{"id":116063,"date":"2021-01-19T05:16:43","date_gmt":"2021-01-19T13:16:43","guid":{"rendered":"https:\/\/www.questionpro.com\/blog\/?p=116063"},"modified":"2021-01-19T05:16:43","modified_gmt":"2021-01-19T13:16:43","slug":"customer-experience-and-profit","status":"publish","type":"post","link":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/","title":{"rendered":"Customer Experience and Profit"},"content":{"rendered":"<p><b>CX Can Be Profitable, but\u2026.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">Over the years, there have been many claims, articles, presentations and discussions about the impact of Customer Experience and profitability.\u00a0 Every provider out there believes in the idea that improved customer experience will yield greater profitability, and QuestionPro is no different as demonstrated <\/span><a href=\"https:\/\/www.questionpro.com\/blog\/improve-the-roi-of-customer-experience-program\/\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The impact might be measured in various ways, the magnitude of the profitability may differ within each company and there will always be exceptions that cannot be proven.\u00a0 Regardless I truly believe that CX is a way to be more profitable, that satisfied customers (or Promoters or Delighted Customers) will ultimately spend more of their money with that company, overall and as a share of their spend in that category.\u00a0 If one is unsure of this idea at this point, you should take a moment to validate this idea for your own firm.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, while I am an operations minded individual that focuses on profit above most metrics, I still have the belief that you are focused on CX as an organization solely for profitability, then you are likely not implementing a program that maximizes profitability.\u00a0\u00a0<\/span><\/p>\n<p><b>When Profit Reigns Supreme\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">It may seem contradictory, because I do believe that profit maximization is a great selling point within an organization to get buy-in for a large CX program.\u00a0 I would also state that an ongoing analysis of this profitability and the relationship to CX should exist.\u00a0 However, profit should not be the only determining factor in a CX program &#8211; large or small, departmental focused or enterprise-wide.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are several reasons for this standing.\u00a0 The first is an increasingly common reason, Corporate Social Responsibility (CSR).\u00a0 According to <\/span><a href=\"https:\/\/www.businessnewsdaily.com\/4679-corporate-social-responsibility.html\"><span style=\"font-weight: 400;\">some research<\/span><\/a><span style=\"font-weight: 400;\">, up to three-quarters of individuals are unlikely to purchase from companies that do not behave ethically based on their own standards, which can include how they treat their customers and employees.\u00a0 While this is not measured on the bottom line or easily computed, it is a reality that will affect a business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The second goes hand in hand with the first, and that is the reputation of the company in the public eye &#8211; Marketing.\u00a0 No one forgets the stories of someone having their package thrown from a distance at the door like <\/span><a href=\"https:\/\/www.ksdk.com\/article\/money\/consumer\/fedex-delivery-driver-fired-nest-cam-shows-throwing-package\/63-6df5ed9e-a05a-4d59-a29b-981526ef3fa1\"><span style=\"font-weight: 400;\">this one<\/span><\/a><span style=\"font-weight: 400;\">.\u00a0 If the true reason behind a customer experience program is just a measurement or for profitability, your organization will not embrace\u00a0 the customer experience culture, and it will be demonstrated.\u00a0 Conversely, there are also many great stories that can come from a good customer experience culture, in fact so many that a company would have a difficult time picking the best ones.\u00a0<\/span><\/p>\n<p><b>Cost Measure versus Experience\u00a0<\/b><\/p>\n<p><span style=\"font-weight: 400;\">I think the last reason you cannot base it solely on profit, is that if you are measuring <\/span><a href=\"https:\/\/www.questionpro.com\/help\/customer-experience\/cx.html\"><span style=\"font-weight: 400;\">Customer Experience<\/span><\/a><span style=\"font-weight: 400;\">, it will cost money.\u00a0 Our services are not free and neither are the services of QuestionPro competitors.\u00a0 There is also a cost in implementing CX internally, between providing internal CX leadership, training the staff on both tools and outcome scenarios, and even the impact of those delivering the experience (yes, I\u2019m referring to the <\/span><a href=\"https:\/\/www.questionpro.com\/workforce\/employee-experience.html\"><span style=\"font-weight: 400;\">Employee Experience<\/span><\/a><span style=\"font-weight: 400;\"> aspect of Customer Experience).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If profit is the sole reason for having a customer experience, it would just get mandated.\u00a0 One could easily implement a policy of \u201czero customer complaints\u201d &#8211; if a customer complains, then someone gets fired.\u00a0 However, we recognize that this is impractical.