The New ROI: Measuring What Matters
You can’t manage what you don’t measure. But in conversation marketing, what you measure matters even more.
Clicks and impressions might tell you who saw your message — but they say nothing about how people felt, what they needed, or whether your brand made a real connection.
It’s time to move beyond vanity metrics and embrace a new definition of ROI: Return on Interaction.
What’s Wrong with Traditional Marketing Metrics?
| Traditional Metric | The Problem |
|---|---|
| Impressions | Doesn’t reflect engagement or interest |
| Open rate (email) | Doesn’t show depth or next action |
| Bounce rate | Lacks context — why did they leave? |
| Form conversions | Misses the value of partial or indirect intent |
| Lead volume | Prioritises quantity over quality |
In a conversation-driven world, relationships beat reach.
A Better Lens: Return on Interaction
Return on Interaction (ROI 2.0) looks at the value created through two-way engagement — not just exposure.
Key questions to guide your measurement:
- Did the customer feel heard or helped?
- Did they take meaningful action?
- Did this conversation contribute to long-term loyalty or insight?
What to Measure Instead
1. Conversation Quality
How effective and engaging was the interaction?
| Metric | How to Measure |
|---|---|
| Response time | Avg. time to first reply or resolution |
| Completion rate | % of conversations that reach an outcome |
| Sentiment score | Positive/neutral/negative tone detected |
| Escalation rate | % of conversations passed to a human |
2. Customer Impact
How did the interaction affect behaviour, trust, or loyalty?
| Metric | Value Provided |
|---|---|
| CSAT/NPS | Immediate satisfaction or loyalty score |
| Repeat engagement | % of users who return to chat again |
| Time to value (TTV) | How quickly a user gets what they need |
| Issue resolution rate | % of conversations that solve the user's problem |
3. Business Impact
What outcomes did the conversation contribute to?
| Metric | Value to Business |
|---|---|
| Lead-to-qualified conversion | % of chats that lead to quality leads |
| Conversation-to-sale ratio | % of chats that end in a transaction |
| LTV uplift from engaged users | Higher value of users who interacted |
| Cost per resolved conversation | Operational efficiency via automation |
Real-World Example: Monzo Bank
Monzo uses in-app chat to manage customer questions quickly, transparently, and with a strong human tone — even when powered by automation. They measure not just response time, but customer trust, resolution accuracy, and re-engagement rate.
Their takeaway: a helpful conversation today creates a loyal customer tomorrow.
Tools That Help Measure Conversational ROI
| Tool / Platform | Use Case |
|---|---|
| Intercom, Drift | Chat analytics: conversation rate, resolution |
| HubSpot, Salesforce | Attribution: chat-to-lead and lead-to-sale |
| Delighted, AskNicely | CSAT/NPS and customer sentiment surveys |
| Google Analytics, Amplitude | Track assisted conversions and behaviour post-chat |
| ChatGPT / Claude + tagging | Analyse intent, tone, and topic classification |
Combine Qual + Quant
Use a mix of data and dialogue — don’t just look at dashboards. Review real conversations regularly to understand the why behind the numbers.
Moving from Measurement to Insight
Don’t just report — learn.
- Which questions keep coming up?
- Where do people drop off?
- What’s your tone like under pressure?
- Which agents or flows perform best?
Turn every data point into a design decision.
What This Chapter Really Means
The new ROI isn’t about how loud your marketing is — it’s about how useful, human, and effective your conversations are. It’s about measuring relationships, not reach.
“Don’t just count interactions — measure their impact.”
— Jonny Bowker