{"id":23270,"date":"2021-10-22T08:50:17","date_gmt":"2021-10-22T08:50:17","guid":{"rendered":"https:\/\/www.parcelpending.com\/blog\/how-to-improve-the-roi-of-your-customer-experience\/"},"modified":"2022-12-13T21:24:29","modified_gmt":"2022-12-13T21:24:29","slug":"top-7-tips-to-boost-the-roi-of-your-customer-experience","status":"publish","type":"post","link":"https:\/\/www.parcelpending.com\/en-gb\/blog\/top-7-tips-to-boost-the-roi-of-your-customer-experience\/","title":{"rendered":"Top 7 tips to boost the ROI of your customer experience"},"content":{"rendered":"

Customer experience\u00a0is the new battleground for winning\u00a0customer loyalty, generating additional revenue, retaining talent, and ensuring market share growth. It is unquestionable that there\u2019s a\u00a0positive return on customer experience investment.<\/p>\n

If you improve your business\u2019s\u00a0customer experience, you can expect to potentially\u00a0double your revenue within 36 months<\/a>. And you can expect as much as an 80% increase in revenue for businesses that focus on\u00a0improving customer experience.<\/p>\n

To achieve this, organisations must deploy actionable programs to improve their customer experience ROI (Return on Investment). Our experts provide 7 tips and tricks on how to improve the ROI of your customer experience.<\/p>\n

1. Customer experience is key<\/strong><\/h5>\n

Customer experience\u00a0is the overall perception your customers have about your brand based upon many interactions. It includes both intended messages such as carefully crafted emails, for example, and unintended messages like keeping callers on a long hold, for instance.<\/p>\n

In today\u2019s \u201ccustomer\u00a0first\u201d world, omnichannel marketing is a key influencer in a\u00a0good customer experience. Shoppers want to purchase effortlessly and seamlessly across every platform; they want to choose\u00a0where<\/em>\u00a0they shop,\u00a0how<\/em>\u00a0they shop, and\u00a0how<\/em>\u00a0they want it delivered. And, most importantly, they expect excellence at all\u00a0touchpoints.<\/p>\n

2. Designing a seamless customer experience to drive sales<\/strong><\/h5>\n

The\u00a0experience\u00a0of the\u00a0customer\u00a0has a significant impact on a retailer\u2019s bottom line. For example, in the US, even when people love a company or product,\u00a059% will walk away\u00a0after several bad experiences, and 17% will walk away after just one bad\u00a0experience<\/a>. And 86% of customers say that they are ready to pay more if it means getting a\u00a0better customer experience. In fact, they are willing to pay as much as 13% to 18% more for a product or service, provided they have an outstanding customer experience.<\/p>\n

There\u2019s often a war of words on which is more important: creating a frictionless\u00a0experience\u00a0or a memorable one. Target is a good example of a frictionless\u00a0experience\u00a0with omnichannel shopping and shipping options, whereas IKEA, the Nike store, and Disney World are good examples of an unforgettable\u00a0experience. Startling new research published this year in the Harvard Business Review reveals that companies that focus on frictionless experiences vs. memorable ones had a higher market share; brands that focus on creating memorable experiences\u00a0have a\u00a0lower market share with little appreciable growth above a 15% market share cap<\/a>.<\/p>\n

3. Customer experience must be a company-wide initiative<\/strong><\/h5>\n

For many companies,\u00a0customer experience\u00a0falls under the purview of the Chief Marketing Officer. In a new study on digital\u00a0experience,\u00a052% of respondents report that their CMOs drive the\u00a0customer experience strategy<\/a>. However, a deeper dive into research shows that it needs to be a company-wide effort spearheaded by the CMO and\/or the CIO (Chief Information Officer.) Companies invested in strong digital growth have created new positions, such as the CIO of Marketing, dedicated to improving the\u00a0customer experience\u00a0by exceeding customer expectations.<\/p>\n

4. Happy employees = happy customers<\/strong><\/h5>\n

Often overlooked when it comes to the customer experience\u00a0is the role it plays in\u00a0employee experience. There\u2019s a direct correlation between\u00a0customer retention and employee retention.\u00a0Happy employees feel more engaged, stay longer, and over-deliver on\u00a0customer service. As the late Tony Hsieh, former CEO of Zappos, once said, \u201cCustomer service\u00a0shouldn\u2019t just be a department, it should be the entire company.\u201d Not surprisingly,\u00a0companies with a highly engaged workforce report 20% higher sales<\/a>.<\/p>\n

