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WaterRemarks -- August 2024

News and views from customer experience advisory firm Watermark Consulting

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A Message From Watermark Founder Jon Picoult

What's the ROI of a great customer experience?


It's a question that has vexed many a business leader -- folks who publicly tout their commitment to customer-centricity, but privately express skepticism that there's a tangible return on customer experience investments.


It's also a question that Watermark tackled early on in its history, with the 2010 release of our landmark Customer Experience (CX) ROI Study.


Our CX ROI Study was among the first cross-industry analyses to show a connection between customer experience quality and shareholder returns. It has since become one of the most widely cited pieces of research in the industry, referenced by firms such as McKinsey, Deloitte, Accenture, Forrester, SAP, and Oracle.


For the first time in three years, we're releasing an update to the analysis. As a subscriber to WaterRemarks, you are among the first to see the latest results, as this special edition of our newsletter focuses exclusively on the CX ROI Study.


Best regards,



Jon Picoult

Founder, Watermark Consulting

Author, From Impressed To Obsessed

The 2024 Customer Experience ROI Study

Here's something Main Street and Wall Street apparently agree on: Being good to customers really is good for business. That's the headline from Watermark's newly updated Cross-Industry CX ROI Study, now featuring 16 years of data. Whether you're a supporter or a skeptic of customer experience differentiation, this is a must-read. [7 minute read]

Read More

Newly Updated: Industry-Specific Customer Experience ROI Studies

In addition to a new Cross-Industry CX ROI Study, we're also releasing updates to three industry-specific analyses:


  • Airlines: It turns out air carriers get quite a lift from a great passenger experience.


  • Insurance: The riskiest strategy for Auto & Home insurers? Neglecting their policyholder experience.


  • Wealth Management: The greatest riches go to those who deliver an excellent client experience.
View All CX ROI Studies
Why Focus On Customer Experience?  Here's Why.

Keynote Clip: Why Focus On Customer Experience? Here's Why.

During his customer experience keynotes, Watermark founder Jon Picoult often references the CX ROI Study to help underscore the business opportunity afforded by customer experience differentiation. Here's a keynote clip where he described the results of one of our earlier studies. [1 minute video]

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How To Convince Skeptical Executives About Customer Experience ROI

The Origin Story Of Watermark's Customer Experience ROI Study

In the above clip from his interview on the "Net Promoter System" podcast (recently rebranded as "Customer Confidential"), Jon Picoult explains how Watermark's landmark CX ROI Study was born out of his personal frustration with customer experience skeptics. [48 minute show]

Listen To Interview Clip
Calendar flipping

Missed The Last Edition Of WaterRemarks?

Did you miss out on our last edition of WaterRemarks? No worries, here's a link to access the newsletter and its lead story: "Why Customer Experience Quality Is Simultaneously Soaring And Plummeting."

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THE LAST WORD

“The stores require a maniacal focus on the customer experience, through the eyes of a merchant. The answer does not lie in data, but in the stores.”


-- Starbucks' former CEO Howard Schultz, in a May 5 LinkedIn post following the company's disappointing earnings release. Just a few months later, Schultz's hand-picked successor, Laxman Narasimhan, was ousted by Starbucks' Board and replaced by Chipotle CEO Brian Niccol.


Source: LinkedIn (May 5, 2024)

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