for Your Team
  • Priority Actions for Your Peers

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