Metrics & ROI

CX Metrics That Show ROI

Show the ROI of your CX and customer journey improvements with measurements and metrics that monitor and reflect each step of the journey, and quantify your customer’s value. Identify financial and operational KPIs to build a measurement plan, and create a journey scorecard to show the organization – from the front line to executives – that investing in customer experience yields tangible business results. 

Six Ways Journey Mapping Can Drive ROI

When doing customer journey mapping, it’s critical to start by identifying a business problem – one that you can solve through learning more about customer needs. This is the first question of our Five-Question Framework. Carefully choosing which problem to attack helps you avoid one of the leading reasons most journey mapping initiatives fail to drive action: they try to address every problem, and end up solving none.

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Make the Most of Your CX Toys – er, Tools

I remember the joy of getting a new Lego set as a kid, and I see the same joy in my kids now, when they do. It’s hard to contain the temptation to rip the box open, dump the pieces out, and start building. Inevitably, I’d end up with something that kinda sorta looked like what was on the cover of the box, and always, a few ‘extra’ pieces left over.

The same temptation exists with new CX toys.

You get a voice of the customer (VoC) platform like Qualtrics and pump out a survey, because you can and it’s so easy! You buy a state-of-the-art journey orchestration engine (think Usermind), build a journey, and get creative with some actions! In both cases, more likely than not, you end up with something a little ugly and not very useful. Read more

How Hard is it to Be Your Customer Book Cover

Develop a Killer Metric to Drive CX Action

How Hard Is It to Be Your Customer Journey Mapping BookAs our book gains traction, readers tell us they appreciate our focus on starting journey mapping by targeting an identified business problem and using this to drive customer-focused change.

We interviewed dozens of CX leaders on how they did this, including Mark Smith, formerly of Element Fleet Management Corporation. Mark spoke on multiple topics, but my favorite was the need to develop a Killer Metric.

The Killer Metric isn’t NPS, Trust, or Customer Satisfaction. It’s one business KPI (Key Performance Indicator) that you use to rally the team to focus on meaningful change. He discussed how Amazon uses contacts per order – the more people call or chat, the worse the experience (in Amazon’s world – notice that Zappos, owned by Amazon, has a very different philosophy). Delta uses canceled flights, which has the biggest impacts on their customers. Read more

Ten B2B KPIs to Track, Starting Now (none are NPS) – Business KPIs

Measuring Customer Experience’s (CX) business impact is hard. It’s one of the biggest challenges in passing the CCXP exam. One reason is that CX pros are very customer-focused; we’re confident that if we just focus on customer needs, the ROI will take care of itself. Unfortunately, our business partners aren’t always so confident.

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Business and Customer Experience Metrics

If All Customers are Important, You have a Bad B2B Customer Experience

“When all customers are important…none will be.” – Syndrome from The Incredibles (slightly paraphrased)

Are all customers worth the same to your business? No! But odds are, your CX program doesn’t recognize this.

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Your Quest for Survey Data May Be Hurting Your Company

One thing we CX-ers have in common: we love our metrics. Go to any CX conference, and the room that’s filled to overflowing is probably talking about metrics.

Metrics are comfortable for us. Whether we’re talking Net Promoter Score, Customer Effort Score, or good old customer satisfaction, survey metrics give us something to share with the business. Even better, in a role that is so focused on intangibles, we have one tangible thing we can point to.

Of course, to get these metrics we need surveys. Lots of surveys. Long relationship surveys, short (but frequent) transactional surveys, and medium-length touchpoint surveys. More data to analyze and report. We need to feed the beast.

I recently ran across some research that suggests that the continuing search for these metrics may actually be hurting your company. Read more

What is the Most Important Contact Center Metric?

metrics2I presented at the ICMI CC Expo last month in Long Beach. It’s always a great conference, and I look forward to it each year.

In the afternoon after my journey mapping workshop I attended a Justin Robbin’s session on metrics. Justin began by asking attendees the most important metric they tracked.

Think about it for a minute. Of everything you look at, which is the single most important item?

The first respondent said, “ASA [Average Speed to Answer],” whereas another followed up with “productivity.” This was followed by “response time,” “commission” and “occupancy.”

Do any of these resonate with you? If so, then you need to rethink your approach. Read more

Webinar: Drive Growth by Reducing Customer Effort

Blog Post BannerNow more than ever, customers are demanding top-notch service. In an age when there are options upon options for any service they could require, customers are taking full advantage of that fact: when they aren’t satisfied with the service they receive at a company, they simply bring their business to another. After a poor service experience, 71% end their relationship with that company, and most of them—61%—choose a competitor to go to.

Customer service is a key component of the customer experience, having a disproportionate impact on a customer’s loyalty. A company that offers differentiated service will retain loyal customers. But what does differentiated service entail? According to a study by Bain, 80% of companies feel that they offer superior customer service—but only eight percent of customers agree.

Common customer service practices, such as service calls, can seem to exemplify quality customer service to the company that provides it. In fact, service calls are nearly four times as likely to decrease loyalty as to increase loyalty, and as this shows, companies are often in the dark when it comes to what customers themselves want from their customer service.

How to Combat This?

When it comes to loyalty, it’s been shown that reducing customer effort and offering a seamless experience works best. Designs and options that are intuitive for a customer to navigate encourage customers to return to the companies that provide the kind of service they can understand and connect to.

BT’s research found that their customers who rated their service experience as “easy” showed a 40% reduction in their propensity to churn. Improving your customer service can show dramatic increases in growth. Increasing customer loyalty by just five percent leads to a profitability growth of 25-90% making superior customer service but important to a company’s growth and profitability.

So, how can you make it easier for your customers? I’ll address this in an upcoming webinar. I’ll be joining Talkdesk on Wednesday, August 19 for a webinar that will dive into these questions. You can register here.