Customer Experience KPIs
Written by Support EXP
If you’ve ever wondered how customers really feel about your business, you’re not alone! It’s crucial for you to know whether customers are satisfied with their purchase, whether they’ll recommend you to their friends, and even how easy it was for them to navigate your website.
The best way to figure out all these things is through customer experience KPIs! Performance indicators can give you a read on where you are and suggest action areas to improve the customer journey. Learn more about the details of CX KPIs below!
Key Takeaways:
- Customer experience KPIs are useful performance indicators that can suggest actions for CX improvement.
- CSAT, NPS, and CES are popular KPIs that can be used in different ways to identify pain points and understand customer satisfaction.
- Because each KPI measures something different, there is no single “perfect” metric; the best KPI to use is dependent on an organization’s goals.
What Is CX Performance?
Customer experience performance, and the associated metrics, track how well you’re doing when it comes to satisfied customers. When looking at performance, it’s important to use relatively objective standards to get the most precise picture of how things are going for your business.
Your overall goal in tracking performance should be to ensure that your customers are satisfied and that, ideally, they’re ready to recommend your brand to their friends.
Your overall goal in tracking performance should be to ensure that your customers are satisfied and that, ideally, they’re ready to recommend your brand to their friends.
Popular Customer Experience KPIs
On a practical level, the best way to track performance is through CX KPIs or Key Performance Indicators.
These metrics give you a standardized tool to understand customer satisfaction and pain points and compare your performance to that of other companies in your industry. Here are a few of the most common customer service KPIs and the best ways to use them:
C-SAT
The C-SAT measures a “customer satisfaction score,” usually through a survey sent out to buyers, asking them to rate a specific interaction with your brand. While the wording of a C-SAT might vary, the survey most commonly asks customers to rate on a scale of “very satisfied” to “not satisfied at all.”
This CX KPI is useful because it can be updated quickly, follows up on real customers, and narrows the focus to a specific experience.
NPS
The NPS®, or Net Promoter Score, asks how likely a customer is to recommend your brand, product, or service to a friend.
Results are recorded on a scale of 0–10, with very high scores being classified as “promoters,” medium scores as “passive,” and very low scores as “detractors.” Your goal with the NPS is to increase the number of your promoters while limiting detractors and passive customers.
This metric is a helpful gauge for customer enthusiasm because it doesn’t just track whether a customer was satisfied—it measures how excited a customer is about your company and whether you can count on them to promote you to their friends.
CES
The CES (Customer Effort Score) measures how much effort it took a customer to complete a specified action.
Are your customers struggling to find products on your site? Are they confused by the checkout page? Was it hard for them to find tech support?
Customers are asked about a specific part of their journey via an automated survey, and told to rate how hard it was for them to complete the step.
This survey is helpful because it allows you to quickly identify pain points that may be costing you business. The essential thing is to act on CES results as fast as you can before you deter any more prospective buyers!
What Is the Best Way to Measure Customer Experience?
It’s tempting to look for one “silver bullet” CX KPI—the single metric that perfectly encapsulates the customer experience and helps you make the best possible decisions for your business.
However, each metric is different, and the best KPI for you depends on your goals—whether you’re looking to develop a digital marketing strategy based on customer perception of your business or trying to increase customer retention rate.
Instead of looking for a one-size-fits-all KPI, consider which metric best meets your specific needs for a given project. What do you want to do with your data?
Another essential aspect to keep in mind is that all KPIs are fallible.
While results are generally accurate, don’t treat them as perfect. Each metric has its limitations—a high score of 10 might mean more to one customer than another, or a technologically savvy customer might find a task more straightforward to complete than a less experienced user.
Always take the results of any metric with a grain of salt, and don’t put all your faith in a single score. Instead, combine the results of a KPI with other strategies and surveys to get a complete picture of how things are going in a specific area!
CX KPIs can be valuable for deeper insight into customer satisfaction.
When used correctly, a good metric can help you develop action items, hone goals, and improve the experience for everyone who interacts with your brand.
However, beware of treating any KPI as a perfect solution; remember to use the metric as part of a broader strategy, rather than as a standalone solution!
If you’re a bank or credit union looking to improve customer experience with KPIs, Support EXP can help! We offer NPS, C-SAT, and CES analytics to give you the best possible data.
Make the best decision for your customers with help from the professionals at Support EXP.
If you’re interested in learning more, contact us below.
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Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.