Today is Tax Day, folks! Are you expecting to receive a return this year? Or, better yet, are you anticipating a return on the investments you’ve made in your customer relationships?
Let’s do some reflecting. To measure your customer experience initiatives from the past year, you want to analyze your return on investment (ROI) and the return on relationship (ROR).
You can calculate the ROI of your customer experience by looking at hard numbers. But measuring your ROR is less concrete. You’ll need to review the perceived and real value of nurturing a customer relationship across the entire lifetime of their shopping experience using analytics that gauge brand loyalty and shared recommendations.
How to Achieve a Higher Return on Your Customer Relationship Investments
If you’re not expecting to receive a hefty return on your customer experience investments, it’s time to reevaluate your strategic plan.
Sophelle works with retailers to develop insights-driven strategies supported by MarTech solutions that provide real-time customer data analytics. These platforms help generate substantial investment and relationship returns by accelerating strategy execution, building new audiences, and delivering differentiated customer experiences.
Enterprise-wide, culture-changing benefits of an insights-driven strategy:
- Access to transparency
- One version of “The Truth”
- Supports strategic planning
- Facilitates informed and actionable decisions
- Drives more predictable outcomes
- Empowers employees with meaningful insights
- Provides greater enterprise control
ROI-generating, financial benefits of an insights-driven strategy:
- Drives influence across the customer journey
- Delivers customized consumer experiences
- Builds audiences for targeted communications
- Improves sales opportunities
- Optimizes pricing and expands gross margins
- Improves inventory utilization
- Optimizes store assortments and shelf space
Set your organization up for an impressive return on your investments next year. Contact Sophelle today for help generating a customer-centric strategy.