Understand and Measure Customer Journeys to Improve CX and Customer Loyalty
Customer journey maps provide a great baseline view of the path you believe a customer may follow, but customer journey analytics shows what customers are doing with real data. This uncovers their true needs and frustrations, allowing for a deeper understanding of customer journeys and ultimately boosting customer satisfaction and loyalty.
Customer journeys are unique and often complicated. Customers often interact with multiple departments at a company across many channels (such as email, website, social media and the contact center). Interpreting what is happening and building a real-time, cross-channel customer profile is challenging.
Without this understanding of customer behavior, it is difficult—if not impossible—to do what it takes to enhance the customer experience (CX). With journey analytics, you can:
Personalize experiences
Avoid communication clutter (i.e., sending irrelevant, conflicting, or too many messages)
Deliver proactive customer service
Optimize touchpoints
What Are Customer Journeys?
Journeys are customers’ paths and perceptions as they pursue a goal.
CUSTOMERS
Individuals or groups.
PATH
Includes interactions with your business, other businesses, and other people—and things customers do by themselves.
Customer attempts to log in to the portal, and then calls customer service for assistance.
PERCEPTION
Emotions and value perceptions.
Customer visits your website to find the payment portal in order to pay a bill.
The customer is frustrated by waiting on hold for 10 minutes to reach an agent.
GOAL
What customers want to achieve (NOT being acquired or onboarded).
73% of CX leaders
find it challenging to analyze and make sense of customer data to gain insights about customer behaviors
Customer Journey Analytics
Customer Journey Analytics: The Foundation of CX Improvements
Journey analytics provides a comprehensive view of your customers’ interactions with your brand across all touchpoints. By tracking and measuring every customer engagement, you can understand customer behaviors, identify patterns, and uncover opportunities for improvement. This data-driven approach enables you to measure the impact of customer experiences on business outcomes, monitor CX performance, and make data-informed decisions to optimize the customer journey.
Journey and performance analytics measures:
Customer Intent Indicators
Intent to purchase or cancel
Observed product preferences
Switched channels
Journey completion
Key Service Indicators
First call resolution
Dropped calls
Sessions Errors
VoC Scores
Key Marketing Indicators
Page loading times
Page views
Email open rates
Click-through rates
Social Sentiment
Customer Experience Measurement
Net Promoter Scores
Customer satisfaction
Average Revenue Per Customer
Customer lifetime value
Being able to consolidate data sources is something that many claim but few truly achieve, we were able to achieve that because of CSG Xponent. This comes with instantaneous impact to the business as we see in real time how actions taken directly impact customer behavior.
CSG Reference Customer
Core Capabilities
Unify customer data by gathering information–including structured data (such as forms and transactions) and unstructured data (such as customer reviews, text and social media) across all channels. Omni-channel journey orchestration provides a holistic view of what customers are doing, experiencing and feeling at every touchpoint across the entire customer lifecycle–not just the point of sale.
Monitor how prospects and customers travel through the ideal (or mapped) journey, including key decision points and friction. How do the actual results compare with your journey map? By combining CX metrics [Net Promoter Score (NPS), effort score] with operational, brand, financial and employee data, journey analytics provides a holistic view of journey success and identifies areas.
Guide journey orchestration. By connecting customer experience metrics (NPS, engagement, satisfaction) with business objectives (customer lifetime value, revenue, profitability), journey analytics helps companies make data-driven decisions about how to orchestrate the customer journey for optimal business and customer outcomes.
Measure and optimize the value, outcomes (including steps initiated by customers) and impact across the customer journeys. By analyzing realtime customer information alongside historical and operational data, journey analytics builds a complete picture of the customer journey (including identifying where customers drop off the journey and across which touchpoints).
Why Use CSG Xponent for Journey Analytics?
CSG customers using journey analytics have experienced:
Fast time to value. By implementing journey analytics to examine friction in the loan application journey, a national life insurance company gleaned insights in as few as two weeks after adoption, ultimately increasing the number of consumers who became customers.
Reduced call volumes. A consumer financial services company uses journey analytics to identify repeat callers, determine why they’re calling and pinpoint the best time and method to contact them to resolve their issues.
Incremental sales success. By using journey analytics to identify friction points in the customer application journey, a U.S. bank increased customer sign-ups for an investment tool by 14%.
Are you ready to begin improving