5 steps to calculate the ROI from the consumer experience

5 steps to calculate the ROI from the consumer experience

Every day there is a greater concern for customer satisfaction, as a means to achieve their fidelity. For this, companies must bet on improving the consumer experience, that the company meets their expectations, and even surpasses them. But what do companies gain from this? What do your efforts translate into? Bruce Temkin seems to have the answer, set out in his ROI Report on Consumer Experience. 

5 steps to calculate the ROI from the consumer experienceTemkin sets 5 steps to measure the ROI of consumer experience

  • Establish basic indicators of customer experience. One of them could be the Net Promoter Score SatMetrix, which measures the likelihood of customers recommending the brand to their peers.
  • Determine loyalty goals. These are aspects that denote a greater involvement of the consumer with the brand. These can be represented by the number of recommendations, the additional sales record, the repeat purchase …
  • Group the clients based on the initial parameters. Divide customers according to their degree of affinity with the brand. This way you can create an optimized message for each segment, and study their reaction in each case. From there you will obtain conclusive data about its relationship with the brand, as well as the expectations that it has placed in it and how to promote its fidelity.
  • To analyze the relationship between the experience gained by the client and his degree of loyalty. Calculate the degree of fidelity of each group. This will help you figure out how much you could improve your loyalty, and what aspects you should reinforce for it.
  • Calculate the value of that change, in terms of fidelity, obtained according to the experience of the consumer.

Undoubtedly it is important to know the results of our actions in social networks, especially translated in economic terms. Temkin’s proposal is based on one of his previous studies, which emphasized the close relationship between a positive experience and brand loyalty. 

It is crucially important to strive to improve the customer experience with the brand, to take care of all aspects so that the brand is fully satisfied and wants to repeat. In turn, this satisfied customer will speak in favor of the brand in their environment, which extends the benefit of these actions focused on the customer experience. As a consequence, the degree of affinity with the brand increases, users feel more linked and their loyalty is fostered. 

Customers expect both the product and the company to live up to their expectations, to offer a quality service, to comply in a timely manner and to meet their requests. If you also get some added value, which can range from sending the purchase earlier than expected, a discount for your next order, or the simple fact that you thank you for choosing you as a company, you will make the difference to favor the Brand memory and strengthen your link with your company. 

What do you do to improve the consumer experience? A discount for your next order, or the simple fact that you thank you for choosing you as a company, you will make the difference to promote brand recall and strengthen your link with your company. What do you do to improve the consumer experience? A discount for your next order, or the simple fact that you thank you for choosing you as a company, you will make the difference to promote brand recall and strengthen your link with your company. What do you do to improve the consumer experience?

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