Why use Confero’s Mystery Shopping ROI: Suggestive Selling Online Calculator Tool?
Companies use online and on site mystery shopping, customer surveys and other measures of customer experience research in an effort to increase customer satisfaction, which will hopefully turn into customer loyalty. If your company is considering adding a customer experience measurement program (or if you are already using one) it may be helpful to calculate what the potential return on investment may be, right?
Of course, each company’s objectives ultimately determine how ROI will be calculated. Mystery shopping programs typically focus on customer retention, loyalty, and revenue-generating behaviors such as suggestive selling.
Additional Factors to Consider:
- Incremental revenue expected from earning repeat business from current customers
- Improved speed to results, because what gets measured gets done
- Reduction in employee time spent handling customer complaints, as service levels improve
- Reduced cost of bringing in new customers
- Increase in referrals from existing customers as service levels improve and are more consistent
- Increase in revenues from additional products/services sold
- Increase in employee retention and morale by consistently recognizing excellent service results, leading to a decrease in employee turnover
Regardless of the industry, this tool can be adapted to any scenario. Here’s an example of a retail store with 165 locations. It shows the impact that mystery shopping, which encourages suggestive selling, can have on their bottom line. With the calculator, the store estimates the increase in percent of employees who will suggestively sell if they know a mystery shop program is in place to measure this behavior. Next, it looks at the percentage of customers that might accept the upsell and the dollars associated with that.
Experience Confero’s ROI Calculator yourself. It will help youlearn how your company can increase return on investment with customer experience measurement programs.
