3 Customer Experience Metrics That Will Change Your Game
Never underestimate the value of happy customers.
According to Forrester Research, companies that provide a superior customer experience grow faster by a range of metrics than those who don’t, develop greater loyalty among customers and can charge a premium for their products and services. In addition, happy customers are more likely to both buy and recommend a brand’s products and services.
So how can CMOs and customer service executives be sure they’re consistently providing their customers with the best experience? As important, how do they measure it? What’s the best way to gauge customer happiness?
Typically, executives track a handful of key performance indicators such as sales and customer satisfaction. However, those measures alone don’t provide a complete picture of the overall customer experience – or how to address problems.
Use the three metrics below to help round out your view of the customer experience – and up your game in the process:
- First Contact Resolution (FCR). This measures how frequently your organization resolves customer issues on first contact. The concept is simple: If a business regularly addresses problems quickly, overall customer happiness will likely move higher. As Laura Edell Gibbons points out on the iSixSigma blog, businesses that fall short here need tools and processes to empower employees. For example, allowing supervisors to listen in on calls and provide guidance to a representative is one way to provide effective training and immediately improve your FCR results.
- Net Promoter Score (NPS). Because it measures customer loyalty, this widely used metric is a leading indicator. By asking customers how likely they are to recommend a brand to a friend, companies can better understand if they’re meeting customer expectations. When this question is followed up with “why”, the organization gains insight into closing the customer feedback loop and improving the customer experience.
- Employee Engagement. At some point, we’ve all had the unhappy experience of dealing with a lackluster employee, and lowered our opinion of the brand in question as a result. By contrast, interactions with upbeat or empathetic employees can cause a complete turnaround in a customer’s feelings. Employees, in other words, have an outsized impact on the customer experience. By tracking employee engagement, organizations can identify and correct workplace issues before they start to impact the customer experience.
It’s easy for organizations to put surveys in place to measure customer and employee attitudes and use system data to track operational performance. But it’s often harder to take the next step: Act on the data. A whopping 57% of the companies participating in the Temkin Group 2015 State of CX Metrics report said they failed to take action based on what they learned.
Of course, it’s never fun to learn your customers aren’t happy. But knowing that they’re not – and why they’re not – actually gives you a competitive advantage so long as you act on the information. Using these metrics to implement the right kind of training and tools for your frontline employees will result in a more engaged and effective team which will, in turn, raise the bar of your customer’s experience. And that can be a game-changer.
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