One of my previous articles is titled 4 Reasons to Start Journey Mapping Today and one of the 4 points dealt with the intoxicating results Customer Journey Mapping (CJM) can bring. In this article, I want to unpack that point further. What kind of results can you expect from your first, second, and third CJM applications?
From a revenue perspective, the results will obviously vary according to each application so it is difficult to provide an average dollar figure that you can expect to see from applying CJM. Having said that though, I’ve seen it bring millions of dollars in revenue growth within just a few months so don’t underestimate its potential for drastic spikes in revenue.
The amount of revenue you will see from CJM will vary but I can get specific about average percentages of growth that you can expect to see. I ran some numbers on the average growth that CJM has brought to the industries and divisions I’ve applied it in over the last 20 years and I was shocked by the consistency.
Whether it was a small $10,000 project or a large $35MM campaign, the percentage of growth was consistent. I’ve broken it out by each progressive application.
- 1st CJM application: immediate increase of 3 – 10 times the historic average
- 2nd CJM application: increase of 3-5 times the new baseline achieved in the 1st application
- 3rd and future CJM applications: exponential growth that is off the charts
To help quantify this further, let’s plug in some hypothetical numbers.
Imagine that your original average is 1,000 successful customer engagements per month with a particular touchpoint. After the first CJM application, that could grow to 3,000 – 10,000 engagements within the first month.
Take what you learned from the first application and optimize it for the second application and you can reach 3-5 times what you reached after the first application – that’s 9,000 – 50,000 successful engagements!
It gets a little more difficult to quantify the results after the third application because your original averages (and even industry averages) will be irrelevant as you raise the bar and set new records.
Industry averages are helpful to consider when setting goals for your first CJM application but you will see by the 2nd or 3rd application that industry averages are irrelevant and shouldn’t inform your goals going forward. You can blow past the low open rates, click through rates, and conversion rates everyone else in your industry is experiencing. Soon, you’ll be raising the bar beyond anyone’s expectation.
After 6 months of applying CJM, your results will be so extreme, you will look back at your first attempt with a bit of embarrassment, even though it brought 10 times the results you historically had.
This is the point at which others in your company start paying attention to what you’re doing. Word will spread, headhunters may even start calling, and you’ll find that, not only have you improved your customer’s experiences, your own professional growth opportunities are improving too.
Why does CJM work so well? That’s a subject for another article but here are three reasons why it is so successful:
- CJM improves customer experiences. A good customer experience is rare – shocking even – and people respond well to it and come back for more
- CJM identifies gaps – more like gaping holes – in the customer journey that, when filled, can instantly increase opportunities
- The process of setting measurable goals and monitoring the results in real time, gives valuable insight that is rarely seen. You might be surprised how many businesses are just throwing money at the wall without a second look. Even many large corporations whose brands you are familiar with aren’t analyzing the journey as they could be.
If you’ve been using Customer Journey Mapping for a while, please leave a comment to share some of your CJM examples of exciting results.