As a leader, I’ve learned that it is important to always be trying new things. If you are not constantly evolving and changing your approach, then someone else will come along and do it for you. However, this doesn’t mean that we should change everything at once. So how do you know when to change? It’s typically easier to create new change but what about changing what was once “right”? In this blog post, I want to share a thought around revisiting your customer journey and KPI metrics and how leaders evaluate past decisions and know when they need to stop doing what has been successful for them and start looking into other ideas or approaches.
The first element to focus on is your customer journey and how your customers are interacting with your products or services. Many aspects of your customer journey, defined or undefined, evolve over time for a variety of reasons. A primary driver of change would be technology, but who knows, maybe a pandemic will upend everything you’ve built. As external factors evolve consumer’s lives, you must continually evaluate each stage of the customer journey (i.e.: Awareness, Consideration, Purchase, Retention, Advocacy) is being experienced. Are the tools and tactics you’re using inside of each stage still relevant to you AND your customer(s)? Take an hour out of your day and re-walked the customer journey and participated in the process yourself for a moment. Take a look back and 3-4 of your past leads/prospects and do some research around their experience with your organization as it relates to the customer journey.
Once we’ve reviewed our customer journey and realigned it with the customer expectations, metrics are your next stop. We all have metrics and we’re not going to cover in this post discerning between vanity and real metrics, but let’s spend some time looking at the metrics as they relate to the customer journey. Each stage has metrics nowadays we can track everything from impressions on ads, to engagements within email newsletters, live chats on your website and thats just scratching the start of the customer journey. Now is the time to make sure your metrics are applicable and I’ll give an example that we see happening a lot right now.
For example, retail storefronts typically count “door-swings” as a KPI. This is a great measurement for the Consideration stage, but what happens when those numbers fall lower and lower but your sales are climbing up and up? Does it mean that you have a hot product? Or that you have targeted better customers? Or does it simply mean that the customers have done more evaluation (consideration) online (typically Awareness) and your customers are self-qualifying themselves? If you make an assumption that it’s one of those three scenarios without analyzing the reality, you’re making broad assumptions and doubling down on something that is unsubstantiated with data. If so, maybe you should consider adding live-chat functionality and pairing that with your door-swing KPI!
So in closing, it is important to remember that you are always a student of your customer. If you’re not constantly re-evaluating and learning more about how they interact with your business, then someone else will come along and change the game on you!