Al Urbanski author of Forrester: A Top Notch Customer Experience is a Sure Revenue Builder writing for DMNews.com, covers a new Forrester report on the opportunity and correlation between customer experience and growing revenue.
“High-quality CX is table stakes for large chains and all posted high scores on the indexes. But that was within the brick-and-mortar arena. The game changed markedly once retailers entered the online realm. Pure-play kingpins such as Amazon and Etsy blew away big retail names on the Web, and the highest scores posted by traditional retailers online equaled only middle-of-the-road pure plays. Amazon, the online-only CX leader, posted a four-year CAGR of 31%, 16 times greater than Walmart’s. And while Amazon’s growth came off a smaller base than Walmart’s, small is relative. The online marketplace tripled net sales from $18.7 billion to $55.5 billion from 2010 to 2014.”
Amazon will continue to offer breadth and convenience as their top customer experience draws; they are undeniably successful. However, there is room for any retailer who is committed to a differentiated customer experience. Urbankski highlights Forrester analyst Manning, asking, “Are competitors highly differentiated or a lot alike? What’s our position?” as well as “Is there a CX-based opportunity in our industry? If so, are we capable of seizing it?”
Differentiation is your strongest strategy against the online giants, and advocates are the tactical opportunity you can deploy to create a CX opportunity. Needle’s platform is how you can quickly offer that CX-based opportunity to start creating more revenue and growth.