customer-experience Case Study
CX Efforts Cost Billions Each Year – Where is the Bang for the Buck in Your Business?
A top direct bank and payments services company had an initiative to better understand what the most important interactions were in the customer experience so they could emphasize these and improve the business.
The client also knew they would be challenged by leadership to not merely hypothesize the return on any investment made in improving the customer experience, but to prove it.
They had previously collected CX metrics but struggled to link these to business outcomes and gave Phoenix the opportunity to help with their new initiative.
Approach + Solution
We created a multivariate model to link the incidence of customers experiencing specific touchpoints, their evaluations of our client’s performance on these interactions and perceptions of their brand as well as their decisions and actions based on their overall opinion of our client.
We also developed a simulator so our client could evaluate impact and prioritize actions and then validated our model by tracking inputs and actual outcomes over time.