How to promote positive customer experiences with advanced CX data.
Before digital services became the norm, customer feedback could be gathered from a singular touchpoint in the form of a face-to-face interaction. This direct communication made it easier for companies to understand where improvements needed to be made. But as organizations implemented more efficient, self-service options to expedite service, the indirect interaction with customers made capturing feedback challenging.
In the late 1990s and early 2000s, customer experience (CX) analytics rose to prominence as digital capabilities became more sophisticated. Today, companies can measure every customer touchpoint to determine the efficacy of their services. This data plays an important role in understanding customer needs, viewpoints, and experiences. And without this key information, companies can’t make the improvements needed to remain competitive in their industry.
Benefits of CX Analytics
If your company hasn’t established a customer analytics solution, you’re missing out on several ways to differentiate your company from your competitors. Finding out what customers like and don’t like about interacting with your company enables you to improve internal operations to deliver the service your customers expect.
● Increase efficiency
A solid CX analytics solution can identify sources of customer dissatisfaction. Are customers disengaging at a certain touchpoint? Are there breakdowns in communication that are causing frustrations? With easy-to-read data that clearly highlights opportunities for improvement, companies have a tangible action plan to improve performance, saving time and money.
● Improve perception
CX analytics help companies translate direct and indirect customer feedback into improved experiences. Customer expectations are at an all-time high. Poor service, substandard capabilities, and confusing processes can contribute to customer churn, no matter how good your product or service is. Brand perception is just as critical as company performance.
● Hone employee performance
The right CX analytics solution gives specific insights into where inefficiencies are occurring, and not just at a campaign performance level. Identify what delights customers and opportunities for improvement at the individual employee, team, and company levels. CX analytics can identify internal hindrances that can prompt your executive management to make swift changes.
● Streamline strategy
Your organization will have evolving CX initiatives throughout your company lifecycle. Whether you’re hoping to reduce churn, get more customers in the pipeline, or improve customer sentiment, CX analytics will enable you to identify what resonates with your customers and pinpoint what steps to take next.
● Personalize experiences
Customers expect more than one-size-fits-all experiences. CX analytics can help you understand customers’ unique tastes and preferences, then adjust your CX strategy to serve them. It also enables companies to monitor and test alternative customer communications to deliver the right message, at the right time, using the customer’s preferred mode of contact.
● Predict customer behavior
Once you’ve mastered the immediate next-steps provided by CX analytics, you can begin to use that data to anticipate future customer needs. Predictive CX analytics put you a step ahead of your competitors and prepares your employees to address changing customer mindsets.
CX Metrics to Watch
By evaluating the customer experience at every touchpoint, companies gain a holistic view of the customer experience to ensure it is consistent across all areas. CX analytics platforms help manage the stream of quantitative feedback based on survey questions and open-ended feedback in the form of customer comments to provide actionable insights. Based on your industry, here are some of the common CX metrics used by leading companies:
- Issue resolution
- Resolution/response times
- Customer churn rate
- Ratio of positive to negative comments
- Company reputation on social media and review sites
- Satisfaction with individual field technicians and customer support personnel
- Survey response rates by channel (IVR, Email, SMS)
- Industry-recognized KPIs, such as:
- Customer Satisfaction Score (CSAT)
- Net Promoter Score (NPS)
- Customer Effort Score (CES)
- Customer Lifetime Value (CLV)
How to Use Data to Take Action
You’ve got the data – now what? Gathering and analyzing the data only works when actionable steps follow it. Once you have a loop of gathering, analyzing, and implementing, you eliminate gaps and barriers in the customer journey. But turning data into action is where many companies get stuck. Here’s what to do next:
● Close the loop with dissatisfied customers
A critical component to an effective CX program is following up with dissatisfied customers to resolve their issues. Customers appreciate when their concerns are responded to by a person when they provide feedback. An apology for not meeting a customer’s expectations and actions to resolve their concerns is typically all it takes to heal a negative experience.
● Compare and contrast
Conduct a side-by-side comparison of your data against benchmarks and other company metrics. Any gaps between these are where you need to focus. Evaluating processes related to these areas and making improvements should improve customer satisfaction with these areas over time.
● Empower your teams
Once you’ve got your measurements in hand – and what goals you’d like to achieve – empower the right teams to act on it. Communicating results at all stakeholder levels is key and encouraging teamwork and collaboration promotes a culture of success. Recognize top performers and mentor those who need to improve in specific areas.
Advanced CX analytics are a key component to a company’s customer service strategy. Retain, engage, and attract customers by consistently using your CX analytics to make company improvements. With the above methods in place, you can expect your organization to increase ROI, improve brand loyalty, and reduce redundancies – important endeavors for healthcare, telecommunications, utilities, and finance companies.
Our customer experience analytics platform provides both operational and analytical reporting to help you tap into the customer experience and use the data to take action. Schedule a free demo here.