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Usually this shows itself in different &#8211; and more subtle &#8211; ways.\u00a0 If you are asking to reduce your CX spend or budget annually or when the program is paused due to unforeseen circumstances (which can include a pandemic or just bad press so you don\u2019t want the scores to go down).\u00a0 The reality is that even in the worst of times, one should be looking to do <\/span><span style=\"font-weight: 400;\">more <\/span><span style=\"font-weight: 400;\">with customers and understanding the customer experience, not less.\u00a0 When an unusual situation occurs that can severely negatively affect the brand in the eyes of the customer, it would be a time to increase the impact in their eyes.\u00a0 Your loyal customers will appreciate that.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">If you\u2019re really just measuring customer experience for profitability, then you are really missing the point.\u00a0\u00a0\u00a0\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><strong>QuestionPro offers some of the most advanced customer experience tools available.<\/strong> Gain valuable insights into your customers\u2019 thoughts and feelings using\u00a0<\/span><a class=\"_e75a791d-denali-editor-page-rtfLink\" href=\"https:\/\/www.questionpro.com\/cx\/\" target=\"_blank\" rel=\"noopener noreferrer\"><span data-preserver-spaces=\"true\">QuestionPro CX software<\/span><\/a><span data-preserver-spaces=\"true\">\u00a0today.<\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\"><a class=\"square-cta secondary-lined-cta\" href=\"https:\/\/info.questionpro.com\/meetings\/kenneth-peterson\" target=\"_blank\" rel=\"noopener noreferrer\"><strong>Book Demo<\/strong><\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CX Can Be Profitable, but\u2026. Over the years, there have been many claims, articles, presentations and discussions about the impact [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":116708,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[169],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Customer Experience and Profit | QuestionPro<\/title>\n<meta name=\"description\" content=\"Every provider out there believes in the idea that improved customer experience will yield greater profitability, and we are no different.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Customer Experience and Profit | QuestionPro\" \/>\n<meta property=\"og:description\" content=\"Every provider out there believes in the idea that improved customer experience will yield greater profitability, and we are no different.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\" \/>\n<meta property=\"og:site_name\" content=\"QuestionPro\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/questionpro\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-19T13:16:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2021\/01\/Blog-CX-Thoughts-3.png\" \/>\n\t<meta property=\"og:image:width\" content=\"992\" \/>\n\t<meta property=\"og:image:height\" content=\"594\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Ken Peterson\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@questionpro\" \/>\n<meta name=\"twitter:site\" content=\"@questionpro\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ken Peterson\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\"},\"author\":{\"name\":\"Ken Peterson\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/621c645198b37217a9b49c46bc1a4ca0\"},\"headline\":\"Customer Experience and Profit\",\"datePublished\":\"2021-01-19T13:16:43+00:00\",\"dateModified\":\"2021-01-19T13:16:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\"},\"wordCount\":724,\"publisher\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#organization\"},\"articleSection\":[\"Customer Experience\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\",\"url\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\",\"name\":\"Customer Experience and Profit | QuestionPro\",\"isPartOf\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#website\"},\"datePublished\":\"2021-01-19T13:16:43+00:00\",\"dateModified\":\"2021-01-19T13:16:43+00:00\",\"description\":\"Every provider out there believes in the idea that improved customer experience will yield greater profitability, and we are no different.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.questionpro.com\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Customer Experience and Profit\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#website\",\"url\":\"https:\/\/www.questionpro.com\/blog\/\",\"name\":\"QuestionPro\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.questionpro.com\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#organization\",\"name\":\"QuestionPro\",\"url\":\"https:\/\/www.questionpro.com\/blog\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg\",\"contentUrl\":\"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg\",\"caption\":\"QuestionPro\"},\"image\":{\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/questionpro\",\"https:\/\/twitter.com\/questionpro\",\"https:\/\/www.linkedin.com\/company\/questionpro\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/621c645198b37217a9b49c46bc1a4ca0\",\"name\":\"Ken Peterson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/c1c71893240aaca8691086e8937ee027?