Let’s start with a quick equation:
🤑 Customer Feedback ROI = 100 x (Benefits – Investments) / Investments
In a recent study (which matches our experience), many CX leaders find it hard to quantify the impact 💥, or the ROI of customer feedback and customer experience (CX) on business outcomes and metrics.
But in a successful business, it’s imperative that the benefits of initiatives are not only defined in a qualitative way, but also in quantitative, measurable numbers.
And that’s exactly why you should calculate the ROI of customer feedback & CX. It’ll give you the ability to guide your investments to produce the greatest revenue return and ensure the sustainability of your business.
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