Blog posts like the attached perfectly demonstrate a major problem in the CX industry - bullshit statistics that don't stand a moment's scrutiny. 4 of the first 5 are complete nonsense:

1. By 2020 customer experience will overtake price and product as the main differentiator between competitors. 

Check the report and you'll see the claim is based on the opinion of a small number of guess who? CX professionals - biased.

2. $1billion company can generate an average $823 million revenue increase in three years with only a moderate enhancement in customer experience. 

A $1bn company at what stage of market maturity? Unprovable.

3. Increase customer retention rates by just 5% and profit increases anywhere from 25% to 95%. 

Already been debunked in the book Loyalty Myths. Profit potential from increased retention varies dramatically based on your current retention rate: If you already retain 95% of your customers getting an extra 5% (to 100%) is likely to seriously reduce your profitability! Retaining customers who are unprofitable in the first place will only lose you money.

5. Companies which deploy a thoughtfully crafted customer service program enjoy a 92% customer retention rate. 

A very specific statistic for a very vague claim! 

#customerexperience #bullshit

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