Most marketing professionals agree that the primary purpose of a customer experience (CX) strategy is to improve customer retention and satisfaction. This strategy is fairly intuitive to directors. Of course, the cost to obtain a new customer is higher than the cost to sell to an existing customer. How well a business understands changes in customer sentiment throughout the buyer’s journey can prove to be decisive in determining its success over time relative to its competitors.

This issue of Board Perspectives explains why CX is important for performance management, customer retention and satisfaction, and competitive advantage.