The Power of Steps

The classic funnel model is still

We covered the idea of macro vs. micro conversions and breaking it down into the smallest step possible that you are helping your customers take. Seeing your customer behavior in this incremental fashion can help you understand the different types of friction and barriers they experience interacting with you.

Just as important is your ability to inspect and measure the performance of your customer experience. Putting a number on the yield of your entire marketing operations (# “out” / # “in”) gives you a sense of overall efficiency. It answers the question of how well are you spending your precious budget. Campaign level metrics help understand which tactics are more effective for each stage of your customer’s lifecycle. Questions like is this retargeting message more effective than other creative at getting abandoned application leads to come back and finish.

Micro conversion metrics can put it all together for you. Does this particular display ad contribute at all to new loan applicants? Is splitting the new account application across four shorter screens instead of three longer ones more effective at yielding completed applications (and happier applicants)?

For your digital experience, web analytics plays a critical role. But for both online and offline, having a well thought out customer journey, with actions and contingencies for every offramp of place they could get stuck, can tilt results dramatically. The listening that happens at every juncture, whether a click or scroll or branch/ATM interaction, is the key to understanding yield and the relative value of each customer at each step.

Example Customer Journey from the great tool UXPressia

Taking the next steps to fill in the blanks in your intuition and back it up with data is how top-performing brands get ahead. If you’re thinking about how to get more bang from your customer acquisition and retention buck, journey optimization is a great way to find low hanging fruit. If you need help getting started, let us know. We’re here to help and get you pointed in the right direction and make that stepwise jump to the next level of performance.

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