Customer Experience 3.0

CHAPTER 3

Jump-Starting Action by Quantifying the Revenue Cost of Inaction

Unless you make a convincing case, finance executives will starve your CE enhancement initiatives. Many are penny-wise and pound-foolish, failing to invest in CE because the revenue and profit payoff is not immediately obvious. As a result, companies often create processes that save money in the short term while alienating customers and driving away long-term revenue streams.

For example, if customers of one leading technology company call for assistance 91 days after purchase, and the customer does not have an extended warranty beyond the first 90 days, the company flatly refuses any support. This is because the finance and product management departments both believe ...