Member Since: 15th Mar 2008
6th Feb 2017
Sorry, Karine, but this article just doesn't cut it. HOW MUCH customer retention do you get for the cost? HOW MUCH new business in the future will be produced for how much investment now?
With respect, I'm afraid that the reasoning in this article is why marketers can't communicate very easily with finance people.
The only way to justify CX improvement expenditures in financial terms (and this is what is meant by a "business case") is to start with a reasonable model of customer lifetime values, and to proceed to inferences about how those lifetime values will be affected by current improvements (or deterioration) in the CX.
15th Mar 2008
Not only do I believe that the data already available to marketers is not being well used, I think even with more and better numbers, there is a "judgment" and "creativity" to the marketing task that will never be replaced by statistics and multivariate correlations.
The single most important factor in the success of a customer-centric movement is not access to and deployment of numbers, but the "culture" that permeates the organization. DO PEOPLE REALLY HAVE CUSTOMER INTERESTS AT HEART?
That is the critical ingredient.