Intro [00:00:11]:
You’re listening to The Revenue Engine with Michael Pacheco, a veteran CMO who has driven over $10,000,000,000 in revenue in the past decade with strategic marketing and customer centric leadership. Join your host as he transforms marketing departments from cost centers into profit centers. Prepare to shift your marketing into high gear and drive unprecedented growth.
Michael Pacheco [00:00:36]:
Do you understand what your customers experience at every touch point with your brand? Let’s dive into why understanding and optimizing the customer journey is so crucial for your business success. Hi. I’m Michael Pacheco, a fractional CMO for health and health adjacent technology companies. Today, I wanna guide you through the concept of the customer journey and how mapping that out and paying attention to it, paying close attention to it can transform your business strategy. The customer journey is simply the complete experience that a customer has with your brand from the first point of contact through post purchase interactions. It includes every touch point along the way where your customer interacts with your business both online and offline. Let’s discuss understanding and optimizing the customer journey and how that is essential. I’ve got 4 items to talk about here.
Michael Pacheco [00:01:32]:
Number 1 is identifying pain points. Journey mapping helps you identify where customers encounter difficulties or friction. It allows you to address and resolve any issues that they see along the way wherever they find difficulties or friction. Number 2, enhancing customer experience. By understanding your customer journey, you can create a more seamless and enjoyable experience leading to higher satisfaction and loyalty. Number 3, improving customer retention. A positive customer journey increases the likelihood significantly of repeat business and long term customer retention. As many of you, likely already know, the cost of keeping a customer is incredibly cheaper than the cost of going out and getting a new one.
Michael Pacheco [00:02:20]:
I don’t know the exact numbers there. I could make something up, but I don’t think I’m gonna do that. It’s a lot cheaper to keep a customer than it is to go out and get a new one. Put it that way. Number 4, optimizing marketing efforts. Journey mapping provides insights into which touch points are most influential, helping you allocate resources more effectively. Pretty straightforward. Let’s go through the steps of what it looks like to create a comprehensive customer journey map.
Michael Pacheco [00:02:46]:
Number 1, define your objective start by clearly defining the goals of your journey mapping process. What is it that you hope to achieve? This could be improving customer satisfaction. This could be increasing retention rates. Could be identifying pain points in the customer journey. Whatever it is, define it and write it down because understanding that and specifying it is going to affect the way that you approach the the process. It’s going to affect the lens through which you see the customer journey and the things that you pay close attention to. So think about that. It it does make a difference.
Michael Pacheco [00:03:24]:
Number 2, identify customer personas, create detail, customer personas that represent your target audience, your ICP, your ideal client profile, or your ideal customer profile. Understanding their demographics, behaviors, needs, goals, all that kind of stuff. We’ve talked about this before. It helps in creating a more accurate picture of your customer or your client and a more relevant customer or client journey map. Number 3, map out customer touch points. So you wanna list out all of the touch points where customers interact with your brand both online and offline. This includes things like your website, social media, customer service, phone calls or emails, in store experiences, signing up for your email list, and downloading a PDF of some kind, right, some kind of lead magnet, things like that. Every one of those is considered a touch point.
Michael Pacheco [00:04:16]:
Advertising be a touch point. Number 4, gather customer feedback. Collect feedback from your customers to understand their experiences at every touch point. For this, you can use surveys, interviews, even analytics to gather insights around that kind of stuff. Number 5, create the journey map. Visualize the customer journey map by mapping out the touch points. So you got the list of touch points, list of customer experiences, map that stuff out. I like to use miro.com, miro.
Michael Pacheco [00:04:44]:
I’m in no way affiliated with them. I get nothing for recommending them. It’s just the product that I like to use. It’s a web it’s a great website that does flowcharting, that sort of thing. Highlight key stages, emotions, pain points, all the stuff that your customers are potentially going to encounter when interacting while interacting with your brand. Number 6, analyze and optimize. Analyze the journey map and identify areas for improvement. Look for patterns, look for pain points, look for opportunities to enhance your customer experience.
Michael Pacheco [00:05:16]:
Implement those changes and monitor the impact.
Midroll [00:05:22]:
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Michael Pacheco [00:05:45]:
started. In conclusion, mapping the customer journey is a powerful tool for understanding and optimizing the experiences that your customers have with your brand. So by defining the customer journey, recognizing its importance, and following the steps that I outlined to create your customer journey map, you can improve customer satisfaction, customer retention, Right? That’s the big one. And overall business success. What I want you to do is reflect on your current approach to customer experiences. I got a few questions for you here. Number 1, are you aware of all the touch points that your customers interact with your brand over time? If you’re not, do that exercise, map those out. List all your touch points where your customers interact with your brand.
Michael Pacheco [00:06:31]:
Question number 2, how well do you understand your customers’ experiences and pain points? How well do you understand those? If you don’t understand them super well, consider doing some customer interviews. Consider doing some surveys. Think about what you can do to better understand pain points and their experiences. Question number 3, final question. What steps can you take to optimize their journey? What can you how can you do better? Right? That’s the whole point of these videos that I create is to help you do better. How can you do better based on the content that you’ve just watched in this video or that you’ve listened to in this podcast depending on how you’re consuming this? Considering these questions, they can help you create a more effective and customer centric, not even marketing strategy, but just business strategy. Right? It’s marketing, but it’s also it’s a business strategy. And shining that spotlight on your customers, on your clients, treating them as the hero and yourself as the guide.
Michael Pacheco [00:07:30]:
Right? That’s story branding. It’s huge. Customers, it’s just the only way to go. If you’re struggling to map out and optimize your customer journey, if you’re not sure about their pain points, if you’re not sure how to interview or survey customers, I’m here to help. Please reach out to me. Let’s chat. It’s completely free. I have nothing to sell you.
Michael Pacheco [00:07:50]:
And my only goal here is to provide you with actionable value that you can apply directly to your business. You can get at me on LinkedIn or by reaching out to me directly on my website, michaelpacheco.c0. If you found this video helpful, please give it a like and let me know in the comments what was valuable for you, what was helpful for you in this video so that I know what kind of content you guys are enjoying, what kind of content works. Don’t forget to subscribe to this if you’re watching it on YouTube. And if you’re listening to this as a podcast, please give us a review on whatever platform it is you’re listening on. All of these things together help us help more businesses and that’s our big goal here. Thank you so much for doing what you do. I am Michael Pacheco.
Michael Pacheco [00:08:32]:
Until next time. Cheers.
Outro [00:08:36]:
You’ve been listening to The Revenue Engine with Michael Pacheco. For inquiries into market leadership, tailored strategies, or personalized consulting, visit michaelpacheco.co.