5. Personalisation is paramount in driving sales<\/strong><\/h5>\n

Competing in the retail sector demands investing in digital tools to understand the\u00a0customer journey; using that data for personalisation is key. Recent research revealed that\u00a056% of top professionals involved in\u00a0customer experience\u00a0strive to improve the personalization of\u00a0customer\u00a0communication<\/a>. And 43% of marketers report that they will invest in more personalization in 2021. The emphasis of the spending will be on hyper-targeted content and messaging.<\/p>\n

6. Click and Collect in locker (or BOPIL) is key to boosting customer satisfaction<\/strong><\/h5>\n

While ‘buy online pick up in store’, aka ‘click & collect<\/a>‘ is now mainstream \u2013 with 90% of stores expected to offer the service in 2021 \u2013 it\u2019s the savvy retailers who are embracing Buy Online, Pick-Up in Locker (BOPIL)<\/a>. BOPIL is one of several hot\u00a0omnichannel\u00a0trends\u00a0because it offers an additional (and cheaper) delivery option for the\u00a0customer.<\/p>\n

Our clients indicate that the order pick-up experience with lockers significantly increases their\u00a0customer satisfaction.\u00a0Since it typically takes less than 30 seconds to retrieve a package via BOPIL, customers rate their shopping\u00a0experience\u00a0higher\u00a0than other order pick-up methods (such as curbside or\u00a0traditional BOPIS). Further, research shows that customers are four times more likely to purchase again if the perceived wait time is less than two minutes. Plus, 85% of customers say they buy additional items in-store when picking up their orders.<\/p>\n

7. Improving your Net Promoter Score (NPS)<\/strong><\/h5>\n

The\u00a0Net Promoter Score\u00a0is often considered one of the most important in evaluating the\u00a0customer experience. It measures brand\/company loyalty,\u00a0customer satisfaction, and overall\u00a0customer experience\u00a0by asking one simple question: how likely are you to recommend our business to a friend, family member, or coworker?<\/p>\n

Parcel Pending by Quadient clients who install\u00a0intelligent parcel lockers<\/a>\u00a0have seen their Likely to Recommend (LTR) scores jump an average of 30 percentage points. Additionally, one client indicated that lockers are their highest-rated order pick-up method by a margin of nearly 10% (compared to curbside and standard BOPIS).<\/p>\n

Customers have fallen in love with intelligent retail pickup lockers<\/a> because they can pick up their orders safely and securely on their<\/em>\u00a0schedule without having to wait for assistance from a store associate. One retailer using Parcel Pending lockers indicated that their customers are two times more likely to pick up an order from a store with lockers as opposed to a non-locker store.<\/p>\n

Parcel Pending by Quadient and you<\/strong><\/h5>\n

Investing in the improvement of your\u00a0customer experience\u00a0is the secret weapon to winning over customers and employees as well as increasing loyalty and sale. With intelligent lockers having demonstrated effectiveness in providing a positive return on your\u00a0CX investment, they are the solution your retail business needs on the battlefield for customer loyalty.<\/p>\n

Contact us<\/a>\u00a0today to find out how we will improve\u00a0your customer experience\u00a0while lowering costs.<\/p>\n","protected":false},"excerpt":{"rendered":"

Customer experience\u00a0is the new battleground for winning\u00a0customer loyalty, generating additional revenue, retaining talent, and ensuring market share growth. It is unquestionable that there\u2019s a\u00a0positive return on customer experience investment. If you improve your business\u2019s\u00a0customer experience, you can expect to potentially\u00a0double your revenue within 36 months. And you can expect as much as an 80% increase […]<\/p>\n","protected":false},"author":3,"featured_media":13890,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[242,256],"tags":[],"class_list":["post-23270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-en-gb","category-blog-retail-en-gb"],"acf":[],"yoast_head":"\nTop 7 tips to boost the ROI of your customer experience - Parcel Pending<\/title>\n<meta name=\"description\" content=\"Top 7 tips to boost the ROI of your customer experience. 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