CX Tip #6: Measure the Value of Key CX Metrics

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CX Tip #6: Measure the Value of Key CX Metrics
(Customer Connectedness)

If you know the value of improving a CX metric, then it’s easier to make the case for investments. JetBlue has previously measured that every promoter is worth $33 extra dollars ($27 from referrals and $6 from loyalty) to while a detractor is worth $104 less than average. One point change in JetBlue’s NPS is worth $5 to $8 million. Temkin Group research shows that a modest increase in the Temkin Experience Ratings can result in a gain over three years of up to $382 million for US companies and up to £263 million for UK firms, depending on the industry. It’s important for companies to develop this type of analysis for their business. Click for more info

See full list of CX Tips

About Bruce Temkin, CCXP
I am a customer experience transformist, helping large organizations improve business results by changing how they deal with customers. As part of this focus, I examine strategy, culture, interaction design, customer service, branding and leadership practices. I am also a fanatical student of business, so this blog provides an outlet for sharing insights from my ongoing educational journey. Simply put, I am passionate about spotting emerging best practices and helping companies master them. And, as many people know, I love to speak about these topics in almost any forum. My “title” is Managing Partner of the Temkin Group, a customer experience research and consulting firm that helps organizations become more customer-centric. Our goal is simple: accelerate the path to delighting customers. I am also the co-founder and Emeritus Chair of the Customer Experience Professionals Association (CXPA.org), a non-profit organization dedicated to the success of CX professionals.

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