The Customer experience (CX) is all about a customer’s response to a product, application, brand, etc. Customer satisfaction is necessary for the brand building of every company. Customer Experience includes a wide range of responses, including cognitive, affective, sensory, and behavioral responses.
If you have experienced true satisfaction with a service or product, the experience becomes memorable. It may even convert you into a loyal customer. Every company out there wants to be the best amongst its competitors. There are many other ways to be customers’ first choice; one of those ways is to improve customer experience.
How to analyze/measure Customer Experience?
1. Measure customer satisfaction survey results using NPS
Customer satisfaction (CSAT) means the average satisfaction score the customers give to a specific experience they had with your company.
Carrying out customer satisfaction surveys and giving a meaningful and smooth customer journey will offer you insights into the customer experience your brand and product or service offers.
Typically, NPS (Net Promoter Score) is used to measure and analyze customer experience. Your customer experience analytics should have your data in aggregate across teams for CX measurement.
This is because multiple teams impact your overall customer experience. So, for a clearer picture of performance, you will have to create various data points. Break it down like this:
- Determine the NPS for attending a marketing webinar.
- Identify the NPS for customer service teams across multiple communication channels (social media, email, phone, etc.).
- Determine the NPs for in-product usage.
Measuring NPS from different points during the customer journey will make it easier for you to determine where you need improvements and where you provide the best customer experience. You can also take customer feedback to better understand from the customer’s perspective.
Customer feedback will show the number of customers who would or wouldn’t recommend your company to others (colleagues, friends, family, etc.). But these reviews will help you connect with your audience and improve their loyalty and retention rate.
2. Determine the reasons for customer churn and its rate
Churn rate is the percentage of customers who don’t return for a new purchase in a transaction-based business or cancel (or don’t renew) a recurring service in a subscription-based business.
It’s easy to calculate this metric. You just have to divide the total number of lost customers by the total number of active customers at any specific time. Then, analyze the churn rate regularly to determine if the rate has increased or decreased over time.
Moreover, make sure you highlight the reasons for churn and your team’s actions to decrease this rate in the future.
3. CES (Customer Effort Score)
CES is an essential metric in measuring customer experience. For example, a customer effort score lets you know how much effort a customer requires to complete a task on your website. For example, browsing a product they were looking for.
To measure this, you can send your customers an automated post-interaction survey that they can use to rate a specific statement on a pre-set scale. The survey statement depends on the task they recently completed.
For example, for browsing a product, you might ask, “It was made easier for me to find my favorite product?” You can give them a scale ranging from “strongly disagree” to “strongly agree” to rate the interaction. Just like this, you can measure different interactions to determine customer experience.
4. Using the first response and average handling time metric
First response time determines the average response time a customer requires to get the first response to the support issue they submitted. To measure this, you will take the average time from when a customer opens a support ticket until they receive their first response.
On the other hand, the average handling time determines the average time it takes for the company to resolve a customer support interaction from start to finish. Time spent on interactions with customers on a call, email, chat, or other communication channels and the time spent between these interactions is measured in this metric.
To measure the average handling time, you have to take the average of the time it takes to fully resolve a customer support issue from the starting point until it’s successfully resolved.
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What is Customer experience management?
CXM or customer experience management is a fundamental component of any company’s customer-first strategy as it shows a clear investment in customer needs. It also includes a princess of surveying, analyzing, and enhancing customer experience and interactions with a company.
Customer experience management highlights different touchpoints of a customer’s journey, monitors and improves these touchpoints to bring customers a consistently smooth experience and more value to users.
It is essential for new users as they want to see quick results to make their first purchase and for existing users, too. Moreover, if your company fails to add any additional value over time, these customers may lose interest and look for a better option.
Customer experience management (CXM) is for such customers and focuses on offering better features and programs to them. This helps in preventing a potential churn and decreases it over time.
How to improve Customer Experience?
To improve Customer Experience (CX), one needs to go through the whole experience. Think about the journey a customer takes when he receives a product. The journey starts from there and moves towards usage and then the results.
The best way to improve Customer Experience (CX) is to stay connected with your consumers. Become a friend who is always available in times of need. Here are some easy to improve it:
1. Stay connected
A brand that stays connected with its customers through good and bad reviews will most likely succeed than a brand that stays distant. You might have noticed how every website nowadays has a chat box in the right corner. These websites provide consumers a way to reach them whenever they want.
Customer care representatives are there at the backend to assist customers throughout their experience. Additionally, renowned companies provide customers with a heads-up about what to expect. This gives clarity to the customer and eliminates unrealistic expectations.
2. Consider the feedback
The feedback from customers helps you focus on the gaps. Consumers share their Customer Experience (CX), regardless of how it was. The provided feedback highlights the strengths and weaknesses, and you can then come up with a strategy to meet the gaps.
The best way to do that is to talk to people who actually know your customers. Usually, the customer care team deals with consumers firsthand, but a company can also have a qualitative analysis from the whole staff.
3. Timely response
Every customer feels valued if they receive a timely response; providing a timely response to your consumers converts first-timers into loyal consumers. Whenever a consumer emails, they should hear back within 2 to 3 hours. If the waiting period exceeds, it will make them impatient.
Sending out automatic replies which inform the customer about when they’ll hear back can eliminate the frustration. Keeping customers in the dark is going to earn you lots of bad reviews. Having a responsive customer care team is vital for a positive Customer Experience (CX) and Brand Building.
4. Come up with a strategy
Once you have considered the bad reviews, you would have all the gaps listed. Working on different issues at the same time may not get you anywhere. Instead, work on one problem at a time and have the relevant team of experts work on meeting that specific gap.
When the team formulates a solution, move towards the next one. It is known as the Next Issue Avoidance Strategy.
5. Focus on your design
Since we’re living in a global village, most services and products are available over the internet. Therefore, every online trading company should focus on its User-Experience (UX) and User Interface (UI) design to improve the Customer Experience (CX).
If the website isn’t user-friendly, you will have many confused customers filling your inbox with questions. Hence, it is necessary to focus on the Interface of your program or your website. User Experience (UX) design highlights the functioning of a specific product. However, if the product is digital, it also focuses on visual design.
Conclusion
In conclusion, customer experience (CX) is precious in keeping the users consistently happy and satisfied when they purchase products or services from you. It ensures that they return a second or many more times, resulting in customer retention and loyalty.