Does your organization track its CX metrics? If not, you may want to consider starting in order to stay competitive in our ever-changing digital world.
What are KPIs and Why Do They Matter?
KPI stands for a key performance indicator. These metrics allow your organization, leaders, and providers to come up with a strategy as to how well everything is operating as a whole. These metrics take into account customer input and satisfaction, allowing your organization to measure how pleased your customers are with your current business methods.
Net Promoter Scores (NPS)
NPS is a popular customer experience metric that companies use to define their levels of customer experience. It is a quick and easy metric that allows companies to easily track responses made by clients after treatment, office visits, or service is conducted. This is useful in tracking revenue and predicting future gains and losses. Because it allows for open feedback, organizations are able to dive deeper and see areas of improvement in their facility.
Customer Satisfaction Score (CSAT)
The CSAT is one of the most popular metrics used among businesses throughout the world. You’ve likely participated in it yourself. These are the types of surveys you receive after visiting a website to rate your experience on a scale, typically from 1 to 5 or 1 to 10. These metrics can be influenced by the promises made to each client and the actual service that is delivered.
It is imperative to provide your clients with the care and service you have marketed so that your customers are satisfied. If your CSAT is lower than expected, it may be time to re-evaluate the services your organization is providing to make sure you are delivering to the fullest extent.
Customer Effort Score (CES)
This metric calculates the amount of effort required from a customer to receive the service or interaction desired. Typically, the more effort required from a customer, the less satisfied they will be. By reviewing these metrics, your leaders will be able to review areas that need improvement, especially when it comes to the customer experience side. By making the process as easy as possible for your clients, they will be more likely to continue utilizing your processes and organization.
Measuring the churn rate of your customers allows you to see how often they cancel their services, subscriptions, or product purchases. As your organization follows these metrics, you are able to determine certain patterns which can help solve customer experience issues. Minimizing the churn rate involves effectively communicating with your customers and directing them to the most popular features of your organization. By staying on top of your customer’s needs, you will be able to decrease your churn rate.
How Can I Measure These Metrics?
If your organization is looking for help regarding your customer experience, look no further than Credence Global Solutions. Our team of highly qualified experts can guide you in ensuring your business is providing top-notch care to all of your customers. Contact us today to learn more.