Monetizing Customer Experience Improvements
Many customer-focused executives face a challenge when trying to get executive buy-in for new customer-based initiatives. Traditionally it has been hard to track revenue and bottom-line impact to specific customer experiences. But new tools and processes now show that improvements in the customer experience actually do tie back to the bottom line.
Today's lead 1to1 Weekly article shows how Bank of New York Mellon was able to save $1.2 million by integrating customer information across the organization. Its toughest challenge was convincing the leadership to accept the new ideas. Sometimes taking a risk on the customer's behalf reaps rewards for both the company and customer.
What is the biggest benefit your organization has experienced by acting on customer insight?
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