20 Customer Journey Metrics Mapped to Each Stage of the User Journey
Understanding customer journey metrics is essential for any business looking to boost its sales. By analyzing customer lifetime value, churn rate, and other metrics, you can evaluate the effectiveness of your marketing efforts and get a better grasp of your customers' behavior. This information is crucial for refining your strategies and increasing engagement at every stage of the customer lifecycle management process, enabling you to attract, retain, and grow your customer base. If you want to optimize your marketing campaigns and build a loyal customer base, learning more about customer journey metrics is a must.
What are Customer Journey Metrics?
A customer journey metric is a quantitative measure used to evaluate and analyze various aspects of the customer journey, helping businesses understand how customers interact with their brand throughout the entire process. These metrics are crucial for assessing the performance and impact of customer journey initiatives. Customer journey metrics can include a range of key performance indicators (KPIs) and indicators such as:
- Conversion rate
- Sales volume
- Average order value
- Customer lifetime value
- Retention rate
- Churn rate
- Cost per impression
- Cost per click
- Lead generation rate
- Email response rate
- Return on ad spend
- Customer acquisition cost
- Customer retention cost
- Customer loyalty score
- Net Promoter Score (NPS)
- Reviews and ratings, and more.
Why are Customer Journey Metrics Important?
By tracking these metrics at different stages of the customer journey like awareness, interest, desire, and action, businesses can optimize their strategies, improve customer satisfaction, increase revenue, and enhance customer loyalty.
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10 Main Benefits of Tracking Customer Journey Metrics
1. Improved Customer Satisfaction
By understanding the various touchpoints and pain points in the customer journey, businesses can identify areas where customers are experiencing frustration or difficulty and make targeted improvements to enhance the overall customer experience.
2. Enhanced Customer Retention
Customer journey analytics helps businesses identify churn points and triggers, allowing them to pivot and keep customers engaged, ultimately reducing customer churn and improving retention rates.
3. Increased Revenue
By optimizing the customer journey, businesses can reduce costs while growing sales. This is achieved by identifying enhancements and implementing improvements throughout the customer journey, which can lead to increased revenue.
4. Boosted Customer Acquisition
Customer journey analytics enables businesses to respond in real-time with relevant communication, eliminating sales challenges and boosting customer acquisition.
5. Data-Driven Decision Making
Customer journey analytics provides real-time insights that align every member of the organization on journey performance. This data-driven approach enables businesses to make informed decisions about how to improve their marketing strategies and customer satisfaction.
6. Predictive Insights
Customer journey analytics is data-driven, enabling businesses to predict customer behavior based on historical interactions. This predictive capability helps businesses anticipate and prepare for customer needs, leading to better customer experiences.
7. Streamlined Operations
By analyzing customer behavior patterns, businesses can identify areas where customers are experiencing friction or frustration. This information can be used to streamline processes, improve product design, and enhance overall customer satisfaction.
8. Personalized Customer Experience
Customer journey analytics helps businesses understand what drives customer decision-making and how to best serve their needs. This understanding can be used to create personalized experiences that cater to individual customer preferences.
9. Competitive Advantage
In today's competitive business landscape, providing a seamless, secure, and personalized customer experience is crucial for differentiating a business from its competitors. Customer journey analytics plays a key role in achieving this by enabling businesses to understand and optimize their customer journeys.
10. Continuous Improvement
Customer journey analytics is a continuous process that involves setting goals, gathering data, continuously optimizing the journey, and tracking results. This ongoing approach ensures that businesses stay up-to-date with evolving customer needs and preferences, leading to sustained growth and success.
Unlocking Revenue with No-Code Customer Journey Management
We provide a comprehensive solution for managing and enhancing customer journeys, delivering insights and measurable outcomes with no code. We accelerate your customer journey from onboarding, activation to conversion and churn. Enabling customers to unlock revenue from their existing user.
With Rengage, you can get insights into your segments, run campaigns with an intuitive journey manager, and get insights to measure how your journeys impact users conversion through our Journey Moments and Journey Builder features.
- Journey Moments: insights into your micro-segments,
- Journey Builder: intuitive multi-channel marketing automation
- Insights prediction and attribution.
Book a free demo to learn about how you can transform customer interactions into personalized experiences that drive loyalty and growth.
20 Customer Journey Metrics Mapped to Each Stage of the User Journey
1. Impression
Impressions are the number of times when your content is displayed to a user. It can be of different channels, like emails, digital ads, social media, etc. This KPI offers insights into the initial phase of customer interactions and the visibility of your presence to customers.
You can easily determine your total impressions by using tools like Google Search Console. For that, you can go to the search results under the performance tab of the Google Search Console and select web as the search type to see the number of total impressions.
