From Impressed to Obsessed: 12 Principles for Turning Customers and Employees into Lifelong Fans

CHAPTER 3

The Economic Calculus

Imagine if customers were willing to pay 16 percent more for your products and services, choosing to do business with you despite the availability of cheaper alternatives. Imagine if you could reduce operating expenses by 13 percent while simultaneously improving your customer experience and earning top consumer ratings for your industry.

You don’t have to imagine, because these are both well-documented examples of the impact that a great customer experience can have on a company.

To understand the economics and return on investment (ROI) of customer experience, look no further than your company’s income statement, because the customer experience influences two key line items in that ledger.

First, a great customer ...