It’s become fairly common best practices that today businesses must optimize their customer communications. With markets moving at an ever-faster pace and customers demanding ever-increasing amounts of personalized content, CCM is a must-have.
Seeing the business value of customer communications management (CCM) as a critical component of a larger customer experience (CX) management strategy begins with understanding the value of improving overall CX in the first place. Is there really a connection between cutomer experience and business performance? Yes, indisputably.
According to a recent Forbes Insights and Sitecore report, 94 percent of senior executives surveyed said keeping customers for life is a priority for their organizations. The report shows these same executives are currently very focused on customer experience management, or CXM. In Watermark Consulting’s 2014 Customer Experience ROI Study, we learn why: Analysis of the top 10 customer experience (CX) leaders among publicly traded companies over the past seven years showed that top CX leaders outperformed the broader market by far, generating a total return that was an astounding 26 points higher than the S&P 500 Index. In contrast, companies ranked in the bottom 10 in experience posted a negative return during the same period, even as the broader market rose sharply.
It’s not easy to convince decision-makers that now’s the time to invest in a new customer communications management solution for correspondence. The benefits can be hard to quantify, which makes it hard to sell. And let’s face it, very few people (aside from us, of course) get excited by the word “infrastructure.”