Companies with high customer experience (CX) capabilities are financially stronger because of those CX capabilities.  (Recall a previous post, which asserted that recessions affect the CX based on both corporate strength and existing CX capabilities.)

For reference, here is link to a Harvard Business Review whitepaper that should prove useful to those trying to gain support for CX improvements.  Among the key lessons:

  1. Create a customer-centric culture
  2. Think like the customer
  3. Give the business control of customer experience
  4. Tame channels and data
  5. Embrace analytics
  6. Expand the definition of customer experience success
From: Lessons from the Leading Edge of Customer Experience Management

A thought-provoking article penned by Amanda Davis on Customer Think titled “Customer Experience Leaders & Laggards – What’s the Difference?” suggests 5 key principles to transform from CX laggard to leader:

  1. Value your Customer
  2. Establish an Experience Roadmap
  3. Build a Customer Centric Culture
  4. Give your Business Control
  5. Embrace technology as an Experience Enabler

The pivot point is that investing in a company’s CX yields tangible business benefits.  Investing during the good times develops and magnifies corporate strength.  If that isn’t enough of a reason, those investments also position companies to recover better from inevitable economic downturns.

Building Financial Strength through CX
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