Customer experience has recently become more critical lately because managing it via the emergence of a host of enabling technologies to provide data-enabled, insight-driven customer interactions can result in improved customer retention, greater ability to cross- and up-sell, the ability to prevent commoditization and margin erosion, and increase the propensity for customer advocacy that may generate additional referral revenue.
Customer experience is defined as the sum of a customer’s interactions with a company across all of its
touch-points – including employees, channels, systems, products, and services – and the resulting perceptions
about the brand. Research has shown that a customer’s perception of a company is developed as a result of their
interaction across multiple-channels, not through one individual transaction or moment in time, and that a
positive and effortless customer experience can result in increased customer satisfaction, loyalty, advocacy and
greater customer lifetime value.