5 Essential Customer Experience KPIs to Analyze
CX leaders are depending on many metrics to optimally running their contact centre to provide seamless and great customer experience. These metrics are essential for leader to have deep insights into what’s going on, what to improve and important how their customer experience and feel about the services or product organization provides.
The following 5 metrics are essential for CX leaders.
Customer Satisfaction Score (CSAT)
CSAT is one of the most common key performance indicators used to track how satisfied your customers are with your products or services at every stage of the customer journey. CSAT are essentially questions with numerical value, such as, “How happy are your recent call with us?” Customers can then pick a star rating that best describes their experience, ranging from 1 to 5 stars.
Net Promoter Score (NPS)
Net Promoter Score (NPS) is a customer loyalty and satisfaction measurement taken from asking customers how likely they are to recommend your product or service to others on a scale of 0-10. NPS is a commonly used way of gaining insight into how your target audience views your brand and what you could be doing better.
Customer Lifetime Value (CLV)
CLV is a measurement of how valuable a customer is to your company, not just on a purchase-by-purchase basis but across the whole relationship. Your customer lifetime value (CLV) is one of those “shared” metrics that multiple teams (like your marketers!) will find useful to track. Knowing your CLV helps you pinpoint your high-value customers—and better target the right kind of customer that can drive revenue over the long term.
Churn rate is essentially a calculation of how many customers stop doing business with your brand over a set period. Targeting new customers requires more time and money, and while it’s important to get new customers onboard, it’s just as important to spend time making sure your current customers are happy.
Customer Effort Score (CES)
Customer Effort Score (CES) is a metric that measures how much effort a customer has to exert to get an issue resolved, a request fulfilled, a product purchased/returned or a question answered. The idea behind CES is to see where you need to improve your CX as a company across different touchpoints, and how you can make it as effortless as possible.