We naturally just assume that managers and CX professionals have caught on to the metrics they should be following… but has anyone actually asked?
One of the hardest things that any professional has to do is gain experience in an industry to gain any knowledge of what to look for and how to be successful. That process is often a painful one as we are trying to rapidly understand the emerging markets at hand. Today, I wanted to discuss the basics and go back to what got us all here, being successful at the metrics that matter.
As a leader of a Customer Experience team or someone in a customer experience space, there are a number of metrics you should be tracking in order to measure the success of your CX initiatives and make data-driven decisions about how to improve the customer experience. Here are some common metrics that are useful for tracking CX success:
- Net Promoter Score (NPS): This metric measures customer loyalty by asking customers how likely they are to recommend your product or service to others. NPS provides a single score that summarizes customer satisfaction and loyalty and can be used as an indicator of future growth.
- Customer Satisfaction (CSAT): This metric measures customer satisfaction with a specific interaction or experience. CSAT scores are typically collected through customer surveys and are used to assess the quality of customer service and support.
- Customer Effort Score (CES): This metric measures the amount of effort a customer had to put in to resolve a problem or complete a task. CES is a good indicator of the ease of doing business with your organization and can be used to identify areas for improvement in the customer experience.
- First Contact Resolution (FCR): This metric measures the percentage of customer inquiries that are resolved on the first contact. FCR is a good indicator of the efficiency and effectiveness of your customer service and support operations.
- Customer Churn: This metric measures the rate at which customers are leaving your organization and switching to a competitor. Customer churn is an important indicator of customer satisfaction and loyalty and can be used to identify areas of the customer journey that may be causing customers to leave.
- Average Handle Time (AHT): This metric measures the average amount of time it takes for a customer service representative to handle a customer inquiry. AHT is a good indicator of the efficiency and effectiveness of your customer service and support operations.
- Customer Lifetime Value (CLV): This metric measures the total value a customer is expected to generate for your organization over their lifetime. CLV is an important indicator of customer loyalty and can be used to identify customers who are most valuable to your organization.
- Customer Feedback: This metric measures customer feedback in the form of comments and ratings provided through surveys, customer service interactions, and social media. Customer feedback is a valuable source of information for improving the customer experience and can be used to identify areas of the customer journey that may be causing friction.
It’s important to note that these metrics should not be viewed in isolation, but rather as part of a broader CX measurement framework that takes into account the customer journey and the goals of your organization. By tracking a combination of these metrics, you can get a comprehensive view of the customer experience and identify areas for improvement.
There you have it… The true 8 identifiers of what you should normally be looking for as a Customer Experience professional. My personal favorite is the CES… There are so many takeaways when understanding the true customer journey and the Customer Effort Score gets as close as you can possibly get in understanding that.
