“Great customer service may result in good sales.
52% of buyers have acknowledged that making additional purchases from the same brand is based on customer service experience”
Being a product manager, you’d have spent countless hours designing a perfect e-commerce site, ensuring all the buttons are in the right place and images have the ideal caption. But the real challenge begins when your customers hit the “checkout button” once they’ve chosen the products to buy. The journey from checkout is where the real e-commerce customer experience kicks in.
E-commerce customer experience management is where you try to keep your customers within the platform till their purchase. End-to-end customer fulfillment plays a critical role in the e-commerce industry that defines the quality of a great customer experience.
This is a series of blogs, where I’ll walk you through all about e-commerce customer experience, how to measure a great customer experience for your e-commerce or online retail platform, and how 5 significant factors help the e-commerce and online retail industry reap better revenue and customer experience using an e-commerce Conversational AI chatbots.
Well then, Let’s get started!
What is all about E-commerce Customer Experience?
E-commerce customer experience is the whole process where the customer goes through when they’re interacting with your brand. i.e., the entire shopping journey right from finding the e-commerce store, purchasing the product, and how well your brand deals with the customer when they attempt to return, and inquiry for help.
Why Customer Experience is a Policy-Speak for the e-Commerce & Retail Industry?
- US businesses lose almost $35.3B annually in customer churn rate caused by poor customer experience and service.
- 56% of consumers feel that the quality of customer service they receive impacts their positive experience with the particular brand compared to other brands.
- Customer experience drives 2/3rd of customer loyalty overtaking the brand name and price combined.
All these stats are promising reasons why customer experience plays a significant role in e-commerce business success. Obviously, people and products are the driving wheels for any brand but delighting your customers with superior customer support assistance keeps the momentum thriving. A superior customer experience and service act as a foundation for your e-commerce selling opportunity.
How to Measure Customer Experience in eCommerce?
There are a lot of metrics available to analyze the growth of your sales, but there are only certain KPIs present systematically to measure customer experience. Customer metrics are typically measured based on numerical scores, touchpoints, and other specific parameters. Here is a list of top metrics that every eCommerce firm must undergo to track customer experience and find immediate solutions to enhance CX.
Customer Effort Score (CES)
The CES metric is based on how much effort your customers put into interacting with your brand. The CES feedback survey must be available in real-time after the customer deals with an issue or connects with the support team. With the data of the submitted CES, you’ll be able to determine the effortless experience your brand delivers to the customers. The higher the score, the better customer service. A low score determines the possibility of improving specific customer touchpoints or services.
Customer Lifetime Value (CLV)
Customer Lifetime Value measures how much your client is worth over a lifetime. With the CLV report, brands can make information-based marketing and sales decisions. Customer experience serves as the fundamental criterion to improve customer retention rate, thus CLV acts as a tool to predict customer retention rate and profit. The CLV report can be extracted from a CRM or Enterprise Resource Planning tool.
Customer Satisfaction (CSAT)
Every order or major action made by a customer must be followed with a CSAT survey that usually scales from 1 to 5. This survey lets the brand understand whether its service has met customer expectations. Followed the survey, and ask a follow-up question on which area your business needs to improve. This will give a better idea of where you need to improve.
Customer Churn Rate (CCR)
Customer churn rate determines the rate at which your customers stop doing business with your eCommerce store over a certain period of time. This is one of the critical factors where you need to redefine your marketing strategy and retention programs to keep the churn rate low. With the help of CX metrics, brands can address the setback and lower the customer churn rate.
First Contact Resolution (FCR)
The term itself implies that first impressions last. These CX metrics aim to solve all customer queries or issues as quickly as possible without demanding follow-up requests. Efficient and quick contact resolutions result in a good number of customer retention rates and help to achieve higher customer satisfaction ratings.
Average Time Resolution (ATR)
For any business, it’s essential to resolve customer complaints or issues as quickly as possible to deliver better customer satisfaction. To deliver higher customer satisfaction, the average time resolution matters. In customer support or service management, different sorts of issues demand inconsistent time to resolve. So maintaining an average resolution time across your live chats and call centers improves overall customer experience. It also acts as a benchmark to measure and keep improving your customer support team.
Creating a great e-commerce customer experience is not just significantly important to your customers alone, but also for your e-commerce business. Here are a few ways to improve your e-commerce customer experience.
Beyond metrics, analyzing your customer journey experience defines the overall relationship between customers and your business. Building a customer journey map is a great way to achieve customer satisfaction and build loyalty.
Build Data-Driven Customer Journeys for Better Revenue & Customer Experience
Measuring customer experience using practical metrics helps to boost revenue and entice new and existing customers. eCommerce brands to stay ahead of the game, need to invest in building results-driven customer journeys with the help of Conversational AI bots. Twixor is providing one such CA Automation platform that enables ecommerce brands to set up their custom journey flows based on use cases, engage them, and retain them through running personalized campaigns across customers’ preferred messaging channels.