There are a number of things you can do to improve your website impression, for example
Create high-quality content for your target audience: This involves knowing what kind of content your audience needs and making sure to follow Google’s Search Quality Evaluator Guidelines. Promote your website on social media. Share your content on social media and interact with your followers.
This will help to increase awareness of your website and drive traffic to it. Run paid advertising campaigns. Paid advertising can be a great way to reach a wider audience and improve your website impression.It is important to target your ads carefully and set a budget that you are comfortable with.
2. Click through rate
Click-through rate (CTR) is a metric that measures the number of times a user clicks on a specific link or advertisement divided by the number of times the link or ad is shown. You can track it to assess the effectiveness of your communication channels (like blog posts, emails, demo clicks, etc.) in persuading users to click on the content.
To calculate CTR, you can divide the number of clicks by that of impressions and multiply it by 100.
Strategies to Boost Click-Through Rates
Depending on the specific content you’re aiming to enhance CTR for, there are various strategies to boost click-through rates. But here are some tips for you:
- Your headlines and titles are the first things people see, so it’s important to make them count.
- Use clear, concise, and attention-grabbing language that accurately reflects the content of your page or ad.
- You can also try using numbers, power words, and questions in your headlines to make them more appealing.
- Use strong call to action. Tell people what you want them to do. Whether you want them to visit your website, sign up for your newsletter, or make a purchase, make it clear in your call to action. Use strong, persuasive language and make sure your call to action is easy to find, i.e. by using a banner.
- Use urgency and scarcity. Create a sense of urgency or scarcity in your headlines and copy to encourage people to click. For example, you could use phrases like “Limited time offer” or “Only a few left.”
3. SEO ranking
The SEO (search engine optimization) ranking is the position a website or a particular web page appears on the search engine result pages (SERPs) for a particular query or keyword. This KPI is important to track and optimize, as the search results directly impact your website’s visibility to potential customers.
You can assess your SEO ranking by checking your website’s average position with Google Search Console. When we talk about improving SEO ranking, there are a lot of things to do, but the most essential thing is to follow Google Search Central Guidelines before anything else. As Google wants to provide users with the most relevant and useful results possible, investing in your content quality is also a must. This might involve delivering well-researched, informative, and actionable content.
4. Onboarding completion rate
The onboarding completion rate is the percentage of users who complete their onboarding process. It indicates the level of user onboarding engagement, like finishing the onboarding checklist, flow, interactions with tooltip, etc.
You can measure the onboarding completion rate by tracking the completion percentage using custom event tracking – meaning grouping a list of user activities that lead to activation.
Ways to improve onboarding completion rate
- Use welcome surveys to capture customer data and personalize customer experience during onboarding and later.
- Add step-by-step guides using onboarding elements like tooltips to remove friction and help users experience your product’s value.
- Collect feedback to understand where users struggle and what they find valuable. You can use the collected data to offer help where it is needed.
5. Trial to paid conversion rate
The trial-to-paid conversion rate measures the percentage of users who convert from free trial users to active paying customers. It lets you assess if your product successfully persuades potential customers to subscribe after they’ve tried it once.
To calculate the trial conversion rate, divide the number of converted users during a period by that of total free trial users in that period.
Ways to improve trial-to-paid conversion rate
- Set start events, like sign-ups, and end events, like purchasing your subscription, in the conversion funnel.
- You then need to identify the friction points on this conversion funnel by seeing where most users drop off.
- Use A/B testing to see what drives more conversion, be it a checklist, a tooltip, or any specific flow, and utilize it for an improved conversion rate.
6. New user growth
The new user growth rate measures the percentage of new users using your product, including the trial users. Therefore, tracking this KPI helps you monitor new user growth during the activation stage and assess the initial impact of your onboarding processes.
You can calculate the new user growth rate by subtracting lost users from new customers, dividing it by total existing customers, and then multiplying the ratio by 100.
Ways to improve new user growth
- Optimize your sign-up flow by using single sign-on (SSO) to let users log in with a single set of credentials, removing any entry barriers.
- Include welcome surveys to collect customer data at the beginning and use this data to personalize their in-app experiences.
7. Product usage
Product usage is the data that represents how your users use the product, which features they engage with most, and how often. So keeping track of this KPI is essential to understanding how customers are using your product.
You can track product usage data (like user activity, session analysis, average events per session, etc.) using feature tagging or event tracking features from tools like Userpilot.
Ways to improve product usage
- Using product data segmentation, you can identify customers with low engagement levels and take proactive actions to bring them back. For example, you can trigger tooltips for disengaged users to drive high-value feature discovery or re-engage them with important features.
- You can analyze power users’ product usage data and identify engagement drivers. Maybe what turned them from regular users to loyal customers was an onboarding checklist of advanced features for their use case. Then you can implement the same one for the rest of your users who share similar characteristics to increase your product’s overall usage.