One of the ways to check up the effectiveness of your marketing strategy is to see the return on investment (ROI). Does your input balance out well with your output? Or does it sway wildly towards the former? The ROI should be your yard stick with which you should gauge your practice. We’ll tell you what to look out for!
To Begin With, What Is Customer Service?
In layman’s terms, it would be how your customer base perceives your business, your firm or your brand. In other words, what your brand image is like. This perception they have is complements to many blocks including the interaction they have with your company representatives, the services and products you offer, how fluidly and customer friendly you website is! Everything under the sun, gauges their interest levels towards your brand. Understanding what is lacking and then making suitable rectifications to enhance the quality of customer satisfaction is how all businesses should strive for!
Is There A Way To Measure This “Customer ROI”?
All quantifying this is complex, because there are many variables such as the level of positivity or the likeliness to select your brand over another etc. However there exists a simple lazily made formula which is: Return/ investment. You can use this as a baseline to measure the effectiveness of your marketing strategies.
How Can I Improve My Customer Experience ROI?
- Improve The Quality Of Service You Provide To Your Customer!
Many at times, it is the terrible customer service, or the lack there of that causes many customers to drop. Even if they like the service and product that you are offering, the bad customer service seems to create a smudge that you can’t quite get off! Begin by rewarding your employees with bonuses for retaining and to better the overall interaction with clients.
- Train Your Employees To Do Better!
Some skills are to be taught. Customer interaction is one of them! Make sure to educate and hold sessions for your employees over the dos and don’ts when it comes to interacting with customers. Make sure they know the A to Z’s of the service or product. Guide them on how to make do best with the situation at hand.
- Sales And Marketing Make Up The Whole
The secret to bettering the customer service game is by combining the marketing and sales. Make sure both the departments are coordinated, and the feedback you receive in sales is better employed to fine tune your marketing master plan.
- Reward Them For Their Reviews
Make a point based system to reward customers who tell their experiences. You can only know what to change in your game plan, if you know what you are doing wrong! Say for example, give them discounts or cash backs when they have put in ‘n’ number of reviews.
- How Many Customers Are You Retaining? How Many Are Bouncing Back?
Understand this; it is easier to retain your existing customer than to begin attracting customers afresh. See why is it that your customers are losing interest in your product or service. Another way to do this is by social media monitoring. You can know, what your customers are saying about your brand. Is it positive or negative? What issue do they say seem pertinent to your product that you need to know about? Encouraging customers to say what they feel about the brand will give you valuable information. Tracking the same will showcase trends of either improvement or decline, whatever may be!
- Poll Your Clients
Conduct a poll and ask your customer’s first-hand what they feel about your brand. You can conduct a poll via social media platforms or even a survey via an email. This can tell you a great deal about what you need to change!
- Find Out Your ROI Metrics
Surely the tips mentioned prior tell you how to improve ROI. But how will you know for sure that it has yielded positive results? There are many metrics that help gauge the ROI as a whole. This could be anything from product purchases and returns to marketing campaign effectiveness! Don’t try saving spare change, and use the best company management softwares available in the market to plug in your metrics!
The Curtain Closer
You can make use of cloud based business management software such as Customer Relationship Management (CRM) software to implement the various parameters. These tools can collect, document and keep your data and statistics readily available in a moment’s notice. This helps in determining how your customers are doing and what you can do to improve the situation.
Positive customer experiences can do wonders for your business. Taking the time to understand their likes and dislikes, what they would want to see changed, and what makes them tick will help boost the brand image and eventually, your revenues.
Your customers are after all the life blood on which your brand runs on; Don’t leave them in the dark, because they will do the same to you!