Frequently Asked Questions
About the product
What does Worthix do?
Our mission is to help companies understand and prioritize what their customers value the most, to make better business decisions. We use AI to enhance unbiased and customer-led conversations, then spotlight what customers really value to enable you to test strategies safely before making big moves.
How do we do it?
Worthix uses the Customer Value Alignment Cycle as a three-step methodology that will enable you to understand and prioritize what customers value.
- Track Value: Use our AI to hold two-minute in-depth conversations at scale with your customers.
- Find Actionability: Blend your customer’s feedback with the metadata you have of them to find actionable insights in each customer segment.
- Co-create Innovations: Invite your customers to co-design the solutions to their pain points and test your strategies safely before making big moves.
We use a structured framework centered on six key drivers of customer decision-making: Product, Price, Relationship, Social Proof, Brand Identification, and Competition. This enables customers to guide the conversation, as we assess and prioritize their responses based on their potential impact or influence on their decisions.
How are results or findings presented?
Through a dashboard, results will be shown in a SWOT analysis that reflects internal and external factors that are influencing your customer’s perception of value. Inside the internal factors, there are tangible and intangible aspects. The tangible aspects correspond to the 5 Ps in the Marketing Mix: Price, Product, Promotion, Place, and People. The intangible aspects include Social Proof and Brand Identification. Finally, you can see how your competitors are affecting your customer’s perception of value as the external factors influencing their decision-making process.
Who are Worthix’s clients?
Our clients are medium to large companies; market leaders within industries such as retail, finance & banking, automotive and more. They have thousands of employees and millions of customers, with whom they hold many transactions and have direct contact. They are customer-centric, innovative, and concerned about remaining relevant in the market.
How much time does it need to deploy Worthix?
Setting up Worthix can be a faster process than other market research studies because questionnaire design is not required. Typically, it takes 6 to 8 weeks to define the sample and moment of the journey, select the keywording, design the trigger or invitation, have an internal test, soft launch, and finally launch Worthix.
What is the minimum sample Worthix needs to work?
We can effectively prioritize results with just 50 or more responses. This is possible because the responses are natural and customer-led, making them more actionable even with a relatively low threshold. It’s essential to note that this minimum is designed for precise demographic filtering, not for comprehensive tracking. For instance, in a scenario involving a large retailer, even with tens of thousands of responses, we can filter down to specific stores and the demographics of their shoppers, which may result in a sample of just over 50 responses.
When is the right time to deploy Worthix?
Worthix is ideally deployed immediately after any customer interaction. This timing captures a richer, more detailed description from the customer, as they are closer to the experience. While it’s possible to use Worthix relationally, such as every 3 or 6 months, to capture a broader company perspective, the deepest insights are gained by triggering a conversation shortly after specific customer interactions with your business.
How do you deploy Worthix?
We collaborate closely with our clients to assess and determine the most effective deployment method for their specific needs to achieve optimal results, but it’s possible to do this by email, SMS, QR codes, push notifications, and more.
What are the questions Worthix will ask the customers?
Our questions have been meticulously crafted to capture the drivers of customer value for a variety of markets and products, which is why the 6 drivers and how each question is framed must remain consistent to ensure the desired outcome.
Worth: Is buying from ACME worth it?
- Quality: How do you rate the quality of ACME?
- Relationship: How does ACME treat its customers?
- Brand Identification: How much do you identify with the ACME brand?
- Social Proof: In your opinion, how much would your friends and family like to buy from ACME?
- Relative Price: How do you rate the prices of ACME when compared with the prices of competitors?
- Competition: In general, how would you rate ACME when compared to the competition?
How does Worthix integrate with other platforms?
You can integrate Worthix with Power BI and Tableau to read results in those tools if you are more familiar with them. You can also download and export the entire database with responses for you to analyze and report as more convenient for you.
Where do you host all the information?
We work with Microsoft Azure to host information in their cloud.
What makes Worthix different from any other CX or VOC tool?
Companies deliver many experiences to their clients every day, but some of these are unperceived and others are meaningless. What drives customer’s decision of loyalty and expenditure is their perception of value. Worthix is a platform that helps companies prioritize what their customers value the most and make better business decisions.
This is what makes us different from other tools:
- Actionability: Know where to focus to have the best results possible.
- Unbiased customer-led insights
- Continuity: Constant tracking, historically comparable.
- Efficiency: less time, less money, less effort.
What makes Worthix different from any other KPI or Metric (NPS, CSAT)?
Customer value comes before satisfaction and recommendation and is a metric that can better predict customer’s decisions regarding expenditure and loyalty. With some history measuring your Worth Index, you find correlations between this metric and other business metrics that truly drive business impact, such as revenue and churn.
What is the difference between Worthix and NPS or CSAT?
It is not the customer’s recommendation (NPS) or satisfaction (CSAT) that can predict customers’ expenditure and loyalty, but their perception of value that will ultimately drive their decisions. To truly satisfy your customer, you must understand what.
How can Worthix help us grow our business?
By understanding what your customers value the most and delivering on it, you can make better decisions and ultimately drive growth for your business.
How can Worthix help us attract new clients?
Worthix can be deployed through panels to study what your competition’s customers value the most in them. This way, your enterprise can have a better understanding of the value its competitors are delivering, and you are not, to also gain new clients.
About Customer Value
What is Customer Value?
Customer value is the assessment of tradeoffs between cost, benefits, and market alternatives, that make it worth buying and being loyal. By using Worthix you can bridge the gap between what your company offers and what your customers value.
What is the Customer Value Alignment Cycle?
In a three-step cycle, you can maximize customer value.
- Track Value: You choose at which stage of their journey your customer will receive a link for a 2-minute conversation. You can access the responses after 24 hours and begin tracking changes in perception of value over time.
- Find Actionability: Cross Worthix’s findings with your company’s customer data (demographics, purchase details etc.) in order to pinpoint the best opportunities for you to act where you are most likely to succeed and have an impact.
- Co-create Innovation: Invite your customers to co-create solutions with you by asking them follow-up questions when they mention a topic of interest. This allows you to know the best solution to implement before you invest money and other resources.