It’s easy to prove ROI of a merchandising product by the sales increase it creates. It’s much more difficult to prove the ROI of the consumer experience. But just because it’s difficult to prove, does not mean it doesn’t exist. The Temkin Group, a leading consumer experience research and consulting firm, recently published a study that dug into how the customer experience makes a difference. For companies that had “very good customer experience” ratings versus “very bad customer experience” ratings, here is the impact of a very good customer experience:
- percentage of customers who plan on purchasing more is 18 points higher
- percentage who will forgive the company if it makes a mistakes is 12 points higher
- percentage who will try a new offering is 10 points higher
- percentage who trust the company is 19 points higher
Taking this one step further, the Temkin Group also put a 3 year dollar figure on consumer experience across 20 different industries, and the results are pretty clear. Creating a positive customer experience can drive an ROI for your business. You can read the summary of the study here.
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