You Can’t Improve What You Don’t Measure
80% of companies surveyed said that they offer superior customer service, but only 8% of their customers agreed with them. (Source: Bain & Company)
With numbers like that there is plenty of room to improve. But improve what?
Traditionally retailers have measured themselves against year over year increase in sales for like-stores, increased margins and lower operating costs. But, retailing has changed, customers can interact and transact with you across multiple touch points along their path to purchase and beyond. Poor performance at any one of these interaction points could lose you a customer and damage your brand.
A better measure is to calculate the customer experience across the omni-channel landscape. This will provide better insight into how you are attracting and retaining customers, and how well you are serving them. However, many retailers lack the technology and processes to deliver on a plan to improve the omni-channel customer experience.
Once you have decided to do something, what are you going to measure? Is it time spent on website versus sales? Speed to resolve problems in contact center versus number of repeat transactions from customer? Number of touch points before purchase? But what about the softer measures like how well your staff interact with customers in-store or social channels? How many “Pins” you have, or how do you assign value to them?
Organizations need to account for (CHURN, ATTRITION, LOYALTY and LIFETIME VALUE) to be able to evaluate their performance from a holistic view of their customer, not just in the confines of their own operational silo.
In an up and coming webinar Arkady Kleyner, from Intricity will break apart key components of the Omni-Channel Customer Experience calculation. Additionally, Arkady will identify the upstream components that keep this measure accurate and current.
Attend this webinar to learn:
- The foundational calculations of Omni-Channel Customer Experience
- Common customizations to fit different scenarios
- Upstream components to keep the calculation current and accurate
- Register here to receive a calendar invitation with the webinar details.
- Join us for a 1 hour webinar and Q/A session. The event will occur March 19th at 2:00PM EST.