By Prebuilt Sites Team
May 16, 2022
Brands used to measure the success of their marketing campaigns by using traditional ROI, or calculating their success based on how much money a campaign made them. The problem with this, is that now we are in a completely different digital age where customers expect more from brands and are easily able to share their opinions with a brand. There has never been more feedback online, and the expectations have never been higher. Prioritizing engagement and the customer experience will go a long way and build customer loyalty. You need to pay attention to your customers’ values and priorities if you wish to succeed. You can do this by collecting feedback from your customers on their customer experience to ensure that all of the experiences they have with your brand ‘s product and customer service is top notch. Utilize technology to listen to feedback in the form of customer reviews, DMs, satisfaction surveys, social media engagement, etc. and use that to make better decisions in your business. This will allow your brand to succeed in the long term. If you have any questions about how to use customer feedback to improve your customer experience or want us to handle it for you, reach out to us at Prebuilt Sites or The BBS Agency. We’d love to help you out!
In the past, brands have measured the success of marketing campaigns based on return on investment, which provided insight into whether a substantial return was made on the amount of money spent on advertising and marketing.
Today, brands in all industries are facing new challenges. There has never been more feedback online, and the expectations have never been higher. For a business, online customer support is no longer optional.
Customers are demanding more, and they want answers at their fingertips. We are in digital age where the focus is on the people rather than the technology now. Customer experiences are laid out on the table for other customers to see, companies want to understand how engagement and experience are affecting customer relationships, and they are using feedback to measure it.
Customer Loyalty and Customer Experience
Before you can begin to measure customer loyalty to improve experience, it’s important to first understand your customers. Customers are looking for an emotional experience, so it’s important to know what motivates them and what will get them engaged with your brand.
Emotional Drivers for Different Generations
If you consider a target audience, such as baby boomers, millennials, or Gen Z, each generation has their own expectations about how a business should operate. Brands which pay attention to their audiences’ values and priorities are more likely to succeed.
This conclusion is evident in recent findings from The Global Sustainability Study 2021. For example, 5 percent of people indicate that they have shifted their purchase behavior towards being more sustainable in the past five years. A third of surveyed Millennials answered they will choose a sustainable alternative when available, while older generations are less likely to actively choose sustainable alternatives.
On the other hand as of 2021, baby boomers tend to choose companies based on customer service, while millennials are more likely to use technology to help with their in-store experience.
How do you understand your customers? You listen to them. You listen to them on social media, in online reviews, through customer satisfaction surveys and in the store.
ROI versus ROE2
Return on investment (ROI) is a term that was first used by marketers in the 20th century to measure the impact of advertising on awareness and sales, writes Andy Frawley, CEO of Epsilon and author of Igniting Customer Connections. Today, however, he argues that marketers want to know how the effect of their marketing on building customer relationships. Frawley dubs this metric “return on experience x engagement,” or ROE2 .
Frawley writes about the success of Starbucks and how the company truly understands ROE2 and uses technology for effective customer engagement. “Enabling customers to accumulate rewards via a mobile app or loyalty card and cash them in for a free drink of their choice is a brilliant use of ROE2, as is the coffee retailer’s tie-in with iTunes in which any customer can download a song for free,” he writes.
Key Elements of the Customer Experience
To get a complete picture of what the customer experience looks like, it’s essential that brands first pay attention to critical elements within the customer experience.
These elements include:
- High-Quality Product or Service: If the product or service offering is not of high quality, the customer experience will never be positive. Brands should always provide a solution or something of value to customers to help make their lives better.
- Convenience: Modern shoppers demand high-quality amenities. For example, the widespread integration of complimentary Wi-Fi in major stores like Starbucks, Target, and Walmart provides rewards for the customer and the company. Customers who are given these incentives tend to stay longer and buy more. On the other end of the spectrum, brands benefit from more sales. In fact, various studies find there are several benefits for retailers that provide in-store Wi-Fi, including the ability to convert browsers into buyers.
- The In-Store Experience: Successful brands ask questions about their services and products. These questions include:
- Can customers find products with ease?
- Are floor agents available to answer questions? Are the employees friendly?
- Are new technologies in place to help customers and employees save time?
- What will motivate customers to become loyal?
These questions can be answered by listening to the unstructured feedback online. As I said earlier, feedback is everywhere. It’s in social media, online reviews, and in the store. It’s important to have a system in place to analyze and manage customer feedback.
One way to manage feedback is to utilize software that helps organize and analyze the customer feedback found online. Customer review and rating tools exist to save you time when it comes to aggregating, replying to, and analyzing online reviews. Research has proven software that manages reviews can save your brand hours each week. They also provide unique insights into the customer journey.
Using the Net Promoter Score to Measure Customer Experience
You need to know how loyal your customers are. It’s important to use a method to evaluate what elements of the customer experience are working or not.