Importance of Measuring the Effectiveness of Your Customer Journey

Importance of Measuring the Effectiveness of Your Customer Journey

The debate on the importance of customer experience is over. In fact, according to research by Walker, customer experience will overtake price and product as the main brand differentiator by 2020. Brands have started to look into every touchpoint that their customers interacts with, across multiple channels, to deliver unique, inspiring and personalized customer experiences.

ASOS, for example, leverages user generated content (e.g. its #AsSeenOnMe) on their eCommerce sites to create engaging experiences for customers. Japanese brand Uniqlo offers free alterations within 24 hours for in-store purchases of at least $20, to ensure any item purchased fits the customer the right way.

Importance of Measuring the Effectiveness of Your Customer Journey

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No doubt, improving customer experience is well worth the effort. Research from Mckinsey shows that maximizing satisfaction with customer journeys has the potentially to increase customer satisfaction by 20% and lift revenue by up to 15%.

When it comes to measuring customer journey performance and success, many brands focus their effort in customer journey mapping to help them in discovering positive and negative experiences of customers. Forrester Research shows that 63% of large organizations have undertaken customer journey mapping. Journey maps can provide a good starting point to measure performance and ROI, but without the connected underlying data, journey mapping is nothing more than well thought-out theories.

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According to Gartner (in the Gartner Customer Experience & Technologies Summit 2017), more than 40% of all data analytics projects will relate to an aspect of customer experience by 2020. Brands which employ the data collected from millions (or even billions) of individual interactions across channels alongside their customer journey mapping exercises have seen significant benefits including:

1. Get a Complete View

Reveals the wide variety of paths that real customers actually take across channels, and enabling brands to identify the most significant ones

2. Data Analysis and Visualization At Scale

Brands can view the journey that customers take at a macro level, but also have the endless opportunities to drill down and discover the specifics that comprise them

3. Real Time

Enable marketers to identify opportunities for real time engagement based on a data driven understanding of customer behaviour

4. Actionable

Provide actionable insights to empower brands to deliver highly relevant experiences to the right customer, in the right channel, at the right time.

In the latest release of Knexus (September 2018), we’ve introduced new Customer Journey Reports which give brands the ability to measure customer journey effectiveness, with highly relevant content experiences, across a range of criteria including acquisition, commerce, content, engagement and retention.

Marketers can use these real time insights to make decisions on how best to optimize content and customer journeys, creating highly relevant and richer customer experiences to improve conversion, customer engagement and sales.

Case Study

Luxury Products Retailer Improves Conversion with Highly Relevant Shopping Experiences

Read Case Study

About Knexus

Knexus is an AI decision making engine that auto-integrates dynamic content into customer journeys in real time. Knexus matches customer data with social & marketing content, delivering highly relevant experiences to improve conversion, retention and sales.

If you’d like a sneak peak of how Knexus Insights empower marketers to get the right content to the right customers at the right time, providing the most compelling experience for their customers, contact us sales@knexusgroup.com