Harsh Truth: Why So Many Retail Customer Experience Leaders Are Unable to Demonstrate ROI

Harsh Truth: Why So Many Retail Customer Experience Leaders Are Unable to Demonstrate ROI

Harsh Truth: Why So Many Retail Customer Experience Leaders Are Unable to Demonstrate ROI

According to Forbes, companies great at customer experience (CX) and customer-centricity are 60% more profitable and bring in 5.7X more revenue than those that aren’t.

So why don’t brands invest more in CX? Why are business leaders ignoring CX metrics? And why is a good business case for CX often dismissed?

The reason retail customer experience leaders fail to deliver ROI

The primary reason many retail customer experience practitioners fail to demonstrate the ROI of their program has a lot to do with the challenge in aligning metrics to actions and those actions to outcomes.

Simply put, CX practitioners need to focus on the right metrics and have the right tools to analyze their data and make effective decisions.

But with hundreds of data analytics solutions on the market, why aren’t more companies using tools like text analytics to gain a deeper understanding of customer and employee feedback?

If you’re making critical decisions based on data that impact your ROI, you need to know those metrics are accurate and have the confidence to stand up to scrutiny. With new and better ways of analyzing data, tools like SMG’s AI-text analytics enables you to:

  1. Get an accurate read on customer sentiment
  2. Identify + group comments by important categories and products
  3. Retain context + meaning through native-language processing
  4. Surface + aggregate emerging trends across feedback channels

Better still, when you combine multiple tools within a robust platform e.g., intuitive dashboards, role-based reporting, AI-native text analytics and case management, you are one step closer to demonstrating ROI and the value of your CX program.

Is your current CX program transforming the way your company operates? Don’t overthink it. Instead, read our Ultimate Guide To CX ROI and learn more about what ROI you should expect from your retail customer experience program.