How an effective CX Journey mapping leads to increased ROI?

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CX Journey

How many of you are familiar with the ‘making of Pringles’?

This potato cracker of perfection is the best example to explain how customer experience mapping led to the success of the ‘chips’ story. Back in 1960, the fast production methods led to a boom in the food industry, so did the demand for the bags of potato chips. But concerns like potato chips go stale, crumble easily, and gets greasy. 

This made the manufacturers think of alternatives to achieve perfection. Procter & Gamble appeared in the picture and appointed a chemist to apply a geometric formula to create saddle-shaped chips packed in an airtight, tamper-free container to attain the pringle perfection. Now, this crisp savory now became a billion-dollar product sold across 140 countries with about 30+ flavors. 

It took more than 50 years to set off the Pringle to success, today the processes are faster and efficient with technology and tools to measure customer experience in real-time. Adding to context, the market hype has shifted to gadgets, app stores, and software, and the new updates are all to keep up the customer interest. 

Yet the ground principle in coming up with better versions had always been customer journey mapping, a hot tool to empathize with customer’s emotions, interacting with the brand’s touchpoints or products. The disciplines include both tangible and intangible experiences, beyond the organization’s reach. 

Why is customer experience journey mapping important?

A formal definition of customer experience mapping would be a visual representation of every experience layer, starting with initial awareness about the product to post-purchase behavior.

The journey maps integrate the differential point of customer-brand interactions to investigate the product loopholes resulting in experience gaps and solutions to resolve the concerns. It focuses on the ‘outside-in’ approach to follow-up user cases and brand interaction metrics.

Thanks to the omnichannel brand presence, which helps the management to craft an elaborate visual map of the customer journey. Today, a digital brand presence includes official websites, mobile applications, and social media pages where the products & services are highlighted.

From these virtually mounted platforms, experience points are collected to measure metrics like customer satisfaction, conversion rate, average response, amongst others. This complete backend research data contributes to the strategic advancement in customer experience designs.

The above attributes are proven reasons why customer experience mapping is a key element to derive customer insights. Back in 2018, Gartner revealed that about 60% of the organization already have in-house customer journey mapping capabilities 2018 and the adoption percentage is on the rise in the coming years.

How Customer Experience Mapping is cashing ROIs today?

Customer experience managers are expected to benchmark the consumer experiences and consumer experience mapping through polls, surveys, interviews on multiple platforms to help them to attain the goal. The CX leaders are the topline users of the customer experience mapping for the lucrative gain of insights about the trend in-line, how the product experience changes with demographics, and in-depth product analysis to step out of the experience gaps. In return, the CX leaders enjoy a 200% increase in employee engagement, 350% increase in product revenue.

Here are few mind-bending facts that mark the significance of CX Mapping for RoI generation-

  • It streamlines the advertisements and media boost which results in trimming the marketing investments by up to 50%.

  • It helps cut the steps in the process for the customer service operation which improves the cost of customer service by 10 folds

  • It fosters a positive brand experience for the customers

  • It improves organic brand promotion and social media mentions by almost 20-25% leading to smart customer engagement

  • It leads to more word-of-mouth promotions and customer referrals with 3.5 times of greater revenue generation as a bonus RoI

  • It also improves the sales cycle and the rate is about 18 times faster than those with poor customer mapping skills

  • It involves both topline and bottom-line revenue generation for the brand by up to 50% more upsell of the brand products

Customer Experience Managers work closely with other managers as well as senior enterprise leaders to optimize product research and development, customer service, usability, and marketing. Having a sound understanding of how customer engagement mapping works, the CX leader will definitely have an upper hand in pushing the business forward.

If you aspire to boost your prospects as a CX leader, the Advanced Management Certification Program in Transformational Customer Experience Management from IIM Kozhikode & WileyNXT is perfect to take your career to the next step. A carefully curated program that builds skills to design and implement a winning and measurable customer-centric experience across the entire customer journey.

Miles Education, always committed to your career success brings to you new-age certifications in Finance and Emerging Technologies. We have partnered with top IITs/IIMs and WileyNXT to present PG certifications in AI, ML, Deep Learning, and Analytics.

To know more and to apply visit Miles Education today.

1 thought on “How an effective CX Journey mapping leads to increased ROI?”

  1. Satish Bhatnagar

    We ll written, short article. Any industry would benefit from Customer focussed policies. I recall Tom Peters’ articles on customer service.

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1 thought on “How an effective CX Journey mapping leads to increased ROI?”

  1. Satish Bhatnagar

    We ll written, short article. Any industry would benefit from Customer focussed policies. I recall Tom Peters’ articles on customer service.

Leave a Comment

Your email address will not be published. Required fields are marked *

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