Recent research by the Chief Marketing Official (CMO) Council confirms that for many executives, revenue metrics are the top measurement used to gauge the success of their customer engagement efforts.
“More than a third of respondents said that revenue metrics, like customer lifetime value, revenues per customer, and overall revenue increases, were the primary type of metric they used to measure consumer engagement,” according to an eMarketer report.
About 30 percent of surveyed execs also cited campaign metrics, including clicks, conversions, shares, traffic, and web analytics, as primary metrics. However, fewer marketing executives said they relied on sales enablement metrics, service metrics, and finance metrics to measure overall customer engagement success.
“Though not the most popular way to gauge successful engagement, customer service is important—and many consumers feel that good service makes them feel more positive about brands,” noted eMarketer. “In fact, nine in 10 internet users worldwide said so in an August 2015 survey from Ovum and Opinium Research LLP.”
For many consumers — about 81 percent — the issue is often simply to have their questions answered — “implying quite a low bar to reach for adequate customer service.”
While revenue is an obvious top line measurement that matters, customer service remains a critical arena for contributing to brand loyalty as well as boosting future brand revenue.