So, where is this revenue growth coming from?Ī good customer experience means your customers will spend more. Investing in CX initiatives has the potential to double your revenue within 36 months. The Temkin Group found that companies that earn $1 billion annually can expect to earn, on average, an additional $700 million within 3 years of investing in customer experience.įor SaaS companies in particular, they can expect to increase revenue by $1 billion. It’s no surprise that customer experience is the number one priority. We recently asked 1,920 business professionals to share their number one priority for the next 5 years.Ĭustomer experience (or CX) came in first (beating product and pricing). Now, an even more important success factor has appeared. It wasn’t too long ago when every business claimed that the key to winning customers was in the quality of the product or service they deliver. Processes and technologies need to change in order to provide a consistent experience across all platforms. Cross-device shopping via a wide range of channels has made it difficult for companies to maintain consistency.If you cannot keep up with their increasing demands, your customers will leave you. Instead, they stay loyal with companies due to the experience they receive. Customers no longer base their loyalty on price or product.But, why are so many companies focusing on the customer experience and what happens to companies that choose to ignore it? Customer experience has fast become a top priority for businesses and 2022 will be no different.

Using client base statistics