Report: The State of CX Metrics, 2013
December 17, 2013 Leave a comment
We just published a Temkin Group report, The State of CX Metrics, 2013. The research shows how large organizations are using CX metrics. Here’s the executive summary:
Companies with stronger CX metrics programs are more likely to be customer experience leaders. We asked over 170 large companies about their use of customer experience (CX) metrics and compared their answers with similar studies from 2011 and 2012. We found that although companies view CX metrics as important, only 12% of respondents received at least “good” ratings in Temkin Group’s assessment. Our self-test examines four areas: consistency (does the company use common CX metrics across the organization?), impact (do the CX metrics inform important decisions?), integration (are trade-offs made between CX and financial metrics?), and continuity (do leaders regularly examine the CX metrics?). The analysis shows that while interaction-satisfaction and likelihood-to-recommend metrics are on the rise, companies do a particularly poor job of measuring non-customers (non-buyers and defectors), the emotional response of customers, and mobile and cross-channel interactions. Customer service remains the best-measured portion of the lifecycle, and it has consistently improved over all three years. Companies rate themselves the lowest in making trade-offs between CX and financial metrics, but this area has still improved since last year. Our research also uncovered that more than eight out of ten NPS users report positive results. Ultimately, to fully measure customer experience, companies need to develop measurements that link behaviors, attitudes, perceptions, and interactions.
Here are some additional findings from the research:
- Seventy-three percent of CX metrics leaders have above average customer experience compared with only 45% of CX metrics laggards.
- The two most widely used CX metrics are interaction satisfaction and likelihood to recommend. More than 80% of respondents use each of these metrics.
- Customer service is the highest rated area of measurement across the customer lifecycle, an area that companies have steadily improved on since 2011.
- More than 60% of companies think they do a good job collecting CX metrics on phone calls, but less than 30% feel that way about wireless devices and cross-channel interactions.
- Only 30% of respondents think they do a good job measuring customer’s emotional response after an interaction, but that’s an increase from 25% in 2011.
- Less than 30% of respondents think they are good at tying compensation to CX metrics and making trade-offs between financial and CX metrics.
- Forty percent of companies review CX metrics more frequently than quarterly.
The bottom line: CX metrics are being used, but not very effectively