4 Ways to Optimize Business-Critical KPIs Using Journey Orchestration

The economic challenges and uncertainty facing businesses right now means decision makers are searching for smarter ways to reduce costs, increase profits, and ensure the success of the most valuable KPIs. To support these goals, CX teams must take action to understand and optimize customer journeys. Those that do will significantly improve the performance of KPIs relating to critical areas such as cost reduction, customer churn, revenue, and customer satisfaction.

In this article, we explore four ways Customer Journey Analytics and Journey Orchestration technology can be utilized to help CX teams make this happen.

1 Reduce high-cost interactions

Imagine this – a customer is trying to make a payment online but an error message is preventing them from completing the action. As a result, they’re forced to contact the call center. Not only is it a poor customer experience, but it also costs your business time and money.

With Customer Journey Analytics and Journey Orchestration, teams have the power to identify such friction points in the moment and orchestrate real-time experiences to solve it and keep individuals moving. This reduces the number of customers needing to engage with higher-cost channels, as well as improves customer satisfaction.

Find out how a leading utilities company saved $7.5 million in call center-related costs using Alterian’s Real-Time CX Platform.

2 Identify the cause and likelihood of customer churn – and stop it before it happens

At a time when new customer acquisition is increasingly expensive, customer retention must be a priority. Customer Journey Analytics and Journey Orchestration allows teams to pinpoint when a customer becomes disengaged and when they are most likely to churn, and then delivers an individualized experience in real-time to prevent the churn moment and keep the customer moving towards their goal.

Not only does this improve conversions, but it also ensures revenue-driving activities such as recurring payments and renewals are as seamless as possible for existing customers. Additionally, improving customer loyalty drives up lifetime value, improves long-term brand reputation, and increases the likelihood of attracting new customers.

Find out how a rideshare company leveraged Customer Journey Analytics to reduce churn and capture more recurring revenue.

3 Identify and take advantage of untapped revenue streams

In a challenging economic climate, diversification of revenue streams is one of the most effective ways to strengthen business resilience and stay ahead of the competition. Because it eases the burden and reliance on those key income sources that a business has traditionally relied upon.

A platform such as Alterian’s Real-Time CX allows CX teams to:

  • Identify breakpoints and prioritize the fixes that will increase revenue.
  • Activate all channels and deliver real-time individualized experiences that optimize purchase journeys, reduce steps and customer effort, and improve speed-to-decision and conversions.
  • Create experiences across all channels that promote repeat purchases and initiate cross-sell opportunities.

Find out how Real-Time CX helped one travel company increase high-value customer conversion by more than 19%.

4 Improve CSAT by enhancing the customer experience

Customer Journey Analytics and Journey Orchestration technology equips teams with the tools they need to identify the events causing customer dissatisfaction and swiftly resolve them to improve the customer experience.

Why is this so important right now? Satisfied customers reward businesses with loyalty and the value they bring to the business over their lifetime. What’s more, happy customers are likely to mention a positive customer experience to their family and friends. A recent Deloitte report found that people share their positive experiences with an average of nine people, making them one of the most cost-effective ways to acquire new business.

Find out how this retailer used the power of Customer Journey Analytics and Journey Orchestration to improve its CSAT by 10%.

Customer journeys are critical to the success of business-critical KPIs. Investing in technology that supports the optimization of the customer experience is key to remaining competitive and ensuring stability and success into the future. Armed with the right Customer Journey Analytics and Journey Orchestration technology, CX teams can efficiently and cost-effectively identify and understand customer journeys at scale and deliver individualized experiences that ensure positive returns for the business. This is vital during these financially precarious times.

Ready to start your journey, your way? Get in touch to find out how Alterian’s Real-Time CX can support your goals and drive KPI success for your business.


Journey Discovery Get Started Banner