I recently starting using a nutrition and fitness app and I am amazed by how much data and information it captures, computes and shares with me. I have all the answers to my fitness journey at my fingertips. I’m gonna be in tip top shape in no time.
As I was reviewing all of this data, and it occurred to me that I need to figure out where to start because I can’t track it all, I’ll lose my mind. Should it be calorie counting, water consumption, macros, percentage of carbs and fat, increasing my water intake, creating activity goals? What do I want these metrics to be? What are realistic goals for me?
After several minutes of reading tabs, swiping through data I started laughing because I have the same problem when thinking about Customer Experience Metrics. I want to measure and “fix” it all, NPS, customer reviews, referral rates, resign rates, client retention, employee satisfaction. I want the customer experience to be in tip top shape in no time!
We have the ability to capture and measure so many aspects of our customer, client and patient’s experience. But this doesn’t mean we need to measure it all. It can be overwhelming and possibly much harder to move the needle on any of the CX Metrics if we can’t prioritize and be razor sharp on what we want to improve. Here are some tips on what metric might be good for your organization depending on your situation.
If you are looking to predict growth: NPS (Net Promotor Score)
NPS is a great way to see how your business will be growing in the near future, it gives a clear picture of who is promoting and who is detracting from your brand. Even with high promotor scores, subtracting the detractor scores gives a clear picture of where your organization may have some vulnerabilities. To get more from NPS ensure you are closing the feedback loop to get more detailed information from the customer who completed your survey.
If you have limited marketing resources: Referral Rate
While it can be tedious to capture and track this information, referral rate is a great way to see how your business is spreading through positive word of mouth. And the best part of word of mouth marketing: it’s FREE.
Your brand has a high purchase frequency: Customer Retention
Are you selling or offering a highly purchased service or product. Is it disposable so customers are looking to refill it or replace it often? It is far more costly to attract new customers when you can increase or even just maintain sales from your existing ones.
You’re experiencing high employee turnover: Employee Satisfaction
Employees are more motivated to stay with their employer if they are able to serve and help customers without too many boundaries or policies in place by their manager. Fewer customer escalations and more autonomy to make decisions on behalf of the customer will lead to higher employee satisfaction and lower the costly turnover of employees.
Of course, you can measure all of these and there are several more to choose from, but if you want to prioritize and communicate results in a strong way, start off with one focus or KPI. Having a realistic goal or expectation of what you want the metric to be is crucial. Ensure your employees have a strong understanding of what the KPI or metric is showing. NPS for example can be confusing. If they don’t understand the metric or how it impacts your greater business they won’t have buy-in to make a difference.
As you develop those results, add another one to it. Results should be communicated consistently with your teams so they can understand their performance and the impact they are having on your customer. Most importantly, be sure to celebrate your victories and highlight any employees who are directly responsible for the success.