I think it’s really a must-attend event for CX professionals. I’ve gone to other events in the past and this surpasses all of them.
Quantifying the ROI of Premium Product CX
January 14th, Successfully held
Here’s what we discussed:
This Research Q&A focused on proprietary research conducted by BuyerForesight and AugmentCXM. We uncovered key drivers for quantifying ROI to Customer Experience initiatives for companies selling premium products.
Where is the direct connection between CX metrics and business value? Will investing in CX grow revenue more than investing that capital elsewhere? Yes, it can. We discussed the specifics and the math behind them in this session.
This 90-minute invitation-only session had three parts:
Presentation of research findings
Q&A session around the findings
Roundtable discussion of the implications of the findings
Here is what we learned:
If you sell premium products, the ROI on CX investments can be exponential. Calculating that ROI can be tough, so Augment has built a model you can use to start.
Sixty percent of the 350 director-level respondents indicated that they doubt their brand’s ability to calculate the linkage between CX initiatives and business benefits. That is a problem. The overall health of a company is how happy the customers are. These directors need to understand the link because CX is a huge driver of revenue. If the directors and above cannot link the two together, then imagine how others below them in the organization must feel. They need to build stories around their CX initiatives so they can spread that knowledge across their organization.
CX has a disproportionate impact on three different types of product companies: those that offer necessary goods, those with commodities, and those that are premium brands.
Companies that offer necessities have diminishing relationships with their customers. Think of it like the DMV, or like Comcast. These companies can offer the worst customer experience ever, but you’re still going to need a license or an ISP. How these types of companies perform in the CX space will not necessarily drive additional revenues.
Request detailed session notes
We are careful about who we send this key document to. The session notes will be sent based on the request, provided your profile matches our qualification criteria.
About Augment CXM:
Collecting, reporting and analyzing all of your customer conversations can take hundreds of hours per month and may not give you the detail you need.
Augment CXM’s speech and text analytics reporting automates that process and takes no IT time to spin up.
Some of the things Augment CXM can tell you:
- The length of a conversation.
- What a person is talking about, driven by an AI conversation labeling engine.
- A way to read or listen to the important parts of the conversation.
- The survey score of this conversation, even if no survey was filled out on every turn of the conversation.
- Why your customer is reaching out and what their issue is.
Participation in the Research Q&A is free of charge to qualified attendees. Once you’ve completed our registration form, we’ll confirm your invitation and send you a calendar invite with a link to the meeting.
If you don’t qualify, we’ll suggest other learning events that may be a better fit for you.
Here’s what attendees at past events have said:
A lot of other conferences I’ve gone to are driven off a podium, someone presenting me a solution before they understand my problem. Here I have an opportunity to talk to my peers and learn from them.
I’m not part of some enormous crowd out there. I’m getting lot of interaction, hearing from people, their own personal stories. Individual examples of how people are leveraging their CX skills in their industry, in their business, in the work that they do everyday.
Very intimate, Very one-on-one! You are able to really get a lot of candid responses, so we’re getting a ton of value from that and a lot of valuable insights.