Why should you measure your customer experience?
You need to know your customer – inside and out. No customer, no business. It all comes down to your most valuable thing – your customers – and to keep them happy and satisfied, you need to take control of your customer experience.
Several studies suggest a direct link between customer experience and improved brand loyalty and retention rates. Data shows that offering a great customer experience can make your customers up to five times more likely to recommend your brand, and customers with a positive experience can be 54% more likely to make a second purchase. In fact, try to mention any type of business that doesn’t benefit from a great customer experience.
Ask yourself, do you know your customers experience? Do you know how satisfied your customers are in their interactions with your company? Or how much effort is required to engage with your company in any given touchpoint? If not, it’s time to start measuring your customer experience!
So, where do you start?
CJM (customer journey mapping) is a good place to start in order to understand your customers’ end to end interaction with your business. This should be the base when aiming to understand your customers’ experience and a good starting point to be able to deliver a good one.
In addition, you need to measure it continuously starting with an initial baseline and follow-up with regular measurements. Here, you want your KPI’s to make you aware of whether or not you deliver a good customer experience, while also support development (i.e. be highly actionable) and demonstrate how it is directly correlated to business value over time.
This article poses as a guide to which KPI’s are suitable for you and your business to use to measure the experience of your customers. We truly believe in simplicity – let’s get started!
Our recommendation: Keep it simple using two measurements
Measuring customer experience there is a myriad of KPI’s that can be adopted and implemented in your business. In order to keep it simple and ensure value realization, we recommend that you use two different measurements, one primary measure and one complementary:
Both the recommended measurements are based on the notion of asking your customers how they experience the interactions with your company. The first one asking how satisfied customers are with your products, services or interaction with your company, and the second one asking how much effort is required when engaging with your business.
We believe in the simplicity of asking your customers in a straightforward way. A few yet effective questions in a survey is enough. The critical factor is to read the answers carefully and be prepared to take action.
In addition, don’t forget to: