Five ways to quantify the ROI of customer experience management
Nelson Pascua frames ROI analysis around specific measures and outcomes in order to quantify the fully loaded economics of customer-centricity.
ROI of CEM #1: Reduce at-risk revenue. Recover potentially lost customers
ROI of CEM #2: Engage existing customers as a sustainable engine for growth
ROI of CEM #3: Reduce the costs of new customer acquisition
ROI of CEM #4: Engage employees. Reduce staff turnover and cost of hiring
ROI of CEM #5: Reduce the cost of customer and employee feedback infrastructure
- Recover at-rick customers.
- Engage existing customers.
- Reduce cost of new customer acquisition.
- Engage employees and reduce staff turnover.
- Reduce cost of feedback infrastructure.
Nelson Pascua is vice president of Client Services for Medallia, Inc., a CEM vendor headquartered in Palo Alto, CA. Specialising in retail and ecommerce clients, he is an expert in research methodology and advanced analytical techniques.
This column is part of a monthly series featuring thought-provoking articles, best practices and valuable insight by the Medallia team. CEM solutions by Medallia enable companies to gather, monitor and act on feedback from customers, partners and employees. Learn more by visiting the Medallia website at www.medallia.com.