Measuring the experience through customer experience indicators has become the common goal of all brands.
New challenges for companies.
Today’s organizations face a new, overly broad challenge to successfully manage the customer experience.
According to Berry, this challenge ranges from figuring out how to create compelling customer experiences at all stages of customer engagement, to managing customer expectations and evaluating them before, during and after the buying process.
If you want to know all of this information, you must pay close attention to the information provided by promoters, passives and detractors about your experience with your brand. You must create meaningful experiences at every stage to have the right presence in the consumer’s mind.
How do you know if your customer experience metrics are good?
It is necessary to have a point of comparison to know if the results of your experience indicators are good enough beyond a number. It is very important to have a benchmark to be able to compare data and see its evolution.
Customer experience indicators: The Net Promoter Score.
The NPS is one of the experience indicators that helps you understand where you stand with your customers. With it you will be able to know how your customers perceive you and what they think of the overall experience they have had with your brand.
Periodic measurement of NPS allows you to:
- Take the pulse of your customer relationships.
- Make informed decisions about improvements to your offering.
- Better understand how to engage with customers at every touch point.
Following specialist Phil Klaus in his book Measuring Customer Experience:
“It is time to reflect and ask whether customer experience measurement has accomplished what it sought to do since we have entered an era where customers call the shots and success will be based on the ability of companies to meet customer demands and expectations. Only companies that deliver the desired customer experience will survive in the next competitive battlefield”.
That’s why it’s not enough just to have experience indicators. It is necessary to have a comparison with companies in the same sector or even with the direct competition; in this way it will be possible to have a vision of how well the company is performing.
The NPS indicator should be related to the sector. This is because there are often significant differences between sectors as highlighted by the consulting firm Retently.
In its blog it states that the average Net Promoter Score for Healthcare is in the range of 31, the lowest being a value of 20, while the average NPS for Communication and Media is in the range of 15, the lowest being -6.
Promoter scores provide information about the number of customers who are likely to not only continue to buy from your company, but also to recommend it to others. There are two ways to look at your NPS score, and this will change the way you look at what a “good” score is. These two formulas are absolute and relative NPS.
The net promoter score, calculated using the NPS formula, is compared to the scores of all sectors. In general, the absolute NPS is broken down as follows
- Good: Above 0
- Favorable: Above 20
- Excellent: Above 50
Your score is measured against competitors within your specific industry. On TrustMary’s blog you can collect the NPS score of the top companies.
Absolute NPS vs. relative NPS.
It is important to understand the approach through which you are analyzing your NPS, as absolute NPS and relative NPS can have dramatically different results. You may not have a “good” net promoter score on average across all industries, but you may be doing exceptionally well compared to your immediate competitors.
Using customer experience metrics data.
Once experience metrics data has been gathered, companies can use benchmarking as a comparative tool to see how they are performing against other competitors within their industry.
Benchmarking can help achieve improvements in:
- Identifying which competitors are doing well in the field.
- Understanding what competitors are doing to get results.
- Identifying operational actions to improve the customer experience.
- Identifying new best practices to incorporate into operations.
For all of these reasons, measurement and then benchmarking against the industry and the competition becomes critical to the success of the company in this environment. Calculating these metrics is easy if you have experienced programs that collect and calculate all the data.
Allswers is an experience measurement and management software, which with its 30-day free trial, you will be able to analyze and exploit all the information related to your customers’ experience.