Customer experience management and accelerated ROI
Website development usually falls into two categories – namely the “must have” and the “nice to have”.
The “nice to have” can probably be described as all the things your marketing team or IT people would like to try. For instance, your marketers might think it a good idea to expand your social media strategy from Facebook and Twitter to embrace Vine and Pinterest. Your competitors are doing it but no one knows for sure whether a beefed up approach to social media will deliver tangible results and make a difference to the bottom line. So if you decide to spend a little extra on the new channels or simply invest more time, everyone sees it as an experiment that may or may not pay off. And until it delivers a ROI, it’s a “nice to have.”
A “must have” on the other hand is a tool, solution or strategy that has been proven to deliver results. Once again, your competitors are using it, but this time round there’s a wealth of industry and case study information indicating that the solution in question delivers a quantifiable return on the investment.
But for many businesses these are constrained economic times. One project vies with another for funding and even those that can deliver an almost certain return aren’t guaranteed funding when the finance team run their collective ruler over the plan.
So how do you unlock the funding? Well if you’re going to allocate resources to a project, it’s always more than comforting to feel that the return on your investment will not only be tangible and significant, it will also deliver a result quickly. Fast is good.
Putting a price on customer experience
So where does customer experience management fit in to the nice to have/must have/ROI equation?
Well the first thing that has to be said is that the experience of customers has a direct impact on financial performance. In very broad terms, you could argue without fear of contradiction that customers who have a good experience when using a site are more likely to convert and also to return.
On the other hand, a less than optimal experience often equates to unidentified technical glitches or poor site design. These factors in turn put obstacles in the way of customers and some will drop off, lowering conversion rates. No surprises there.
The ROI of experience management
So experience management delivers a return by helping site managers to remove those obstacles to conversion.
In the case of UserReplay, this is achieved by recording all customer journeys. When problems are identified – say a high shopping cart abandonment rate – selected journeys are replayed. These replays show exactly where customers have encountered problems and the impact on their progress through the site.
The ROI comes from identifying problems, quantifying their impact and taking remedial action to remove barriers to conversions. The upward impact on sales is quantifiable and significant.
And crucially wins can be achieved quickly. A site can have many issues or problems but many will be trivial and have little impact on conversions. Of course, over time, all problems should be addressed but when resources are right, priorities have to be assigned.
And this is where recording and replaying customer journeys can make an immediate impact. Certain problems have a major impact on sales. For instance, a technical issue at a key point in the customer funnel might stop thousands of customers in their tracks in the space of a single week. Put simply, you might find 25% of customers progress so far and no further because of this issue. Web stats will show a problem on the page but not what it is.
By replaying selected journeys, the issue and its impact can be identified quickly and easily. Repairing the fault will lead to an immediate uptick in sales. It’s a quick and vital win.
All websites have issues, which to a greater or lesser extent damage sales performance. By helping site managers to identify the major problems rapidly, UserReplay delivers returns from day one. A must have solution that earns its keep.