Hats off to Dan Hesse, the one-time CEO of Sprint, for summarizing why investing in the customer experience is so important.
A good customer experience is actually less expensive to provide than a poor one and customers will pay more for a good one than for a bad one. Nothing drives profitability like an excellent customer experience does. – Dan Hesse
- Is it actually less expensive? – If you win a customer only to lose them because of poor service, your company wasted marketing expenses.
- Will customers pay more? – Numerous studies have shown that customers pay more for better customer experiences. So companies that deliver a superior service can charge (and deserve) more.
- Does it really drive profitability? – If costs go down and revenues go up, profitability increases. QED.
The pivot point is that to reap the rewards of positive customer experiences, companies must treat them as an investment and not a cost. Plus you’ll make people happy in the process.