Helping retail leaders maximize their return on customer experience investments.
What we do
WisePlum is a user-friendly customer experience insights platform for retailers. It answers one critical question “Where should I invest in the customer experience to increase sales and grow market share?”
No advanced analytics or market research training needed. Within seconds, business leaders can see which specific negative customer experiences, both in-store and online, drive business performance.
For a typical retailer, negative experiences put an average of 16% of their revenue at risk.
Retailers have a blind spot…they don’t know which specific customer problems drive business performance. By knowing which problems cause shoppers to complain more, buy less, or at worst, not buy at all, retailers can better target (or isolate) which areas of the customer experience to invest in to drive sales.
WisePlum identifies these experiences in your business and goes beyond that to uncover how you compare to your competitors too, then, on a weekly basis, provides this information directly to your device of preference in an easy-to-use dashboard.
How is WisePlum different?
At WisePlum, we focus on friction. Customers no longer evaluate your performance solely against category competition, but against all shopping interactions. Retailers that fail to capture and understand the entire customer shopping journey will disappoint customers and miss opportunities to innovate.
WisePlum offers a financially driven way of understanding your customers’ experiences. Quantify the revenue impact of three critical areas of your CX initiatives:
Your brand’s performance with insights at the banner level and store level
Your brand’s performance compared to competitors
Your brand’s performance over time
How is your brand performing? How much revenue is lost due to negative customer experiences?
How do your rank against the competition? Where do market opportunities exist?
What problems do your customer experience? What revenue impact do these have? Which do you fix to increase revenue?
How WisePlum works
WisePlum is based on a continuous stream of brand-targeted surveys matched to customer spend data. There are 4 interconnected components:
1) Identifying damaging experiences
Which specific customer experiences negatively impact revenue?
2) Quantifying financial risk
Just how much revenue is at risk? Go beyond traditional satisfaction assessments to identify the specific ‘damage events’ and quantify their impact on financial performance.
3) Taking action
Identify and implement opportunities for sustainable differentiation. Stay ahead of the curve by identifying and addressing emerging issues.
4) Tracking outcomes weekly
Monitor your performance, implement new initiatives and repeat.
Who is the Verde Group?
A market research consultancy that helps companies measure and manage the cost of customer dissatisfaction, prioritize issues based on ROI and fix them for improved retention and profitability.
NEW RESEARCH STUDY – Understanding the Retail Consumer During a Pandemic
The COVID-19 pandemic has substantially impacted retail, and brands are continuously strategizing on how best to engage with their customers as many shift to online spending. Newly released, The Wharton Baker WisePlum Consumer Loyalty Study finds that consumer disappointment runs deep. Consumers have not been forgiving in their expectations of retailers despite the pandemic, putting consumer loyalty at risk.
This study, conducted in partnership with the Baker Retailing Center at the Wharton School, surveyed a national sample of US consumers over two periods. A total of 5,000 consumers were surveyed in the period February 4th – 23rd, 2020, and, as the world experienced the pandemic, an additional 2,535 consumers were surveyed from May 13th – 20th, 2020.
The survey’s key findings:
Overall loyalty decreased during the pandemic as online shopping increased
Loyal customers, especially loyalty program members, reported higher rates of problems
The economic damage associated with customer problems is higher in pandemic period
4 out of the top 5 problems experienced relate to issues with online shopping
DOWNLOAD THE STUDY NOW
Feature interview with Paula Courtney of WisePlum: Understanding the Canadian Consumer study
In this episode (part one of two) of The Voice of Retail with Michael LeBlanc, hear from customer insight pioneer Paula Courtney, Founder of WisePlum as she shares her ground-breaking research study sponsored by Eric Morris & Google and released by Retail Council of Canada "Understanding the Canadian Consumer". Released in late 2018, the study compiles 5,007 online interviews fielded in Canada in October 2018.
Part 2 of the interview with Paula Courtney on Understanding the Canadian Consumer
Part two of our feature interview with Wiseplum President & CEO Paula Courtney, author of the groundbreaking Understanding the Canadian Consumer 2018 study sponsored by Google and released by RCC, plus an interview with Canadian Retail editor Sean Tarry on the latest issue of Canadian Retailer, and of course Retail This Week top news stories and analysis!
NRF 2020: Retail's Big Show
January 12-14, 2020
New York, New York
Bring the future into focus.
NRF 2020 Vision has the world’s largest retail Expo, filled with futuristic tech that will change the way you do business. WisePlum is proud to be a part of the Start-up Zone. Come see us at booth 7129!
It's time to get wise about your Customer Experience.
Learn more about this new approach to helping you more effectively invest in and prioritize your Customer Experience initiatives.
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Toronto ON Canada M5A 2V1
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