Customer experience (CX) has been shown to have a measurable impact on a company’s financials. Per Forrester analyst, Harley Manning, a comparison of revenue growth of CX leaders to that of all CX laggards, showed that leaders collectively had a 14-percentage point advantage in compounded average growth rate of annual revenue. Forrester also reported that in the Internet service provider space, CX leaders enjoyed in 30.4 percent growth in the number of Internet subscribers versus CX laggards that showed only 6.5 percent growth.
The Forrester’s CX index measures how effectively respondents felt their needs were met and how they assessed the ease and enjoyability of their experiences. The index also includes items like average “hold” time and agent friendliness.
With rising customer experience expectations and high standards being set by digital brands, there is an urgent need for service providers to alter how they deliver customer support. Putting in place solutions that drive key customer-support metrics like call handle times, first call resolutions, and empowering CSRs with the right tools are prerequisites to delivering a great customer experience. Service providers who are leaders in customer experience will see stronger financial gains.
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