Is your Customer Experience generating profits or costing you money?
It doesn’t surprise me anymore when business leaders roll their eyes when I start talking about the emotional side of a customer experience, after all ,surveys show that how we feel about an organisation as a customer makes up to 50 percent of the overall customer experience. What I do realise though is that most business leaders are firmly focused on the numbers. So, let’s talk numbers
What does surprise me is how many organisations don’t know the numbers that make up the answers to these fundamental questions.
- How many customers do you have?
- How many of those are repeat customers?
- How much does it cost you to attract a new customer?
- How do customers find out about you?
- How many customers find you via word of mouth.?
- How many of your customers give you their complete loyalty?
- How many customers do you have that don’t give you their complete loyalty?
- What is the number one reason customers leave you?
- How many staff did you turn over last year?
- What did you spend on recruitment & skill development last year?
- What are your top 3 current customer expectations?
- How many customers did you lose last year?
Every one of these questions is key to the performance (or lack) of your Customer Experience strategy.
The only way you will accurately answer the question –“Is your Customer Experience costing you or benefiting you financially” is to start finding the answers to these questions.