I attended Medallia’s annual conference for the first time and was impressed with the quality of both the keynotes and the breakouts. While I captured many pages of notes, four findings really stuck out that I want to share:
- There is no one right metric. Despite having NPS inventor Fred Reichheld speak the first day, participants used a variety of measurements to track their CX program. While there were certainly NPS fans, I was intrigued by other measurement systems. Bank of America didn’t share their question but did share that they only report on the % of 9s and 10s. Scotia Bank uses a multi-tiered sentiment system, while the VA uses Effectiveness, Efficiency, and Emotion (from Forrester’s model), but also adds “Trust,” which is their most important metric.
- Measurement isn’t restricted to metrics. Volvo Trucking discussed how they incorporate warnings from their trucks’ sensors into their programs, Bank of America incorporates product additions and subtractions, and others included calls to the call center and other business metrics that provided color to the measurement. As one breakout leader shared, “A 3 [in a 5-point scale] can mean everything’s fine, or that there’s high risk. So we bring in behavioral data to provide more meaning.”
- ROI can be tracked. We’ve found many CX programs shy away from tying to business metrics. Which is a huge mistake, because that’s what your cross-functional partners care about. The leaders find business problems that they can solve through CX, whether that’s client attrition, dropping of products, client attrition, calls to the call center or even stock price, it is possible (and should be mandatory) to tie your work to what the business cares about.
- Frontline employees are starting to be incorporated. I’ve been wondering about this. CX fans have seen Bruce Temkin move from talking about CX to EX. In talks with attendees at the CXPA Insight Exchange, very few had a mandate to focus on the employee experience. But the leading brands who presented (and were likely hand-selected by Medallia) spoke elegantly about how they are engaging their front lines in the customer experience, sharing customer scores with them, as well as expanding the measurement tool to include employee engagement.
The first item – that there’s no one measure – really isn’t a surprise to me. But it does seem to shock many that there’s no one right way to do it. And while some brands have incorporated business measurements into their metrics program and some others track ROI, it’s still pretty rare. But the front-line employee engagement is the most powerful. There have been reports for years that employee engagement predicts customer engagement – the tools are finally there for us to do it right.