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Confirmit ROI Calculator – Definitions and Logic


Confirmit Team

Confirmit Team

Author Bio

Confirmit’s dedicated teams work to deliver world-leading customer experience, Voice of the Employee and Market Research solutions. 


Author Bio

Confirmit ROI Calculator – Enabling Customer Experience professionals to evaluate the benefits of their VoC program by calculating improvements in specific metrics and business outcomes.

A Voice of the Customer (VoC) program can have a measurable financial impact for organizations by enabling improvements in key metrics such as customer churn, customer spend, and cost of service. The Confirmit ROI calculator enables Customer Experience professionals to measure the potential benefits of implementing a VoC program in their organization. A flexible and comprehensive tool that models returns based upon specific business scenario, the ROI calculator evaluates improvements in metrics across five corporate departments, Marketing, Customer Service, Human Resources, Compliance, Finance/IT.

Calculate CX ROI

What Can I Measure With the ROI Calculator?

A Voice of the Customer (VoC) program can have a measurable financial impact on organizations by enabling improvements in key metrics such as customer churn, customer spend, and cost of service. The Confirmit ROI calculator enables Customer Experience professionals to measure the potential benefit of implementing a VoC program in their organization. A flexible and comprehensive tool that models returns based upon specific business scenario, the ROI calculator evaluates improvements in metrics across five corporate departments.

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Marketing

  • Faster Growth
  • Reduced Churn
  • Increased Average Spend
  • Positive Word of Mouth
  • Negative Word of Mouth
  • Lower Cost of Sale

 

Customer Service

  • Lower Cost to Serve
  • Increased Self-Service
  • Fewer Customer Service Complaints

 

Human Resources

  • Reduced Staff Turnover

 

Compliance

  • Lower Risk of Regulatory Fines

 

Finance/IT

  • Software Licenses
  • IT Employees
  • Switching Solutions
  • Consultancy Spend
  • Automate Processes

 

Without a valid business case, backed by financial metrics linked to actual business outcomes, your program is unlikely to get the investment it needs to generate long-term results. The Confirmit ROI calculator can prove to be an invaluable tool in your efforts to build a business case to justify a new Voice of the Customer program, or further investments in the one you currently have in place. 

Now all you need to do is go to the Confirmit ROI Calculator page, and use this document to help with any definitions or logic you might need more information on, then start filling in the blanks. You will have access to a custom document where you'll see the monetary value of improved CX results based upon your specific business data points. You'll gain insights into the benefits of a successful VoC program, and gain a set of concrete ROI numbers for planning purposes. You can then use these results to set priorities and gain consensus among various stakeholders in your organization.

Get an ROI Consultation

We realize that every business case is unique. That's why in addition to the ROI calculator featured here, we also offer a more comprehensive tool to measure the ROI of improving a wide range of CX metrics while working in conjunction with a Confirmit VoC expert.

Calculate the ROI for your CX activities



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