What are the Top 16 Metrics For Measuring Customer Experience?

Customer satisfaction is an important element for any business that wishes to maintain their reputation and grow, but how can your business know if the customer experience is actually a positive one? There are a number of metrics you can use to measure this and our guide to each one will break down the benefits of using them to ensure you’re heading in the right direction.

Interaction:

1. First Contact Resolution

FCR is a critical metric for measuring the number of contacts that are resolved on the first interaction. This allows for the company to see if problems are solved first time or if work needs to be done to improve complaints handling.

2. Average Resolution Time

ART is a metric that measures the average time it takes for a customer service advisor to resolve a ticket. This is important because it shows the efficiency of the team and whether the average time indicates problems that need to be addressed within customer support teams (lack of knowledge/training can lead to problems when interacting with customers).

3. Avoidable Contact

Avoidable contact is a lesser known metric and refers to customer interactions that could have been prevented or eliminated through better customer service processes, systems, or procedures. These are interactions that often lead to frustration, dissatisfaction, and negative perceptions of a brand or company.

 

Perception:

1. CX Index or CSAT Index

This is a metric that measures the overall satisfaction of a customers full experience when interacting with a brand or company.  Companies will also be able to compare themselves against the quality of the customer experience provided by different companies in a specific industry.

2. Employee Satisfaction

Employee satisfaction is key. As mentioned in our last blog, if your employees aren’t happy, then how do you expect them to interact and provide a service to customers that they believe in? Measuring your employee’s experience with your company can be pivotal for success. If your employees feel they are being listened to and communicated with effectively, then work ethic and drive will improve significantly and, as a result, customer experience will continue to be positive.

3. Visitor Intent

Visitor intent measures the reasoning for a customer to be on a company website, rather than the amount of time spent. The customer is asked a series of questions surrounding their reasons for visiting the website so the company can gain a better understanding of what they are being used for. This can be beneficial for the company as they can ensure their website has the right content and optimise its uses the next time the customer visits.

4. Social Listening

Social listening measures the amount of time a company is mentioned across social media channels, offering an insight into what people have to say about their brand (both good and bad) and allows for a better understanding of the opinions of customers. Due to the huge impact social media can have for a brand, this metric is incredibly important to ensure positive opinions and recommendations are being posted and if they aren’t, ensuring the right steps are taken to improve customer experience and gain positive mentions.

5. MRI Customer Culture

This metric is a powerful benchmark which measures the customer-centric culture of your business and whether it does enough to put the customer at the forefront. It also helps to see where more engagement needs to happen and what is working well so that the correct steps can be taken to achieve this.

 

Outcomes:

1. Net Promoter Score (NPS)

NPS is a great way to measure whether or not a customer would recommend a brand to a friend or family member. It simply asks the question and the customer can score between 1-10 the likelihood of recommendation. The benefits of using NPS is that it is quick and simple for the customer to complete and so more likely to evoke a response whilst offering the chance to give qualitative feedback which can be used to further enhance customer experience and satisfaction. However, the setback of NPS is that to maintain a high score, all answers should be 9/10, otherwise the overall score is brought down which could place employees under more stress trying to ensure the top marks are met.

2. Cart Abandonment Rates

Loyal customers don’t tend to fill their shopping cart on a website and then not proceed to purchase. This metric measures the number of customers not checking out and will highlight the need to improve website experience depending on the number of cart abandonment rates. If the number is high, there is potentially something lacking from the website that needs to be improved to ensure customers are checking out and purchasing the items or services they have selected.

3. Task Completion.

Much like cart abandonment rates, task completion is a metric which measures if a customer successfully completes the task that they visited the website to do so. A simple yes/no answer lets the company see which customers have managed to do what they were aiming for and which have not. A sound metric for a company that wishes to improve their website and ensure all customers are successful in doing so.

4. Trial-to-Paid Conversion Rate

This metric does what it says on the tin. It measures the percentage of people who start to pay after a free trial ends. This can be good as it shows the difference between who does continue and who doesn’t, meaning steps can be taken to increase the number of consumers paying once their trial has finished.

5. Customer Retention Rate

This is a measure of the percentage of existing customers that remain after a certain amount of time. This can help to understand what keeps customers interested and offers an opportunity to improve customer service if any problems arise.

6. Customer Churn Rate

On the opposite of CRR, the churn rate is the metric which measures when customers stop doing business with a company over a period of time. This also includes customers who cancel or don’t renew subscriptions which, in turn, helps understand what isn’t working when trying to retain customers.

7. Customer Referral Rate

This measures the number of referred purchases as a percentage of the total purchases. By measuring this, your business can see what works, how it works and when it works which can help to decide if it can help your business moving forward.

8. Customer Effort Score

This measures the ease of which the customer uses your product or service, resolves an issue or navigates a website. It allows you to see where customers are finding things easy to accomplish and what may need to be streamlined in order to make customer experience smoother.

The data needed for a company to be successful is incredibly important for future success. A company needs to be aware of what is and isn’t working for their customers and employees to ensure all experiences are positive and create loyal customers that recommend and refer friends and family to their services.

For more information contact us or follow our Customer Service Solutions business page on Linked In

Next Article: Why improve your complaint handling?

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