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Customer Experience.

LET’S TALK LEADS

Concept partners with our clients to design, implement, and manage the execution of Customer Experience (CX) programs. Having a good pulse on Customer Experience can be a powerful predictor of customer retention, loyalty and the likelihood for repeat business. Implementing a Customer Experience survey program allows for your organization to continue to build on what customers like, improve in the areas they’d like to see get better, and jump ahead of any customer issues before they progress too far.

A business simply can’t grow sustainably if it has a churn problem. If your organization churns clients faster than you can acquire new ones, your business will fail. Developing a strategy to identify early warnings, red flags, and measure customer satisfaction is the first step in improving churn and increasing Customer Experience.

What is Customer Experience (CX) & Why is It Important?

Customer experience is the overall perception of your organization. A company’s inability to measure customer experience prevents companies from being able to identify unhappy customers. Without having an accurate pulse on this, it’s difficult to know who will churn and identify the root cause of their dissatisfaction. Without an effective CX program, many companies rely on perception-based feedback from their Accounts/Sales Team regarding potential client concerns and issues. While there are instances where an effective account/sales rep can foresee potential struggles ahead that a survey or feedback from a customer doesn’t share, other times relying on this model can create a conflict of interest for reps to openly share areas where the client is not happy with the organization for fear of getting perceived as mismanagement.

Measuring Customer Experience (CX)

Two of the more common ways to quantify and measure overall customer experience is by measuring Customer Satisfaction (CSAT) and Net Promoter Scoring (NPS). Each measurement can help provide insight into important areas of the customer experience.

Customer Satisfaction (CSAT)

CSAT measures customer satisfaction with a specific product, service, or experience. While the impact of gaining insight into customer satisfaction can be very eye-opening, measuring it is quite simple. CSAT is most often measuring the response to a variation of this question:

“How would you rate your overall satisfaction with the [goods/service] you received?”

Respondents traditionally use the following 1 to 5 scale:

  • Very unsatisfied
  • Unsatisfied
  • Neutral
  • Satisfied
  • Very satisfied

Results are averaged and CSAT scores are expressed as a percentage scale ranging from (100%) being total customer satisfaction, (0%) being total customer dissatisfaction. Data shows that only using responses of 4 (Satisfied) and 5 (Very Satisfied) in the calculation is the most accurate predictor of customer retention.

(Combined number of (4 & 5) responses / Total number of survey responses) x 100 = % of satisfied customers

Net Promoter Scoring (NPS)

Net Promoter Score (NPS) measures the overall loyalty/perception of a customer to a company. Like CSAT, NPS scores are measured by the response to a simple question:

“How likely is it that you would recommend [Organization X/Product Y/Service Z] to a friend or colleague?”

Those surveyed are asked to give a rating between 0 (Not at All Likely) and 10 (Extremely Likely). Based on their response, customers are then bucketed in one of 3 categories:

  • Promoters (score 9-10) – Loyal enthusiasts who will keep buying and refer others, fueling growth.
  • Passives (score 7-8) – Satisfied but unenthusiastic customers who are vulnerable to competitive offerings.
  • Detractors (score 0-6) – Unhappy customers who can damage your brand and impede growth through negative word-of-mouth.

Subtracting the percentage of detractors from the percentage of promoters yields the Net Promoter Score, which can range from a low of -100 (if every customer is a Detractor) to a high of 100 (if every customer is a Promoter).

For example, if 20% of respondents are detractors, 30% are passives and 50% are promoters, your NPS score would be 50-20 = 30.

Gathering Customer Experience Intel

Gathering Customer Experience (CX) data can be done in multiple ways, whether email surveys, driving traffic to a page on your site where the survey lives, reaching out over the phone, or a combination of multiple, Concept is here to help. We have found that leveraging only one method of survey tactics only scratches the surface. We partner with our clients to increases CSAT & NPS survey completion with a multi-touch approach.

We measure customer experience for you to identify areas of improvement to ensure your customers are being heard and your organization is out in front of areas to improve and potential red flags that arise.

WANT TO IMPROVE YOUR CUSTOMER EXPERIENCE?