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EFFECTIVE CX, LEADS TO INCREASED REVENUE AND MORE LOYAL CUSTOMERS
According to Bain & Company, customer experience (CX) increases loyalty and promotors of brands, and companies that excel at CX drive revenues 4-8% higher.
Forrester found that the brands and companies that manage customer experience (CX) the best, enjoy 5.7 times more revenue than those that lag.
According to PWC, 73% of consumers say a good experience is key in influencing their brand / company loyalties, which leads to superior financial performance.
Companies whose conversion rates improved last year are conducting 50% more A/B tests.
BEATING CUSTOMERS’ EXPECTATIONS LEADS TO HIGHER ROI
The greatest Return on Investment (ROI) does not come from monitoring transactional/operational data (ad clicks, heat maps, sales figures, etc.) Rather, it’s understanding the customer and their journey better e.g., are expectations being met/exceeded (sales go up), or are they dropping out at a particular site element (missed revenue opportunity).
Transactional/Operational (One-Dimensional)
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Success: Did the customer achieve their goals?
Customer Experience (CX is Three-Dimensional)
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Expectation: How did their journey go versus expectations?
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Effort: How easy or hard was it for them to achieve their
goals? -
Emotion: How did interacting with your company make
them feel?
WE CAN HELP YOU IMPROVE ROI IN TWO WAYS
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Improve Customer Experience (CX) both online and on location
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Improve Content Efficacy (A/B Testing)
EFFECTIVE CX, LEADS TO INCREASED REVENUE AND MORE LOYAL CUSTOMERS
Actions customers are very likely to do based on their experience
METRICS USED FOR CX IMPROVEMENT OVER TIME.
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NPS scores (Promotors, Detractors, Passive).
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Percentage (of customers) at Risk,
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Percentage (of customers) to upsell or new opportunities.
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How often a customer engages with Walmart’s site vs. other retailers’ sites?
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Customer Loyalty Index
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Trust Metrics
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Likert Scales (strongly agree, agree, neither agree or disagree, etc.)
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Categorization of open-ended questions
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Behavioral Questions (e.g., expected usage over the next six months)