How to Build a Business Case for CX Technology
Most business leaders understand the importance of customer experience (CX). They know they need to take steps to improve CX , but don't know how to do it—or what technology they need. According to a 2022 Forrester survey of 484 global CX leaders, 64% say investing in new products and services to streamline CX is a high or critical priority. But nearly all who responded say it is at least mildly challenging to identify where to start to improve CX and customer journeys .
For many traditional companies, improving CX means investing in new technology such as customer journey management (CJM) software. But committing to new technology is not easy for many executives—even when it is budgeted for. Those in leadership positions often experience buyers' remorse, making them more reluctant to approve future technology purchases. According to a Gartner survey of 1,120 individuals involved in the evaluation and selection of technology products, 56% had a high degree of purchase regret over their largest enterprise technology purchase.
How can CX teams create buy-in from executive decision makers to purchase the right CX platform? How can they inspire confidence in leaders responsible for deciding how to invest company money?
CX leaders need to build and present a solid business case that demonstrates how the right solution will meet stakeholder expectations, address organizational priorities and realize better business results . Here's how to do that.
Four Steps to Build a Business Case for CX Tech Investments
Customer satisfaction scores (Cstat)
Net Promoter Score (NPS)
Churn rate
Repeat sales
Digital containment rate
Account activation rate
Quantifiable benefit attribution
Customer satisfaction scores (Cstat)
Net Promoter Score (NPS)
Churn rate
Repeat sales
Digital containment rate
