Forbes contributors publish independent expert analyses and insights. Shep Hyken is a customer service/CX expert, author & keynote speaker. This article is more than 5 years old. Since its inception, ...

Customer service and customer experience (often referred to as CX) are two important terms that business owners and brands need to understand in order to thrive in today's competitive marketplace.

Acquiring net new customers is up to 25 times more expensive than keeping customers, and bad customer experience is a leading indicator of customer churn. Therefore, a critical element to any business ...

But customer service is just one aspect of the entire customer experience. It usually comes into play when something has gone wrong; it is the place where companies fix things when part of the ...

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