World News: 13:15 GMT Monday 20th March 2017. [ForeSee via Marketwire via SPi World News]
LAS VEGAS, NV -- (Marketwired) -- 03/20/17 -- ForeSee, the leader in Voice of Customer solutions, today announced a new customer experience (CX) product designed to help business leaders understand and accurately represent digital's contribution to the overall business. ForeSee's Digital Contribution product, introduced this week at Shoptalk, gives companies the ability to accurately analyze and understand what customers do when they leave a digital channel, and why.
"Average digital conversion rates are incredibly low -- more than 96 percent of shoppers leave a site or app without buying anything," said Dan Chester, ForeSee's retail practice leader. "Understanding what they do next is one of the biggest challenges facing retailers today. Did they buy from you but in another channel? Did they buy from or visit a competitor? It's impossible to understand or adequately resource digital if you don't have answers to these key questions. Quantifying the positive influence digital is having on other channels drives productive internal conversations and debates."
Accurately measuring and representing the impact and contribution of digital channels across the business is key to understanding the customer journey. The most recent ForeSee Experience Index (FXI) report indicates that one-quarter of visitors who start in web or mobile end up buying in stores. Analyzing what customers do after they leave digital channels gives leaders insight into whether customers eventually purchased elsewhere, and why or why not. Decision makers can prioritize improvements that will impact customer behaviors during their next visit and stem competitive loss.
How it Works
A few days after a visit to a website, mobile site, or mobile app, customers receive a short survey by email or text asking what they did next, including what channels they used, what competitors they visited (online or in store), why they turned to competitors if they did so, and whether they purchased or not using another channel. ForeSee then leverages its proven methodology to quantify digital's contribution to the customer journey. The Digital Contribution product is just one of many ForeSee innovations that help business leaders prioritize strategic and tactical adjustments with certainty.
"It's historically been a huge challenge to measure and understand cross-channel experiences and behaviors, and we're confident this product will meet the immediate need of CX leaders," Chester said. "For instance, we know that 54 percent of mobile shoppers will visit a competitor site or store, or a comparison shopping website, after they leave yours. This tool lets you see where they're going, and why they're going there, with minimal added complexity or setup. It's a layer deeper than conversion, which is quickly becoming an archaic metric."
Find out more about ForeSee's Digital Contribution product online, or visit ForeSee at Shoptalk Booth #1323.
ForeSee pioneered customer experience intelligence in 2001 and has become a recognized leader in Voice of Customer (VOC) solutions. The award-winning ForeSee CX Suite helps more than 2,000 companies worldwide transform their VOC programs into a strategic business discipline that delivers economic impact. Only ForeSee offers a rigorous approach to customer experience measurement, access to an unmatched 200 million benchmarked experiences, and actionable insights from a team of 200 expert analysts that give certainty to CX improvements. ForeSee is headquartered in Ann Arbor, MI and has offices in New York; Washington, DC; St. Louis; Cleveland; San Francisco; Vancouver; and London. For more information, visit www.foresee.com.
Marketwire: 13:15 GMT Monday 20th March 2017
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