TORONTO, Canada, Sept. 12, 2024 (SEND2PRESS NEWSWIRE) -– The Verde Group, a leader in customer experience insights, is proud to announce the release of its latest white paper, “The Great CX Challenge: Linking Customer Experience Insights to Business Outcomes,” authored by Executive V.P., Dennis Armbruster. This comprehensive study addresses the critical disconnect between significant investments in customer experience (CX) solutions and the resulting business outcomes.
Image caption: The Verde Group White Paper.
As the customer experience industry continues to grow at a robust pace – projected to reach $120 billion by 2026 according to Yahoo Finance – the need for effective and actionable CX insights has never been more pressing. Despite the surge in investment and priority given by executive leadership, many organizations are facing persistent frustration and sub-optimal results.
KEY FINDINGS FROM THE WHITE PAPER:
The Disconnect: While 80% of businesses prioritize improving their CX, only 6% have seen a significant increase in performance, and over half of customers report a decline in service quality over the past year.
Legacy Methods Falling Short: Traditional CX research methods and beacon metrics often fail to correlate directly with changes in customer behaviors and financial performance, leading to organizational leadership dismissing the value of CX insights.
The E-A-B Model: The Verde Group introduces the E-A-B (Experiences, Attitude, Behavior) model as a solution to traditional CX measurement pitfalls. By focusing on customer experiences rather than attitudes, businesses can better understand the financial impact specific CX friction points have on customer behavior.
Revenue@Risk® Analysis: The white paper highlights the patent-pending Revenue@Risk® methodology, an advanced analytical approach developed by the Verde Group that links CX friction points directly to customer behaviors and financial opportunity. It also produces a new and financially correlated beacon metric that has proven to align with changes in business financials.
Dennis Armbruster, author of the white paper, stated: “The key to transforming customer experience insights into actionable business results lies in moving beyond outdated measurement methods. By focusing on the specific experiences that drive negative market action and financial risk, businesses can elevate the value of their CX insights in driving topline growth and profitability.”
KEY TAKEAWAYS:
Investment Gaps: Many companies are not fully utilizing CX insights to guide strategic decisions, often due to a lack of connection between insights and financial performance.
New Methodologies: The E-A-B model and Revenue@Risk® methodology offer a more precise approach to understanding and addressing CX issues.
Strategic Impact: Leveraging advanced metrics can help businesses not only drive positive shifts in customer behavior but also meaningful financial growth.
The white paper underscores the necessity for businesses to reassess their CX measurement strategies and adopt more effective approaches to achieve tangible improvements in their businesses.
To access the full white paper and learn more about the Verde Group’s innovative CX solutions, visit https://verdegroup.com/cx-challenge-white-paper/.
About the Verde Group:
The Verde Group is a leading provider of customer experience research and consulting services, specializing in linking CX insights to business outcomes. With over 20 years of experience, the Verde Group empowers organizations to understand and address customer friction points, driving growth and enhancing brand loyalty. Learn more: https://verdegroup.com/.
News Source: The Verde Group
