What is customer experience elasticity of demand of your offerings ?

This principle of economics is used for elasticity of demand for price. Time has come to use the same for better customer experience. 

PED definition is : 

Price elasticity of demand is a measure used in economics to show the responsiveness or elasticity of the quality demanded of a good or service to a change in its price.   

New age definition of importance is:  

Customer Experience elasticity of demand is a measure used in economics to show the responsiveness or elasticity of the quality demanded of a good or service to a change in its customer experience.   

Therefore before you ask for ROI of better customer experience initiatives answer following questions:

What is your advertising & marketing budget ? 

What is the cost of acquiring new customer ? 

What is the potential loss due to losing exiting customers ? 

What is the gain from repeat purchase from existing customers ? 

What is the gain from referral business from existing customers ? 

What is the gain from existing customers (+) WOM across channel ?

What is the loss from existing customers (-) WOM across channel ?

What is the potential market share loss due to competitor taking lead in offering better customer experience ? 

What is the elasticity of demand for better customer experience ? 

What is your better customer experience creation budget for existing customers ? 

What is the gain in to be known as customer experience champion company ? 

Answer these questions before you ask about ROI of customer experience initiatives in your organisation.