CX: How Does Your Organization Compare?

People readily say that a successful business must provide “good” customer service or a pleasant customer experience (CX). However, you might be surprised by some of these statistics:

  • 80-90% of service problems are leadership related (Deming, Crosby)
  • Less than half of US executives know who their most loyal customers are (Acxiom & Loyalty 360)
  • A 5% increase in customer retention increases a company’s profits by over 25%,. (Bain & Co)
  • 70% of buying experiences are based on how the customer feels they are being treated.(McKinsey)
  • It is 6-7 times more costly to attract new customers than it is to retain existing ones. (Office of Consumer Affairs)
  • 96% of unhappy customers don’t complain, however 91% of those will simply leave and never come back (1Financial Training services)

Given this data, one might reflect upon the amount of focus they place on the various elements – how does your organization compare?

Leave a Reply

Your email address will not be published. Required fields are marked *