Let's start from a fundamental premise: “it's less expensive to serve customers properly than to serve them poorly.” In this sense, investing in improving the experience is not considered an expense; on the contrary, the cost lies in implementing improvements inefficiently, leading to the loss of customers, management of complaints and long service times, among other negative impacts.
The quest for efficiency in customer service has become an essential pillar for any company that aspires to success in an increasingly competitive environment. Customer satisfaction not only translates into loyalty, but also into the possibility of attracting new customers through positive recommendations.
Customers want to be served efficiently, with kindness and precise solutions. For many, the possibility of self-service through a device or interface that simplifies the process is perceived as efficiency and lower cost. This evolution towards self-management not only improves the customer experience, but also allows companies to optimize resources and reduce operating costs.
However, companies often perceive investment in Customer or Employee Experience as an expense, mainly because they have not adequately evaluated the return of transformation initiatives in their constant search for continuous improvement and innovation in systems, processes and policies.
Some practical examples of real-life cases
Improved sales conversion rates
After a detailed analysis of the process and customer interaction in the placement of financial products, aspects of improvement were identified that positively impacted the experience. The result was a 32% improvement in conversion, with an estimated one-year ROI of investment of 12.4 times. This not only improved the company's economic results, but also seller satisfaction and customer happiness.
Redesigning the Store Experience
After a survey of the micro journey that identified actors and areas of opportunity, an innovative redesign was implemented that improved the customer experience by approximately 20 points according to the NPS. In addition, they obtained employees with greater capacities to serve customers, and a positive correlation was observed between stores with better NPS and better business results.
Contact Center Management and Experience Model
In an analysis for an entity with a Call Center of 2,000 stations, work cells, menu options and scripts were redefined to optimize conversation and resolution times. The results were a decrease in operating costs of 2 million dollars per year and an increase in NPS by 10 average points in different skills.
Improving the Partner Experience in Stores
With a survey of the Employee Journey and a redesign of critical core staff interactions, it was possible to reduce monthly turnover by 1% and increase ENPS by more than 15 points.
These previous cases illustrate How is it possible to improve the experience by positively impacting business results. The key question is: what is the econometric model used to analyze return on investment?
Practical Ideas for Analyzing Investment Return
Improvement in sales
Evaluate the delta of sales made based on total future income brought to present value. How much is this improvement in results? What is the margin of these new revenues compared to the investment made?
Reducing the customer attrition rate
There is a positive correlation between detracting customers and those who unsubscribe. These programs lower that “churn” cancellation rate. What is the income of these customers in the coming years brought to present value? That is his return.
Improved customer service
Calculate the cost of serving a person in the office, store, call center, via chat or email. If you are more efficient at solving problems by reducing contacts or duration, what is the lowest cost of care?
Reduced staff turnover
A 1% reduction in turnover in a company with 12,000 employees for an Employee Experience project means 120 fewer employees who rotate per month. The cost of selection and recruitment alone is 200 USD. For this concept, there are savings of 24,000 USD per month, not counting the learning curve and other costs.
As can be seen, improved experience and operational efficiency go hand in hand; they are work strategies that, properly combined with innovation and transformation programs, achieve important results. The challenge lies in establishing the necessary numbers to support these decisions. and investment projects to clearly and accurately present ROI and Pay Back to senior management.
If you want to analyze it in another way, it is valid to ask the following questions: what is the cost of doing nothing? The concepts of “non-quality” are still valid. How much is lost or unearned by not improving the customer and employee experience?
In short, this type of article seeks to demonstrate from real cases and practice how you can contribute from the important work discipline that is Experience Management. This discipline leads us to integrate all the efforts we have been making, in many cases in a disjointed way, in terms of product, brand, user, suppliers, customers, employees and thus enhance their results, delivering a unique, efficient and differentiating experience.
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