Conversion Rules
- Ben Clark
The Opportunity Matrix clearly shows the close CX interrelationships between Rules, Initiatives and Business Goals.
Although it is pivotal for the Opportunity Matrix to be able to demonstrate gaps in CX provision, we need to go deeper and measure the success of the Rules, Initiatives and Business Goals.
A business initiative is an brands way of setting focus on how something will be achieved. It is usually a description of the specific methodology the brand wants to take and how that will meet the Business Goals.
In essence the question the Initiative is answering is “What specifically do we do to meet the Business Goal?”
The answer depends on the Business Goal but could be:
Improve relevance of content
Improve next best action
Improve online complaints process etc
Each of the Initiatives are focusing on a specific element to improve the Business Goal. We need to measure the success of each one by Identifying and assigning one or more Conversion Rules to the Initiative. Conversion Rules might be:
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Complaints registered
Website sales
Order value
Order Size
Specific content read
For example, the very end of the sales process may be the conversion rule for the increase cross sell initiative as well as the increase order size initiative, both sit under the increase revenue Business Goal.
Mapping a rule as a conversion for an initiative allows us to understand whether the rules showing within the Opportunity Matrix are having a positive impact.
You can have multiple conversion rules for a single initiative and a conversion rule can be mapped to more than one initiative.
Assigning Conversion Rules
To assign a Conversion Rule to the Initiative click on the initiative name under the Business Goal where you want to assign the Rule.
Use the Rule Type selection to filter for Conversion Rules. You can now search or scroll to find the Conversion Rule or Rules for this Initiative.
Click on the checkbox to the right of each Rule and click on save.
This mapping does not show within the Opportunity Matrix, which is focused on Influencer Rules, but the information is now available when we start to process customer generated events. We know exactly what success is for each Initiative, Rule and Business Goal.