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/c1c71893240aaca8691086e8937ee027?s=96&d=mm&r=g\",\"caption\":\"Ken Peterson\"},\"description\":\"Ken has 20 years of customer experience research in retail, technology, hospitality, financial services, automotive, SaaS deployments, and CX consultation.\",\"url\":\"https:\/\/www.questionpro.com\/blog\/author\/ken\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Customer Experience and Profit | QuestionPro","description":"Every provider out there believes in the idea that improved customer experience will yield greater profitability, and we are no different.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/","og_locale":"en_US","og_type":"article","og_title":"Customer Experience and Profit | QuestionPro","og_description":"Every provider out there believes in the idea that improved customer experience will yield greater profitability, and we are no different.","og_url":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/","og_site_name":"QuestionPro","article_publisher":"https:\/\/www.facebook.com\/questionpro","article_published_time":"2021-01-19T13:16:43+00:00","og_image":[{"width":992,"height":594,"url":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2021\/01\/Blog-CX-Thoughts-3.png","type":"image\/png"}],"author":"Ken Peterson","twitter_card":"summary_large_image","twitter_creator":"@questionpro","twitter_site":"@questionpro","twitter_misc":{"Written by":"Ken Peterson","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/#article","isPartOf":{"@id":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/"},"author":{"name":"Ken Peterson","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/621c645198b37217a9b49c46bc1a4ca0"},"headline":"Customer Experience and Profit","datePublished":"2021-01-19T13:16:43+00:00","dateModified":"2021-01-19T13:16:43+00:00","mainEntityOfPage":{"@id":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/"},"wordCount":724,"publisher":{"@id":"https:\/\/www.questionpro.com\/blog\/#organization"},"articleSection":["Customer Experience"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/","url":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/","name":"Customer Experience and Profit | QuestionPro","isPartOf":{"@id":"https:\/\/www.questionpro.com\/blog\/#website"},"datePublished":"2021-01-19T13:16:43+00:00","dateModified":"2021-01-19T13:16:43+00:00","description":"Every provider out there believes in the idea that improved customer experience will yield greater profitability, and we are no different.","breadcrumb":{"@id":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.questionpro.com\/blog\/customer-experience-and-profit\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.questionpro.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Customer Experience and Profit"}]},{"@type":"WebSite","@id":"https:\/\/www.questionpro.com\/blog\/#website","url":"https:\/\/www.questionpro.com\/blog\/","name":"QuestionPro","description":"","publisher":{"@id":"https:\/\/www.questionpro.com\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.questionpro.com\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.questionpro.com\/blog\/#organization","name":"QuestionPro","url":"https:\/\/www.questionpro.com\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg","contentUrl":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2022\/10\/questionpro-logo.svg","caption":"QuestionPro"},"image":{"@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/questionpro","https:\/\/twitter.com\/questionpro","https:\/\/www.linkedin.com\/company\/questionpro\/"]},{"@type":"Person","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/621c645198b37217a9b49c46bc1a4ca0","name":"Ken Peterson","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.questionpro.com\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/c1c71893240aaca8691086e8937ee027?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c1c71893240aaca8691086e8937ee027?s=96&d=mm&r=g","caption":"Ken Peterson"},"description":"Ken has 20 years of customer experience research in retail, technology, hospitality, financial services, automotive, SaaS deployments, and CX consultation.","url":"https:\/\/www.questionpro.com\/blog\/author\/ken\/"}]}},"featured_image_src":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2021\/01\/Blog-CX-Thoughts-3.png","featured_image_src_square":"https:\/\/www.questionpro.com\/blog\/wp-content\/uploads\/2021\/01\/Blog-CX-Thoughts-3.png","author_info":{"display_name":"Ken Peterson","author_link":"https:\/\/www.questionpro.com\/blog\/author\/ken\/"},"_links":{"self":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts\/116063"}],"collection":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/comments?post=116063"}],"version-history":[{"count":0,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/posts\/116063\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/media\/116708"}],"wp:attachment":[{"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/media?parent=116063"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/categories?post=116063"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.questionpro.com\/blog\/wp-json\/wp\/v2\/tags?post=116063"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}