Ways To Measure the Pace of the Customer Journey

Many firms invest a lot of time, money and efforts in marketing to customers using different channels, stages and even introduce various ways to ‘measure their influence on customers.’ But the question is, have they done it rightly? What is the customer experience like through the funnel and how can it be made better?

An Insight Into Customer Journey

It is essential for marketers to understand the customer journey and this can be done through 3 main aspects:

1. tracking sales cycles
2. average speed of stage-to-stage transitions
3. These are all indicators that content, events and other marketing touchpoints are driving prospects through the funnel faster.

These are the factors that lead to the planning of resources well. And this through this blog we have tried to convey how to approach and use customer journey data, using velocity metrics.

As A Go-Market Performance Indicator

Incorporating marketing attribution organizes each touchpoint by setting a date, including touchpoints where there is a stage transition. Through this activity, the average number of days the speed of the change was high can be determined. Velocity data can be used in several other ways too. For example, beginning from a high level – if you’re a marketing leader, you can use it to understand performance across different market segments and stages and can also discover the customer journey in more detail, hence, knowing what to expect in future (see graph above).

Tracking Velocity of the Customer Journey
As there is higher number of touchpoints or you increase your marketing efforts, resources in a sale; the velocity will change over time, improving growth prospects.

To measure this, you can create a time series chart (as shown above). The X-axis shows the month of the year and the average number of days between a stage transitions are shown on the Y-axis. The lines indicate what happens on each step and display the average number of days until a change to the next phase.

Overall, this method a great way to understand the customer journey and set goals around these touchpoints analyzed, which will help to improve on, e.g., shortening the route.

Making groups

Measuring the customer journey through velocity reporting is a great way to start tracking and improving the impact of marketing. Rather than just contributing to the process of sales closing faster; marketers can also select groups of prospects who were included in the campaign, attended an even, by persona or any other criteria.