It’s True: CX Can Make or Break a Brand

As customer demands and economic trends change constantly, “CX agility” has become the gold standard for businesses today. Exactly what is it? CX agility is the ability of a company to adapt its processes quickly in response to rapidly changing customer needs and market conditions. The brands with finely tuned CX agility keep an eye on evolving consumer preferences, innovate accordingly, and consistently watch for new opportunities that will drive growth. And agile CX generates massive returns when the customer is placed at the top of the pecking order. The facts speak for themselves – research shows that organizations with agile CX achieve the following:

  • 2.2 x greater annual increase in consumer satisfaction
  • 3.6 x greater annual increase in customer retention
  • 3.3 greater YoY increase in cross-sell/upsell revenues
  • 2 x greater YoY improvement (decrease) in service costs
  • 48% more YoY growth in annual revenue
  • 2.4 x greater YoY increase in customer lifetime value
  • 80% greater YoY increase in profit margins

While staying ahead of the competition in the CX field can be challenging, it’s clear that quick pivots can yield exceptional results. That said, the competition in the marketplace is fierce. Additionally, there are so many ways and platforms for brands to engage with their audience, that consistency can be affected – to their detriment. This is where a highly responsive CX strategy can truly make a difference.

The pandemic tested many organizations’ ability to deliver smooth customer experiences in an agile, flexible fashion. Lockdowns affected businesses and customers alike. The brands that rose to the challenge have been those that are staying ahead of the curve. Companies like Moen – a leading North American faucet brand – realized that paper-based processes were impeding their ability to deliver exceptional customer experiences. When this world-recognized brand streamlined its sales and service processes via cloud-based CX technology, the results were impressive: sellers improved close rates, customer service agents provided faster resolution, and lifetime customer value skyrocketed.

And that’s just one example. However, the common thread to all business success is the quick pivot: even brands with impressive lists of satisfied customers need to remain agile and display diligence towards0 constant adaptation and innovation. The bottom line is that a seamless customer experience (aka flawless CX) can make or break a brand. In fact, the stats are in, and 84% of companies that improve their CX are seeing increased revenues. And let’s not forget: improvement = agility.

With the understanding that there has never been a greater emphasis on elevating the customer experience, this is where an experienced BPO / outsourcing company can become part of your corporate strategy. Anexa is an award-winning customer service outsourcing company, poised to take your customer service to the next level – which is exactly where it needs to be in 2022 and beyond. At Anexa, we place “customer experience” at the forefront of all our customer-centric services. Our teams are hired for soft skills and trained to represent your business exactly as you would: putting your customer first and remaining in an agile CX position.

Contact Anexa today for more information on how to deliver an exceptional customer experience.