Metrics that CX (Customer Experience) practitioners can measure for reaching their marketing goals and objectives, to justify ROI and thereby illustrate business growth to their company.
KW: marketing goal and objectives
Ways to Measure B2B CX Program Results For Boosting Marketing Goals And Objectives
If you are a CX practitioner who has found the support for your B2B experience program and has since been implementing it across your organization for boosting marketing goals and objectives, congratulations!
We say this because garnering sponsorship for CX programs is not an easy task since doing so implies that you have been capable of receiving both trust and investment from both the frontline staff and from your company’s executives respectively.
Now trying to find measurable results to enhance outcomes often becomes the most challenging aspect of running a Customer Experience program, which mostly makes the stakeholders express at least a little skepticism alongside all their buy-ins.
Hence as one of the most recognized vendors of Salesforce Alternative CRM tools here we have put down several tried-and-true metrics that CX practitioners can measure for uploading their marketing goals and objectives, to justify ROI and thereby illustrate business growth:
- Customer Acquisition Growth
- Customer Retention and Recovery
- Upselling Established Customers
- Profitability From Lowered Costs
Customer Acquisition Growth
This is one of the greatest marketing goal and objectives that most brands have and set it for the Customer Experience programs, which makes it one of the most important metrics to track as the initiative takes off.
Now acquiring new customers for any business is neither simple nor cheap, and there is one of the stakeholders who bear it in their mind- it’s the C-suit(s).
Hence tracking customer acquisition is, therefore, a must for any B2B CX programs, and so experience programs that can track change and monitor new growth using an easy to use CRM platform are considered as the most result-oriented programs where companies do not shy away from investing.
Customer Retention and Recovery
The two greatest reasons why customer retention is a pertinent and powerful B2B experience metric is that primarily retaining customers is far cheaper than acquiring new ones and secondly, most brands initiate CX programs to improve the experience of their customer base.
CX practitioners can most effectively hit both these goals by measuring and tracking customer retention and recovery.
There are several ways that can help in demonstrating CX initiatives’ value when it comes to customer recovery.
For example, CX practitioners often survey the customers who reach out to contact centers, and after garnering their feedback, turn it into actionable intelligence for business growth.
This intelligence found from the feedback data can be turned meaningfully to improve call center processes and boost customer retention along with it and hence these metrics can be directly tied to the experience programs looking for boosting marketing goals and objectives.
Upselling Established Customers
It is always nice to retain existing business, but there are several B2B brands that set their sights on a more ambitious goal- which implies increasing the share of wallet with their established and loyal customers.
Now the tools, processes, and improvements afforded by CX programs can make this goal possible, and so CX practitioners must tether the improvement bought about by their efforts to any increase in the share of wallet.
This is the reason CX practitioners commonly use their programs to upsell existing customers by focusing on those individuals’ wants and needs.
Once CX practitioners use an easy to use CRM they can even call upon a backdrop of operational and financial data, which can grant the B2B organizations access to find a 360-degree holistic view of their customers, which the CX teams can then pinpoint and act upon for creating upsell opportunities.
Profitability from Lowered Costs
Finally, in addition to providing significant experience enhancement opportunities, a properly well-executed CX program can aid brands to identify new ways to eradicate waste and cut costs for their organization.
Experienced CX practitioners can establish their program’s value by showing stakeholders of such opportunities as their CX initiatives reveal them, providing B2B organizations to save money while also empowering to experience for the customers.
This is because nothing screams “value” to a band quite like increased profitability.
Hence even though acquiring sponsorship for a CX program is not an easy task, and harder still is proving the program’s worth, nevertheless, CX practitioners who focus on proving their CX program’s worth through these four key lenses will have a marked easier time actually doing it which can be reflected in the increase in the performance of the company’s marketing goal and objectives.