In June 2022, the consumer sentiment index reached its lowest level since the 1950s, with a score of 50.2. This collapse in customer sentiment follows the economic uncertainty created by inflation, energy prices and changes to monetary policy.
These global developments are impacting the customer experience in every business. Yet, a study by Qualtrics has found that, across industries, bad experiences put a business at risk of losing an average of 9.5 percent of revenue.
It can be hard for businesses to strategize an effective response. Many have reduced spending, however, the situation calls for a laser-focus on ROI and investment for the future. Download the whitepaper Making the case for CX in times of uncertainty, to find out where and when such investments should be made and to better understand how customer initiatives impact acquisition, retention, spend, and cost to serve.
Download this whitepaper to discover:
• How customer lifetime value and customer unit economics can be re-calculated.
• The benefits that of linking CX and marketing investments.
• How to make a compelling business case for new strategies and investments.