Customer experience is integral for any business – and it’s only getting more important from here on out. So, what are you doing to monitor your customer experience?
If your answer to the question was ‘nothing,’ then it’s time you get started. Here are some of the most critical customer experience metrics to keep track of for any company looking to remain relevant in today’s digital era.
But first.
What is a Customer Experience Metric?
A customer experience KPI, or key performance indicator for customer experience, is crucial data that allows you to monitor the average customer’s experience while interacting with a product or service. Customer loyalty data allow businesses to tailor their products and services as per the user’s needs and preferences and thereby, increasing brand engagement.
Net Promoter Score or NPS
This is one of the most common KPIs examples in customer service and measures the readiness of your customers to refer your company to a family member or friend and helps you assess where you stand with your customers.
To calculate your organization’s NPS, you simply need to subtract the percentage of detractors from the percentage of promoters. To begin, you need to ask your customers how likely they are to refer your brand to someone else. Anyone who rates your company between 0-6 is considered a detractor, whereas anyone who rates a 9 or a 10 is considered a promoter. When considering an alternative to Qualtrics, various other tools can also help you effectively measure and analyze NPS.
Customer Satisfaction Score or CSAT
Another metric that measures customer experience is the CSAT, which is measured by the interaction type. It’s one of the most simple and convenient metrics to implement and helps you gather sufficient feedback within a short span. While this metric has several different forms and scales, the most common is a rating out of 5.
Customer Health Score or CHS
This customer experience KPI is great if you want to assess whether or not your customer will stick around in the long run. This metric observes customer behaviors and interactions with your brand over time and is influenced by different factors, including:
- Product Type
- Product usage span
- Money invested in your brand
- Number of interactions with your customer support team
Average Resolution Time
Another KPI is the average resolution time, which refers to the average time it takes for a customer care professional from your team to address a customer’s issue. This metric is excellent for assessing customer satisfaction and reflecting your customer team’s efficiency.
Bottomline
If you’re wondering which of these metrics is especially important or whether you should be measuring all these metrics, the answer is no.
In the business industry, a one-size-fits-all approach is bound to fail. This is why you need to pick and choose only the most relevant measures. Adding complexity to your metrics doesn’t always guarantee added value.
So, regardless of what metric you use, always ensure that it’s one that predicts the outcomes of what you’re trying to promote.
