Customer Experience - The key to sustained value creation

A common trait among leading companies is that the customer is at the heart of their strategy. Multiple successful companies that are performing exceptionally well are also offering a superior customer experience. This leads to a strong belief that customer experience plays a critical role in generating sustained value for businesses. To understand the influence of customer experience on financial metrics and qualify how it creates intrinsic and sustained value for a company, KPMG in India, in collaboration with EQUiTOR, undertook a detailed study that included a consumer survey. The report covers our key findings from our study.

CX plays a critical role in generating sustained value for businesses

• Superior CX can help businesses enhance their valuation by 125–400%+
• Unlocking the potential of CX can enable brands (across nine categories) to collect USD200 billion of value that they may have been leaving behind.

CX is a differentiator for acquiring and retaining customers and building loyalty

• 52 percent of a consumer's purchase decision is dependent on the experience the customer expects from the brand (not necessarily delivered currently by brands) as opposed to the reputation of the brand
• Our consumer survey highlighted that 63 percent of respondents are willing to pay some premium for enhanced CX
• CX is a critical lever for customer loyalty - Our consumer survey revealed that approximately 45 percent of respondents were extremely satisfied with the experience while using the brand and are highly likely to continue using the same brand
• Superior and targeted CX can convert customers into brand ambassadors
• By meeting CX expectations, companies can increase the probability of buyers noticing, recognizing and/or thinking of their brand in buying situations
• Consistent CX helps build “Best Brand” - 66 percent of respondents consider a brand as ‘best’ if it ‘provides a similar experience every time.

Organizational orchestration is a must for superior customer experience - Connected enterprises that align their front, middle and back offices create business value and drive sustainable growth.

CX is universally relevant across all industries, both B2C and B2B, - The CX expectations of B2B buyers are largely influenced by their experience in the B2C environment.

Check out our full report here: https://www.dhirubhai.net/feed/update/urn:li:activity:6928293287707504640