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ROI of Journey Maturity: What Should You Expect?

April 21, 2021

Most businesses know the ROI of a good customer experience (CX). Research shows that understanding, managing, and impacting customer journeys is critical for success in today’s customer-centric business world.

Traditionally, understanding customer journeys has been very complex, difficult, and expensive to achieve, thus few organizations are truly journey-centric.

So what ROI can you expect from a holistic Journey Intelligence approach?

At the beginning stages, you are creating a strong CX foundation, along with a vision to strategically implement throughout the organization. Although there is not much ROI at first, do not undermine the value of your efforts. Organizing your data and establishing a taxonomy will provide set the stage for the future.                    

As you start to eliminate pain points in your core journeys, ROI becomes more evident as your personnel and marketing costs begin to reduce. Your customer satisfaction and retention will continue to improve as task abandonment and support calls diminish.

ROI experiences a dramatic growth during the later stages of your Customer Journeys, becoming easy to access and socialize. By this point your organization will experience:

  • Increase in success rates of self service
  • Reduction in unnecessary calls
  • Customer sentiment on social media beginning to improve
  • Increase in customer retention
  • Improvement to customer acquisition

Once Journey Intelligence is fully operationalized, your ROI will experience even higher revenue increases and reduced service costs. According to the Boston Consulting Group, Firms that adopt a customer-journey-at-scale approach typically see a 20% – 40% increase in customer advocacy, 10% – 20% revenue increase, and 15% – 20% cost reduction.

Here are some ways you can increase the ROI of your customer experience efforts:

  • Start small. Choose one or two key journeys and show the impact that is possible. Use your success to make the case to expand.

  • Use as much data as possible. Although you’ll start small, eventually you’ll want to use as much data from as many channels and touchpoints as you can get your hands on. This will need to be a gradual evolution, so stay patient, and keep showing value every step of the way.

  • Identify an executive sponsor. It helps immensely to have an advocate who can help you get data and drive change.

  • Make changes. If your Journey Intelligence identifies a key point of friction in a particular journey, fix it! Don’t get caught in analysis paralysis.

  • Share your success! Regularly communicate the opportunities your Journey Intelligence efforts help identify and track the progress.

Showing the ROI on Journey Intelligence may be the easiest thing you have to do this year. It’s that easy to demonstrate value.

How can we help?

BryterCX provides end-to-end customer journey solutions including journey analytics, mapping, orchestration, and dashboarding. By bringing these solutions together under one umbrella, you get a unified, omnichannel view of the customer experience. You can make better, faster decisions that impact business outcomes.

Connect with a member of our sales team (salesorg@brytercx.com)  and learn how to apply Journey Intelligence at your company.  We are here to help you succeed.

Understanding that today’s marketplace requires customer obsession, BryterCX pioneered Journey Intelligence to give enterprises a comprehensive, unified view of the customer journey.

Ready to learn more?

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