How Customer Experience Affects a Company’s Revenue

Customer experience is perhaps the single most valuable and emphasized component of business operations. Both B2B and B2C companies greatly value the concept of creating exceptional customer experience as the bottom line of achieving revenue growth.

The customer pyramid of innovation

Customer input to the innovation process can range from non-existent or reactive up to proactive. The level depends on the company culture and its history/success with past innovations. Proactive customer involvement provides the best atmosphere for successful innovation.

Utilizing consumer feedback for improvement and breakthrough innovation

Organizations have had varying degrees of success in utilizing consumer research in their innovation processes. According to Ellen Di Resta, this is typically due to a misalignment of expectations for how directly the consumer can influence the product development process.

2020-08-08T11:45:11-07:00October 14th, 2008|Categories: In-Depth Article|Tags: , , |
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