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How to Calculate Customer Experience ROI

By Ron Welty, Founder & Chief Client Officer There’s no question that providing an exceptional customer experience can yield a great return. Yet, it can be challenging to quantify the value of your investment. Every company is different, so although there are some universal components that make up an exceptional experience, there isn’t one set way to achieve it. Before approving the budget for a customer experience program, company stakeholders will typically want to see the return on their investment. Follow these five steps to calculate the ROI of your customer experience. 1. Set Goals and Metrics ...

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How to Leverage Competitive Auditing to Make Customer Experience Your Key Brand Differentiator

By Ron Welty, Founder & Chief Client Officer In today’s marketplace, why do customers choose you over your competitors? For many, customer experience is the deciding factor. Walker reports that in 2020, customer experience has overtaken price and product as the key brand differentiator. According to the Wall Street Journal, “Customers want a positive experience, not just a transactional relationship, with the brands and companies they engage with.” As...

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Fake Reviews: How to Spot Them and What Actions Your Business Can Take

By Ron Welty, Founder & Chief Client Officer Online reviews have become a powerful tool in convincing a customer to buy (or not to buy). In fact, customers are willing to spend 31 percent more with businesses that boast excellent reviews, while 94 percent of consumers say a negative review can convince them to avoid a business. But buyer and brand beware: The online marketplace can be a dark place. Online reviews can be easy to manipulate, meaning anyone can...

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Abandoned Carts: How Your Return Policy Affects the Customer Experience

By Ron Welty, Founder & Chief Client Officer The end goal of any customer journey goes beyond completing a purchase. The post-purchase experience can be just as important as the purchase itself, so it’s crucial that the purchase meets the customer’s expectations. Unfortunately, that’s not always the case. Your return policy could be the key to convincing a customer to buy―and buy again, even if they choose to return a product. Below, we’ll explore how product return policies can...

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How IoT Can Enhance Your Customer Experience

By Ron Welty, Founder & Chief Client Officer Brands are increasingly creating automated worlds for customers through the Internet of Things (IoT). Simply explained, IoT refers to a physical device that is connected to the Internet, giving it the capability to collect and share data. From smart devices to wearable technology, IHS Markit expects there could be as many as 125 billion connected “things” by 2030. As innovation in technology continues to grow, here are a few ways savvy brands can leverage IoT to enhance the customer experience. ...

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