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What Is CX?

CX, or Customer Experience, is an umbrella term that encompasses all interactions between customers and companies. It includes everything from the first contact with a brand through post purchase support. The goal of CX is to create a positive relationship with each customer so they will become loyal advocates who spread the word about your business. Loyal customers build stronger relationships over a period of time and increases overall revenue.

Why Invest In Customer Experience?

The customer experience and customer engagement market is projected to surpass $100 billion in annual worldwide revenue by 2026. 80% of customers now consider their experience with a company to be as important as its products. Half of customers surveyed by PSFK say they switch to competition after just one poor experience.

If you want to learn more about strategically investing in CX, contact the PSFK research team.