You already know customer experience (CX) is important: it separates your business from competitors, builds brand awareness, strengthens customer loyalty, affects the bottom line and more. What’s not as clear is understanding the status of your customer experience in order to measure and improve it. Since there’s no such thing as a CX score, you have to rely on a mix of metrics. Here are some of the most common ways companies with mature customer experience strategies measure their CX efforts.
Net Promoter Score
If you need a starting point to spearhead your CX strategy, begin with NPS, which shows a customer’s willingness to recommend your product or service to someone else by rating your company on a scale from 0-10. The score is then calculated by subtracting the Detractors from the Promoters. Customer experience is largely based on managing expectations. Great customer experience occurs when you exceed customer expectations; poor customer experience occurs when you fail to meet customer expectations. Therefore, one of the best ways to measure customer experience is to mine the expectation gap. You can adjust NPS scores to more accurately reflect customer experience by asking, “On a scale of 1-10 how much better (or worse) was your experience with our company compared to what you expected?”
Customer Satisfaction Score (CSAT)
CSAT is measured by asking customers to rate their level of satisfaction with the experience they had with your organization, such as getting an answer from customer support or returning a product. CSAT can help you measure and manage the customer experience over time by providing a baseline measurement of your performance, as well as how your visitors and customers feel about your brand in general.
Average Handling Time (ART) and First Response Time (FRT)
FRT measures how quickly agents provide customer support in response to queries, while AHT shows the average amount of time it takes to solve a query. According to Forrester, 45 percent of US consumers will abandon an online transaction if their questions or concerns are not addressed quickly. What’s more, according to Mckinsey, 75 percent of online customers expect help within 5 minutes. The lesson here is that if customers aren't getting queries resolved the first time they contact you, they won't be satisfied or loyal for long. As mentioned above, customer experience is about managing expectations. Customers expect their issues will be resolved in a timely manner. When they aren’t, customer experience suffers.
Customer Effort Score (CES)
It’s common sense that companies should work to make it as easy as possible for customers to complete tasks such as changing an address or returning a product. By measuring the amount of effort customers have to put to execute a particular task, CES can provide valuable insight into your customer experience. The goal with CES is to remove obstacles for customers. Don’t require them to contact you repeatedly to get an issue resolved, or to switch from one service channel to another, such as calling only to be told they need to visit a website.
Turning Metrics into Action
The above metrics are key to building a strong foundation for your customer experience strategy, but they can’t exist in a vacuum. Simply measuring and storing data will not move the CX needle. Once you begin tracking these metrics, be sure to make them accessible to stakeholders who can then determine actionable ways to improve results. What’s more, strive to use the results to inform business decisions, which places customer experience in the center of your business.
ASK has years of experience defining and implementing customer experience strategies for companies of all sizes. To learn how you can see real results by measuring the things that matter to your business, schedule a free demo today.