Report: The State of CX Metrics, 2012
December 11, 2012 1 Comment
We just published a Temkin Group report, The State of CX Metrics, 2012. This study of 200+ large companies shows limited improvement since last year. Here’s the executive summary:
Companies with stronger CX metrics programs are more likely to be customer experience leaders and to outperform the business results of their competitors. We asked over 200 large companies about their use of customer experience (CX) metrics and found that while these efforts are seen as important, only 11% of respondents received “good” ratings. Temkin Group’s assessment of CX metrics examines four areas: consistent (does the company use common CX metrics across the organization), impactful (do important decisions consider the CX metrics), integrated (are trade-offs made between CX and financial metrics), and continuous (do leaders regularly examine the CX metrics). Unfortunately, companies have not shown an improvement in our assessment since last year. The research also shows that the likelihood to recommend and ease of doing business metrics are on the rise, but companies do a particularly poor job of measuring non-customers (non-buyers and defectors), emotional response of customers, and mobile and cross-channel interactions. To fully measure customer experience, companies need to develop measurements that link behaviors, attitudes, perceptions, and interactions.
Using our CX results from our CX metrics assessment, we compared companies with strong CX metrics efforts to other companies and found that the stronger programs have much better CX results.
- Only 11% of respondents think that their company mostly integrates CX and financial metrics, and it’s down from 13% in 2011. Also, only 35% of companies consider CX metrics in many of their important decisions.
- About 40% of executive teams review CX metrics at least monthly, which is about the level we found last year.
- Fifty percent of companies use common metrics across most of their company, an increase from 43% last year.
- Over half of companies feel good about their measurements of phone and online experiences, but only about one-quarter of them feel that way about measuring mobile and cross channel experiences.
The bottom line: Don’t just measure CX, use the metrics to run your business