However, there are CMS and online store platforms available that can help a business sell products online successfully as well as rank highly through their optimization tools, for example, BigCommerce SEO .
CES is a purely transactional metric used to measure how much effort a consumer has to expend to complete a specific, unique task. This can be in response to after-sales service or even an actual purchase.
How easy or difficult a certain task was for the buyer tells you philippines number which functions of your business are working properly and which need more work.
Unlike NPS and CSAT in terms of the analysis required to understand your score, it also allows you to discover which customers are struggling.
When you can realize that, you can reach out to them yourself to try to help them. This action helps you both increase the level of satisfaction and build an image and relationship with them, which, in turn, can make them more loyal to your brand.
Customer churn rate
The opposite of retention rate, churn rate is the measure of the total customers or business value you lost over a specific period of time.
For example, out of the 100 consumers who joined you at the beginning of the quarter, 25 of them stopped using your products and services for various different reasons. So, in this case, your churn rate at the end of that quarter would be 25% or the equivalent of the amount they would have spent as your buyer.
Also, similar to the retention rate mentioned above, it is of utmost importance to find out why a customer leaves and what can be done to stop it. In general, it has been observed that acquiring new customers is much more stressful and costly than keeping existing ones satisfied and happy.
While we are aware of the immensity of this metric and the difficulty you may face when trying to track all the causes responsible for this loss, an infographic in the form of an abstract design can provide much-requested help.
Customer Lifetime Value (CLV)
The total expected profit that comes through a particular consumer, over a specific period of time, can be attributed to that person's Customer Lifetime Value .