Customer experience hits a wall
Principal Analyst Rick Parrish discusses the current state of CX — and how companies can overcome stagnation and drive revenue with great customer experience.
Customer experience (CX) is a centerpiece of companies’ business strategies — to reimagine, invent, or simply improve the experiences delivered to customers. It is not a vanity metric or hygiene; it is intrinsically tied to revenue growth or decline.
The business imperative is clear; the business case is overwhelming.
For several years, companies made gains, as measured through Forrester’s CX Index. But we are now seeing CX programs hit a wall as results plateau across the board for leaders, followers, and laggards.
The reasons why make perfect sense but signal challenges for companies already struggling with escalating churn rates. CX leaders have focused on the low-hanging fruit to minimize disruption and put points on the board, but customers want more. Companies need to do the hard stuff: Catalyze the change needed to create new value for customers with rapidly evolving preferences and expectations.
In this episode, Rick Parrish discusses the current state of CX and the need to revitalize (or, in some cases, reinvent) CX strategies to align with a customer-led, disruptive market.