Report: State of CX Metrics, 2011
November 9, 2011 2 Comments
We just published a new Temkin Group report, State of CX Metrics, 2011. Here’s the executive summary:
Companies know that it’s important to use customer experience (CX) metrics and many are already getting value from those efforts. To understand what companies are doing in this area, we surveyed more than 200 large organizations. Companies use a wide range of different metrics with varied results. They track customer service, satisfaction, and phone experiences fairly well. On the other hand, they’re not very effective at measuring customers across the lifecycle, the emotional response of customers, or cross-channel interactions. When it comes to how they run their businesses, companies haven’t integrated CX metrics into their decision making or operational processes. In only 41% of firms, for instance, do execs look at CX metrics more frequently than once per quarter. Using Temkin Group’s four-question assessment, we found that only 10% of firms have good CX metrics programs, and they deliver better customer experience.
The research examines metrics within the context of an overall CX metrics program. Here are a few of the areas that are covered in the report:
- What metrics companies use (e.g., 84% use satisfaction and 76% use likely to recommend)
- Effectiveness at measuring different elements of the experience (e.g., 60% are effective at measuring customer service, 39% are effective at measuring new customers, 25% are effective at measuring emotional responses, and 24% are effective at measuring cross-channel interactions)
- Effectiveness of certain activities (e.g., 52% are good at collecting and communicating CX metrics and 19% are good at making trade-offs between financial and CX metrics)
- Executive use of CX metrics (e.g., 59% execs review CX metrics once per quarter or even less frequently)
- Key obstacles (e,g., limited visibility of CX metrics and lack of taking action are the top issues)
In addition, we introduced a simple self-assessment to help companies examine their CX metrics programs:
Here are the results from the 210 large companies that completed the assessment:
Here’s an excerpt and a figure from the final section of the report:
Companies need to identify the interactions that have the largest impact on customer perceptions that drive the most changes in their attitudes that generate the behaviors that support the business and brand strategy. CX metrics should focus on the key items in each of these areas.
The bottom line: Make sure customers are fully represented in how you run your business