Reimagining the new KPI: Customer Experience and Touchless Wellness in shaping Return on Experience (ROX)

Today we are in the space of the “Theatre of Spa and Wellness Experiences!” The emerging and ever selective and informed traveler places the highest value on their health and wellness; wants to have transformative experiences; and wants to be engaged, delighted and inspired – all with megawatt benefits and big take-home value.

All the key trends in the largest hospitality schools, ratings, standards and consumer-led data tells us the same thing: it really IS all about the Experience!

This is where Touchless Wellness has a major role to play and its influence will only grow as the Hospitality and Wellness industry moves into hyperdrive.

The challenge is that we are still working with outdated business models which, primarily work to quantify value – yet the experience is about quality. How do we quantify quality? Or better yet, how do we create KPIs to measure, track and attach a said value that can be translated to currency and ROI in the “Experience Economy?”

From ROI to ROX: Shifting the Metrics – Ingredients for the new KPIs

Shift focus from the Return on Investment (ROI) of physical goods or services to measuring the Return on Experience (ROX).

ROX is calculated as the incremental increase in revenue divided by the cost, with the admission fee potentially added in some models to account for the direct cost of the experience. Think music, snow rooms, saunas, experience loungers, sound baths, new methods of oral hygiene, diagnostics, smart-beds etc. – all curated in individual touchpoints!

Focus on Customer Value and Transformation: Time Well Spent

Unlike services where the outcomes are to be efficient experiences are about "time well spent" - reflecting how customers value their time with the experience provided.

Customer Aspirations:

The new Experience KPIs should track how effectively an experience contributes to a customer's personal transformation and growth, rather than just satisfaction.

Memorable Events means an emotional attachment or connection:

Success is measured by the quality of the experience itself - a memorable event created by a wellness brand.

Leveraging Data for Personalized Experiences:

Connecting data to deliver personalized experiences – the new KPI should therefore reflect the effectiveness of this data utilization.

Reliable and Real-Time Data:

To build the best customer experiences, companies need reliable, real-time information to inform their KPIs and strategies.