How To Measure CX: Determining The Success of Your Customer Experience

I had recently lost my phone in a cab. Although I had no hopes of finding it anytime soon (statistically it’s more probable that you would not find your lost mobile phone), I called the customer service of the cab company. Not only did the customer service executive help me get the information about the cab, but he also connected me to my cab driver and I got my phone back. I was grateful that I had my phone back and ever since that day, I have been a loyal customer of the particular cab service.

One positive customer experience was good enough for me to keep me hooked to the brand. But how can the brands measure customer experiences to formulate strategies based on insights they get from customers?

Customer Experience is everywhere, ranging from your local supermarket to visiting a private hospital or bank. But brands or businesses can sometimes find it hard to measure the customer experience to determine its success. But with this blog, we aim to solve this quest of brands by suggesting ways you can also measure the CX of your brand.

Conduct Customer Surveys

To get customer insights and their feedbacks, brands should focus on conducting customer surveys. This helps businesses talk to their customers.

Send out customer surveys during various touchpoints of the customer journey to get their feedback about the product or service being offered. Not every survey should be focused on NPS. You can use other questions to measure other CX KPIs such as Customer Satisfaction Score (CSAT) or Customer Efforts Score (CES).

Apart from measuring KPIs, you can also share surveys with your customer to get their feedback and suggestions for the product.

Use Net Promoter Score to Measure Customer Experience

If we talk of measuring customer experience, one KPI for customer experience would be common throughout and that is Net Promoter Score (NPS). Net Promoter Score helps you identify who are your promoters and customers who are looking to leave your brand soon, referred to as detractors.

With NPS, you simply ask your customer about their willingness to promote your brand by asking a question such as,” How likely are you to recommend our product to your friends and family?”.

The ones who rate 0-6 are detractors and would leave your brand soon. They are the ones you need to focus on. The ones who rate 7-8 are passives and they are neither loyal nor disloyal. The ones who rate 9-10 are your promoters and would recommend your product to other people.

Once the survey is filled and over, you would be able to get your Net Promoter Score, telling you the % of your customers who are your promoter. You can read more about NPS in our other blog by clicking here.

Customer Satisfaction Score Is a Good Indicator To Measure CX

One of the most simple and direct ways to collect customer feedback and measure customer experience is by measuring Customer Satisfaction Scores.

With CSAT, you simply ask your customers how satisfied are they with the product or service being offered. CSAT score is the average score of all the responses you have received. You can send a CSAT survey after purchase or interaction with your customer.

Customer Satisfaction is one of the best ways to get immediate feedback about the experience of the customer. A low score indicates that the majority of your customers are not having a good experience with your brand and you can work on improving it.

Leverage Customer Journey Analytics To Better Analyze Your CX

Your customer journey is an insight goldmine. However, before you proceed to use analytics to leverage insights from your customer journey, you need to understand the basics of customer journey mapping. If you have not already created a customer journey map, now is the time to start.

Your customer journey holds the data of customer interaction across various touchpoints. The map shows you the process a customer has to go through while also highlighting the touchpoints which witnessed the biggest drop in customer proceeding to the next step.

You can start with assessing your social media, ads, events, feedback, reviews and website, loyalty programs, Emails, etc. You can create a table where all the metrics are mentioned with the data to analyze the touchpoints with relevant data.

Integrate Ticket with Your CX Platform & Analyze The Ticket Trends

A complete CX includes raising and solving customers’ issues using tickets. Check if your CX platform offers you to raise tickets in case a customer raises an issue in his/her customer experience.

Your ticket trend is another metric that can help you measure your customer experience. Check if the trends indicate a recurring issue that is yet to be solved? You can solve the issue to fix the gap in your customer experience.

Apart from the issues raised, also analyze the other support tickets to analyze the amount of time it takes for the customer team to connect with the customer. The SLA and resolution time metric can help you improve your customer experience.

With Survey2Connect, you can track and take action in real-time on all your tickets generated with feedback. Visit www.survey2connect.com to know more.

Measure Customer Churn to Calculate Your Customer Experience

Churn rate refers to the percentage of customers who don’t renew their subscription or make another purchase with you. Churn rate is a good indicator of your customer experience program.

A low churn rate indicates that most of your customers are happy with your product or service and would like to continue and renew the purchase. However, a zero-churn rate is impossible and churn would happen but brands need to know the reason why churn is happening so that they can work on a fix.

To calculate your churn rate, first, you need to have a time period for reference. Let’s say you have selected one year. Now you need to have the data for the number of customers you have acquired during this period and the number of customers who have churned.

Now divide the number of customers who have churned by the total number of customers you have acquired in this period. Multiply it by 100% and you will have your churn rate.

Customer Experience is subjective and while measuring customer loyalty and experience can appear difficult, these KPIs can help you measure CX efficiently. Also, you can only improve your customer experience once you start to measure CX.

If you are looking for a platform that allows you to create Customer Experience surveys in a minute, Survey2Connect is your savior. Now design DIY surveys in minutes and send them to your customers using multiple channels and analyze the results in real-time. To know more, visit www.survey2connect.com