From the course: Customer Insights and Consumer Analytics for Organizations: Concepts
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Lower cost channels
From the course: Customer Insights and Consumer Analytics for Organizations: Concepts
Lower cost channels
In computer science, we talk a lot about I/O. It's really this notion that every input generates an output. That concept is just as important in business. Every investment of time or money generates some output. You can call it the I/O of your business. Ultimately, it's the P&L or the Profit and Loss of your business overall in your individual business units. When we consider the value of your customer experience program, it's important to take this into account because really it provides the opportunity to quantify your cost channels. This is how you can build a strong foundation for customer experience strategy. By finding the right balance between investment and return. By finding the right balance between what the business needs and what the customers need. So how do we do this? One way is you can go about this by leveraging your value streams. Value streams are operating models or the series of steps that a…
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