Cos. With Strong Customer Experience Metrics More Confident in CX Results

December 14, 2012

This article is included in these additional categories:

Analytics, Automated & MarTech | Customer Service & Experience | Data-driven | Mobile Phone | PR

A new Temkin Group survey [download page] of 200 companies with annual revenues of at least $500 million finds that those with stronger customer experience (CX) metrics programs are much more likely than those with weaker programs to rate their overall customer experience highly. While those results suggest that a focus on metrics can enhance the experience a company delivers, the survey also finds that only about one-third of companies consider CX metrics when making key decisions.

The Temkin Group measured CX metrics across 4 areas: “consistent (does the company use common CX metrics across the organization), impactful (do important decisions consider the CX metrics), integrated (are trade-offs made between CX and financial metrics), and continuous (do leaders regularly examine the CX metrics).”

The researchers found that just 11% of the companies measured qualified as having a “good” rating. When compared with the other companies, though, those with strong programs were far more likely to say that the overall customer experience their company delivers is one of the best in their industry (19% vs. 1%) or significantly above-average (21% v. 7%). By contrast, those with weaker programs were more likely to rate their results as below-average (20% vs. 9%) or about average (37% vs. 23%).

Metrics Tracking Doesn’t Improve Much From 2011

Further details from Temkin Group’s “The State of CX Metrics, 2012” reveal that roughly 4 in 10 executive teams review CX metrics on at least a monthly basis, but that is mostly unchanged from last year. Analyzing the metrics that companies regularly track, the study finds that not much has moved from last year.

The leading metric tracked on a regular basis is the likelihood of customers to recommend a company, with 83% doing so, up from 76% last year. Beyond that, slightly fewer are regularly tracking customer satisfaction with specific interactions (82% vs. 84%), and customer perception of the brand (69% vs. 73%). And while more are now tracking the ease of doing business with a company, the number and value of new customers, and the likelihood of customers to repurchase, less than half now look at the number and value of customers that churn or don’t renew.

Standing in the way of more effective metrics are difficulties with cross-channel measurements. While a majority of respondents expressed satisfaction with their measurements of phone and online experiences, only about 1 in 4 could say the same about measuring mobile and cross-channel experiences. A report from Satmetrix released in April found similar problems. Asked their biggest challenge when measuring customer experience, 21% of respondents to that survey cited tracking across channels, making it the second-biggest challenge, behind closing the loop with customers (22%).

About the Data: The Temkin Group survey of 213 companies with annual revenues of $500 million or more was conducted in Q3 2012.

45th Parallel Design Ad

Explore More Charts.

Pin It on Pinterest

Share This