ABCG Investment Rationale
Quantifies commercial impact and investment return from CX development.
- Firstly, we work with the organisation to understand the availability of data sets and the current insight that is held on the impact of known CX drivers on revenue and profitability
- Next, we work with the management team to identify any missing data, challenge existing hypotheses on CX driver correlation and cause-effect relationships with advocacy and profitability.
- Then, where necessary, we test these hypotheses and build a robust model against which to build the Customer Experience Business Case.
- Builds and strengthens the organisation’s CX decision making based on objective data-based decisions.
- Allows the organisation to track progress on implementation of CX actions and isolate their impact on bottom line performance.
- Allows the C-suite to prioritise CX investment decisions based on ROI and fosters a common understanding on the benefits of CX amongst the leadership team.
Leaders tell us that one of the most significant barriers to CX improvement is investment justification. CX projects start with great excitement and enthusiasm but often get downsized or delayed when they reach the Board because the value of the project(s) is unclear or poorly articulated.
“Money is king” and quantifying the benefits of CX improvements is crucial if the business is to move beyond purely emotional or experiential reasoning. Those leaders in charge of operations or finance need hard, robust facts before they will support investment.
ABCG are experts at supporting the C-suite in developing a CX business case. We help clients look at the opportunity from many angles. We often find that a good starting point is looking at what the current Customer Experience costs in terms of lost revenue and profitability rather that what new investments might deliver.
One thing is for sure, unless the C-suite are united around a common understanding of what CX will deliver financially any initiative is doomed to mediocrity and leaves the door open to more sophisticated competitors, who will over time, take market share from you and build a significant barrier to competitive entry.
At ABCG we say it is not acceptable to think that CX intuitively builds bottom line performance. Facts are required and we are here to support you on this.