3 key CX metrics you should know about
3 key CX metrics you should know about
You are beginning to define a customer experience feedback mechanism for your business. Congratulations! You have taken the first step to understand the journey of your customer when they interact with your business. Now how do you measure progress? Measure the experience with these 3 key CX metrics you should know about.
Customer experience metrics are KPIs that your business follows in order to understand areas that you want to focus on so you can tailor your offering to the customer. There are Customer Experience metrics that you should know about.
The most commonly used CX metric is of course the Net Promoter Score (NPS)® which talks about how likely a customer is to recommend your business to a friend or family member. Apart from this, there are two other metrics that are worth following: Customer Satisfaction (CSAT) and Customer Effort Score (CES).
1. Net Promoter Score (NPS)®
The Net Promoter Score (NPS)® measures the loyalty of your customer to your business over time. It poses a simple question to your customer: would you recommend a brand/business to a friend or family member?
The scoring is done from 0 to 10, where 0 represents unlikely to recommend, and 10 represents highly likely to recommend.
A score of 0-6 are detractors to who you have to pay special attention to understand their grievance.
7-8 are neutrals or passives and it’s a good idea to reach out to them to understand where you could help them.
9-10 are promoters and your biggest supporters.
NPS® is a metric & feedback mechanism which is easy-to-understand and deploy. It gives you a big picture of customer loyalty and actionable tips too.
The biggest advantage of NPS® is that it’s an industry-wide accepted metric, so it’s easy to compare your score to existing benchmarks.
The Ultimate Guide to the Net Promoter Score® consolidates everything you need to know about the Net Promoter Score/Net Promoter System® on a single platform.
2. Customer Satisfaction (CSAT)
Customer Satisfaction (CSAT) is another key CX metric to help you understand how satisfied your customer was after interacting with any touchpoint in the customer journey. For example, a customer wanting to open a bank account or take a loan, could have multiple different touchpoints in their customer journey, i.e. a telephonic interaction or an in-branch experience.
After every touchpoint, it’s a good idea to ask your customer if they were satisfied with the service provided. The scores are usually on a scale of 1 to 5 – with 1 being very unsatisfied, and 5 being very satisfied.
It’s a simple, fast, and effective CX metric. It helps you understand where the efficiencies and inefficiencies of all your departments lie, so you can take necessary corrective measures – from training your frontline employees to simplifying processes.
3. Customer Effort Score (CES)
Customer Effort Score (CES) measures how difficult or easy it is for a customer to reach you and get the help they need. It’s a new metric when compared to CSAT and NPS®.
It asks the question: how easy was it to solve your problem today?
To understand the customer effort score, pay attention to both the average score and the distribution score. While the average score will help to see if your processes are easy or difficult, the distribution will tell you where you need to pay attention.
The above key CX metrics are easy to understand and provide actionable tips for businesses for better results.
Got Questions? Connect with one of our experts and get a detailed understanding of which metric best fits your business use case.
