What is good CX?
How much more will customers spend because they are happy with the experience we provide?
Many customer experience (“CX”) practitioners believe that the secret sauce to success is to “make customers happy and they will buy more”. Is it really that easy? How happy and how much more? What can I afford to spend on customers’ happiness?
We should be able to measure improvements in CX and relate them to improvements in sales. To help answer the key questions;
- How happy?
- How much more do they buy?
- What is the return on CX?
Many studies that attempt to quantify CX returns use survey “intention to re-purchase” ratings, not actual sales and given the known “say-do gap” in such surveys we are sceptical about the results. Also, many CX programs are measuring the wrong things or not enough of the right things to prove effectiveness. Many metrics for product and functional management simply do not provide a reliable compass for tracking overall experience.
We are Ellipsis, the Customer Loyalty Experts. We help businesses thrive through solving complex customer problems. Please get in touch, we’d love to talk.