Report: The State of Customer Experience Metrics, 2014

1501_StateOfCXMetrics2014_COVERWe published a Temkin Group report, The State of Customer Experience Metrics, 2014. This is the fourth year that we’ve published this report on how companies are using CX metrics. Use our CX Metrics Assessment, along with data from large companies, to benchmark your organization’s CX metrics efforts. Here’s the executive summary:

We asked over 200 large companies about how they use customer experience (CX) metrics, and then we compared their answers with similar studies we conducted in 2011, 2012, and 2013. The most commonly used metric is likelihood-to-recommend, which has been steadily rising in popularity over the past few years. While more than half of the respondents described themselves as “good” at collecting CX metrics, less than 20% described themselves as “good” at making trade-offs between financial metrics and CX metrics. Companies are best at measuring customer service and phone-based experiences and worst at measuring the experiences of prospects and customers who defect. In addition to answering survey questions, we had companies complete Temkin Group’s CX metrics competency assessment, which examines four areas: consistent (does the company use common CX metrics across the organization?), impactful (do the CX metrics inform important decisions?), integrated (are trade-offs made between CX and financial metrics?), and continuous (do leaders regularly examine the CX metrics?). Only 11% of respondents received at least a “good” overall rating, and companies earned the lowest rating in impactful. Companies with stronger CX metrics programs are more likely to outperform other companies in both CX efforts and overall business results.

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Here are the results from companies that completed Temkin Group’s CX Metrics Assessment:

1412_CXMetricsAssessmentResults

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The bottom line: CX metrics are critical, but must be used correctly.

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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