Quantified the value of Customer Experience on Revenue
An estimated 10% customer rating improvement would lift CLV by 4.5%
Observed CLV improved by 15% over 6 month period
The business team knew that customer experience affects Customer Lifetime Value (CLV). Unfortunately, it was difficult to understand how to quantify it in order to measure if CX improvement has any effect on a business. The team also faced issues with getting all the necessary data in place to generate required reports.
Unlike their previous vendor, StackTome integrates with all necessary data sources making data access available with few clicks. Once data is retrieved, the app generates the relation between CLV and the Review rating report that quantifies the impact of CX on businesses' bottom line. This made it easy for the company to commit resources to spend on improving the Customer Experience, which after six months of tracking showed a 15% CLV improvement across all customer cohorts.
“With StackTome, we feel that they are part of our team, rather than partners. StackTome helps us focus on our customers, their actions, and behaviors. With the data that this tool collects for us, we can drive the results we want. Definitely, the best Customer Data Platform we have ever used!”