Grow your Business Exponentially by Improving your Customer Experience
Welcome to the May 2022 edition of Success Strategies. This edition continues our focus on growing your best in the best way, with excellent customer experience as the essential building block.
In my recent blog, Great Customer Experiences: The Key to Business Growth, I discuss the connection between great CX and business growth. Great CX is fundamental to profitable business growth. If customers like the service you provide, they will tell others. When they tell others, your customer acquisition costs go down. I suspect that those “referred” customers are likely to be the ones that your company can serve better.
I recommend Fred Reichheld’s Winning on Purpose for more reading on the connection between business growth and CX. He also outlines steps to use your NPS data to determine your “Earned Growth Rate (EGR),” which helps quantify how much referral activity is worth. The formula for calculating your company’s EGR is here.
I found an interesting article I’d like to share, Four Indicators Your Customer Experience Is An Afterthought. This piece from Forrester gives you a quick checklist to make sure your company isn’t deprioritizing CX in your growth strategy. For example, your CX metrics are only be used for bonuses.
Please mark your calendars for October 19 and 20 for our annual Client Conference to be held here in Charlotte, NC. More information is coming soon. Visit this page for more information and to give us your input on topics you’d like covered.
We wish all our US clients and friends a Happy Memorial Day on May 30. Please remember that Memorial Day honors those who lost their lives while serving in the US military. Conversely, Veterans Day honors those who have served in the US military.