40 | Customers Define Value, Not Us (Data Snapshot)

In this episode of Good Revenue, host Neeta Bidwai breaks down the importance of validating value from the customer's perspective, drawing on data from Forrester's annual CX benchmark index. 

- The report, encompassing feedback from 98,000 U.S. customers across 223 brands and 13 industries, reveals a notable decline in customer experience quality. 

- Key findings include a general decline in customer experience quality and a notable discrepancy between companies' perception of being customer-obsessed and customers' actual experiences. 

- The episode underscores the necessity for businesses to clearly understand and validate what customers value to improve their offerings and optimize customer satisfaction. 

- The discussion concludes with strategies for redefining business models and enhancing customer support to foster better customer relationships and drive business performance.

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Where to find Neeta:

https://www.linkedin.com/in/neetabidwai/

Where to find Good Revenue:

https://goodrevenue.io/goodrevenue

https://www.youtube.com/channel/UCHrhuWbpYnUwrR75H2Ip4yQ

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Highlights:

00:18 Forrester's Customer Experience Benchmark

00:37 The Decline in Customer Experience Quality

01:46 The Disconnect Between Companies and Customers

02:41 Understanding and Validating Value

03:47 The Importance of Customer-Centric Value

04:10 Benefits vs. Value

05:10 Unlocking Mutual Value

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Referenced:

Forrester CX Benchmark: https://www.forrester.com/report/the-us-customer-experience-index-rankings-2024/RES181020 

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