D J Academy for Managerial Excellence

By Dr.Deepa Venugopal Managing today’s astute and compelling customers is no child’s play. Present day organisations have understood that investing in Customer Experience (CX) would help in building better products, processes and services which in turn can drastically improve the financial performance and KPI’s. Return on Investment (ROI) is a time-honoured financial metric which assesses the monetary gains from an investment made. But in the contemporary business world where customers call the shots it’s time to welcome another metric named Return on Experience (ROX). So how is ROX better than ROI? Studies reveal that more than 75% of the customers would happily repeat a purchase from a company if they know their name, purchase history and recommend the products based on their preferences. Consequently, this would mean that organisations are in search of metrics which can effectively measure Customer Engagement (CE).While ROI is built on a ‘narrow’ concept of cash outflow V