A new study released by the CMO Council shows relying on ‘clicks and views’ as the top measure of customer impact is, well, not really effective in understanding the customer experience.
The study —“Making Personalization Possible”— shows how leaders are changing their approach by measuring real business outcomes. Finally.
Key findings of the study identifies improvements in retention rates as the number one metric to measure customer experience success, followed by acquisition rates as number two. New measurement categories include customer lifetime value and up-sell/cross-sell engagements. And if you want an even closer look, more unconventional measures can include how well the measurements are measuring.
We now have a study to tell us what we’ve always known: creating a personalized experience for customers will have a positive impact on your business. Who knew?