Len Devanna offers over 24 years of digital innovation experience at Fortune 500 brands. He helps companies with all aspects of their digital ecosystem, including online strategy, engagement marketing, and social brand management.
The opinions expressed here are my personal opinions. Content published here is not read or approved in advance by my employer and does not necessarily reflect the views and opinions of anyone other than myself.
Studies show that a customer who is fully-engaged with a brand represents an average 23% premium in terms of share of wallet, profitability, revenue, and relationship growth compared with the average customer.
It's hard to believe that it's been six years since Watermark Consulting started their Customer Experience ROI study. But as time passes, the case only gets more compelling.
Ask yourself - "Is customer experience truly critical to our business?" While everyone is going to answer with an emphatic yes, I suspect many of us have lost sight of what this truly means. Now ask yourself if you believe your brand is a leader in customer experience excellence. This one's a tad tougher, and the answer may serve as a bit of a wake up call.