Creating efficient customer journeys is a basic requirement for sales success. Getting it right for more customers, more of the time can transform conversion and customer retention; doubling online sales for one company and increasing sales across all channels by 15% for another major UK Financial Services Client.
But of course it also offers wider benefits as stated in Harvard Business Review:
Organisations able to skilfully manage the entire experience reap enormous rewards: enhanced customer satisfaction, reduced churn, increased revenue, and greater employee satisfaction. They also discover more-effective ways to collaborate across functions and levels, a process that delivers gains throughout the company.
You can download our free 31-page Guide to Customer Journey Mapping here, this details how you can map, quantify and improve the journeys and paths your customers make. One aspect which is often overlooked is the value of quantifying the number of people who move from enquiry to purchase via different channels and, most importantly, where they drop out of the sales funnel.
Here is one process we use to add quantitative elements to customer journeys.
Adding this data to your journey maps will give you many critical financial measures including:
- the cost per contact
- key drop out points and the opportunity cost of those drop outs
- conversion rates at each stage along that journey
Of course further, crucial information can be added to these maps; customers’ rational and emotional state at key stages of their journey (what they want and how they feel about their experiences, the brand and so on) plus key metrics like Customer Effort Score.