How do you calculate the ROI of the solution?

There are multiple ways that we can calculate ROI for this solution. Essentially there are 3 direct measure effects of a successful CX program.

Churn reduction

This is measurable at different points in the customer journey. I’ll provide 2 examples below, but there are other measures as well.

1. 1. At the point of sales: A positive experience at the sales event has a huge impact on the person buying the vehicle. We did this analysis for Toyota itself and showed that customers who finally bought the Toyota vehicle, were 3X more likely to have a memorable moment at the sales.
3. 2. At the point of service: For one of your competitions, we have shown that customers who have a good service experience are more likely to return to service their car at the same dealership.

Cross Selling

This can be measured when you look at the entire customer journey in totality

We have seen in the finance industry that the average asset under management (AUM) number for the customer increases as the customer renews over multiple years and is a loyal customer. Similarly in Auto, we can measure the total vehicles that have been purchased by the user from your brand to know if the portfolio is increasing.

Network Effect

Referrals are one of the top measurable KPIs that we can track to see the direct effect of the delighted customer. When customers are delighted they are a lot more likely to recommend the brand to their close friends. This is something we can measure by including the right questions at the sales event.

Related guides

For related reading, see Exploratory vs Descriptive vs Predictive Survey Research, Are Focus Groups Still Relevant in the Age of AI and Predictive CX, Exploratory vs Descriptive vs Predictive Survey Research, Focus Groups vs. Digital Surveys: Choosing the Right Listen Methodology for Deep Insights, Driver Analysis in CX: Know What to Fix First, and Response Rate vs Completion Rate: What’s the Difference.