Calculate ROI on Mystery Shops
May 28, 2019 by Confero Inc.
Customer experience measurement programs are not just nice to have; they need to show a return in terms of dollars. Confero offers a helpful calculator to do just that.
Your own unique objectives ultimately determine how ROI will be calculated. Mystery shopping programs often focus on areas such as customer retention, loyalty, and revenue-generating behaviors such as suggestive selling. Consider these factors when figuring your own ROI:
- Reduction in employee time spent handling customer complaints, as service levels improve
- Reduced cost to gain new customers
- Incremental revenue expected from earning repeat business from current customers
- Increase in referrals from existing customers as service levels improve
- Increase in revenues from additional products/services sold
- Increase in employee retention and morale as employees are recognized for excellent service, leading to a decrease in employee turnover
Regardless of the industry, this tool can be adapted to any scenario! We invite you to try the ROI Calculator to estimate the return from your program.