We enhanced a SaaS company’s Voice of the Customer function by developing reusable Excel models that quantified the economic value of customer experience improvements, leading to significant retention gains.
Challenge
A SaaS company had a reasonably mature VOC function, but they felt that the data and insights generated through this quantitative function were not getting the organizational traction they needed, leading to sub-par experience decisions.
Approach
We produced a multiple Excel-based models that allowed insights analysts to estimate the business value of CX improvements in terms of customer acquisition, monthly order value, retention, and other KPIs.
We also worked to embed this new structured way of thinking (data – insights – impact) into all future experience investigations and built reusable slide templates that made this level of analytical rigor the default expectation. This elevated the profile of the Insights team within the company.
Value Delivered
- Reusable models for modelling the economic value of CX
- Quantified the value of a particular UI improvement that retained an additional $720,000 per month of CLV
- Improved staff comfort with quantifying the impact of experience improvements or risks
