rand and CX leaders often get lost in the technicalities of their work, spending hours analyzing data, creating reports, and trying to prove ROI on everything they do. Worse, they often do it all while feeling under-resourced and undervalued by their organization.
Why is that? Well, in many cases, it has a lot to do with failing to speak the CFO’s language.
NPS, CSAT, CTR and CES are all important metrics in the CX space, but if you can’t connect the dots between NPS and ROI for the ones in charge of determining your budget, it will always be an uphill battle.
And that’s the funny part. When actioned on correctly, brand health metrics like NPS or CSAT have a direct correlation with higher customer satisfaction, loyalty, and retention. And those are all things that significantly impact your bottom line. Yet, proving why investments should be made toward understanding them remains a struggle.
Luckily, there is a solution. It’s called attribution modeling.
You’ve probably heard the term “attribution modeling,” aka the science of understanding your customers’ journey and quantifying how each touchpoint contributes to business success. Yes, being able to assign hard numbers to the impact each moment a customer has with your brand is essential – but what about the importance of understanding how emotions influence behaviors? Let’s get into it.
Capturing Emotional Drivers in Customer Journeys
To truly understand and pinpoint the key factors driving customer loyalty and gauge how well desires are fulfilled, you must go beyond traditional marketing analysis and quantify qualitative data on feelings. Using attribution modeling, you can not only identify which touchpoints have the greatest emotional impact but also quantify the role of each emotional driver in the customer journey. Think about it. When was the last time you had an emotionally positive experience with a brand? Was it because of a specific ad or social media post? The order tracking process? Was it because the customer service representative you spoke to went above and beyond to help you solve a problem? Or maybe it was the product’s overall functionality. These experiences reflect both marketing and operational touchpoints a customer will encounter, influencing the overall customer experience and, ultimately, their decision to purchase from you. Understanding which touchpoints drive the most emotion helps you prioritize your efforts toward the experiences that will impact your customers most.
Proving the Value of CX Initiatives
Attribution modeling allows you to back up your CX and brand decisions with concrete evidence. By linking customer behavior and touchpoints, you can make data-driven decisions about future investments in CX initiatives and track the ROI of those investments. This helps prove the value of CX initiatives to your organization and provides the insight needed to optimize your CX strategy. Attribution modeling can also provide a holistic view of the customer journey by analyzing both marketing and operational touchpoints. This means you can understand the entire customer experience, from initial awareness to post-purchase support and identify opportunities for improvement at every step. By taking a holistic approach to CX, you can deliver a consistently exceptional experience that sets your brand apart.
It’s time for CX and brand leaders to start speaking the CFO’s language. That means going beyond the traditional metrics and embracing the power of attribution modeling to understand the emotional drivers behind customer behavior. By identifying which marketing and operational touchpoints have the most significant emotional impact, you can prioritize your efforts to deliver the experiences that matter most to your customers. Even better, you can back up your CX initiatives with tangible data, redefining the perception of brand and CX professionals as mere cost centers. Instead, you can recognize their potential as revenue generators and empower them to drive business growth.