Efficiency / UK / Retail & Consumer Goods
$85m anticipated sales gains based on improved CSAT performance
"Ipsos linked survey data with longitudinal sales data which demonstrated a positive association between CX and sales."
Business issue
A large retail chain wanted to understand the potential impact of improving CX performance on sales, as well as the potential gains from increased satisfaction, and which aspect of the customer experience could generate the biggest uplift in sales.
Our solution
Ipsos linked survey data with longitudinal sales data which demonstrated a positive association between CX and sales.
Using a simulator to render actionable insights, Ipsos illustrated potential gains and highlighted that satisfaction with the customer experience should be the overall goal, with huge sales potential as a result. In particular, it demonstrated that if 1 in 10 of the moderately satisfied customers became satisfied, the simulated gain in sales would be $85m.
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Impact
Ipsos identified the potential losses if satisfaction levels were to fall, in turn highlighting to the business the importance of maintaining a good customer experience.
In contrast we also found that the potential for losses, if even 1 in 10 moderately satisfied customers became dissatisfied, was even greater than the potential for gain.
This underlined the threat of complacency and the importance of maintaining levels of customer experience satisfaction, even where scores are high.
