If you have ever tried to prove that good customer experience equals more money for the company, you will know that this is more than complicated task. The data may not exist or be expensive to obtain. Unfortunately calculating the ROI of your CX efforts is usually one of the ways to get the needed budget for your strategy and bring everybody on board.
If you want your ROI model to be really useful, don't start too big or too broad. The most important thing is to start first by understanding to whom your will present the data and what are his/hers goals. Start by asking these two questions:
- What is our strategy? What are we trying to achieve as a company / brand?
- What are our KPIs? How are we going to measure that we succeed?
Use the answers to these questions, to build your business case and to prove the value of CX.
Read how we have used this model in our article in Customer Experience Magazine.