Customer Experience (CX) – A Growth Strategy Like Never Before
A CX – Customer experience is all about customer’s satisfaction & happiness for our Products & Services. It’s about customers’ perceptions and feelings like Ease, Convenience, Reachability, Personalisation, Omni-channel experience while interacting with the Brand.
Customer experience (CX) refers to the sum of every interaction a customer has with a business both pre- and post-sale.
The customer experience strategy defines the actionable plans in place to deliver a positive, meaningful experience across these interactions.
How CX – Customer experience – matters for business?
As a business, you are always delivering experiences with each interaction and at each touch point- what varies is whether it is an experience that moves them closer to purchase or away from purchase. In other words, a good experience or a negative one.
It’s the same reason brands should have a marketing strategy like – you can either wait for your customers to find out about you OR you can take charge and define how your customers learn about you.
When defining your customer experience strategy, you want to ensure that you’re including all departments, not just the folks in customer-facing roles. By incorporating feedback and insight across the company
A customer experience (CX) strategy is like Organisation’s Business Objective & a process of Planning, Checking, Executing various activities / tasks/ resources to meet set satisfaction standards OR exceed customer expectations.
Having a good customer experience strategy means understanding customer behaviour and expectations, and delivering on these expectations.
Determinants of organizational CX strategy
Few Key Parameter while determining organisation’s CX strategy
- Customer Listening & Feedback
- Consumers today buy Experience not Products
- Improve Customer centricity with better products & Services
- Understanding Consumer needs & support during crisis
Delivering a great customer experience is hugely important for any business. The better experience customers have, the more repeat customers and positive reviews.
Causes of Bad CX
As we mentioned, customer experience is a customer’s overall perception of your company, based on their interactions with it. Comparatively, customer service refers to specific touch points within the experience where a customer requests and receives assistance or help.
Bad customer experience is primarily caused by:
Long wait times, Unresolved issues/questions
- Employees who do not understand customer needs
- Too much automation/not enough of a human touch
- Service that is not personalized
- Rude/angry employees
Performance measures for CX
By having a measurable indicator of CX, you can track how it improves (or worsens) over time and use it to evaluate the success or failure of changes you make that might be affecting your customers. Here are four top metrics used by CX professionals to track
customer experience over time:
- Customer Effort Score (CES)
- Net Promoter Score® (NPS)
- Customer Satisfaction Score (CSAT)
- Turn Around Time (TAT)
Customer Effort Score (CES)
CES measures the experience with a product or service in terms of how ‘ difficult’ or ‘easy’ it is for your customers to approach & resolve the issue with the Brand. CES are generally measured on a scale of 1 to 7.
Net Promoter Score (NPS)
NPS shows the customer loyalty rating & derived by asking customers just a simple closed-ended question: “On a scale from 0 to 10, how likely are you to recommend this product/company to a friend or colleague?”. NPS method is very easy & effective in terms of understanding,measuring, & Implementing across organisations.
Customer Satisfaction Rate
Customer satisfaction surveys measure customers’ satisfaction with the product or service they receive from you. They can be measured with a point scale with a category ranging from – very unsatisfied to very satisfied). In Net Promoter Score, customers consider their overall feeling towards the brand (and thus, their likelihood of recommending it or not), CSAT focuses the customer’s attention on specific touch points whether they are satisfied or dissatisfied.
Turn Around Time (TAT)
TAT is the average length of time it takes customer service teams to resolve an issue or ticket after it’s been opened by a customer. It can be measured in days or business hours, and is calculated by adding up all times to resolution and dividing the result by the number of cases solved. TAT is a crucial metric to track and improve Brand’s Customer Service: the shorter your TAT, the higher the Customer Satisfaction.
Over to You
Such metrics help in measuring the progress of customer experience initiatives and pinpoint areas for improvement. KPIs are also often connected to this and play a crucial role.This can help your business to paint a complete picture of the progress of your CX strategy. As we know that: Rome wasn’t built in a day — and you shouldn’t expect your customer experience strategy to be either..!!
If you want to know more about the customer experience and its performance metrics for your organization, we are just a click away. Book FREE Consultation.