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Customer Experience Metrics

Last updated: 13.06.2022
Author: Marko

Customer experience metrics are important for understanding how customers interact with your company. By tracking these metrics, you can identify areas where you need to make changes to provide a better customer experience. But where do you start? Read our article to learn more about CX metrics and how to use them in your business.

Measuring Customer Experience

Measuring CX is more important than ever for companies. Without accurate measurements, it can be difficult to determine whether changes made to the customer experience are actually having an impact. This is where customer experience KPIs come in.

What Are Customer Experience KPIs?

CX KPIs are specific metrics that indicate how well your company is performing when it comes to customer experience. By tracking these indicators, you can make necessary changes and improve the customer’s journey. 

Net Promoter Score (NPS)

Net Promoter Score (NPS) is the global standard for measuring customer loyalty. It provides a simple, reliable metric to gauge the likelihood of customers recommending your company to others. How do you calculate it? Define the number of promoters and detractors among your customers with the help of a survey, and then subtract the latter from the former. 

Customer Satisfaction Score (CSAT)

Want to know how your company is doing when it comes to customer satisfaction? A customer satisfaction score (CSAT) is the best way to find out. It measures customer feedback and provides insights into what customers love (and don’t love) about your company. It’s an essential tool for any business that wants to improve their customer service and keep their customers happy.

Customer Service Satisfaction (CSS)

CSS measures how satisfied your customers are with your after-sales service. With customer service statistics showing that satisfied customers are more likely to return and refer others, make sure that your company is doing everything it can to deliver exceptional support.

Customer Health Score (CHS)

This is the first and only metric to measure customer sentiment in real-time. It’s like a Fitbit for your business, telling you how healthy your customer relationships are so you can take action before they get sick. You can measure your CHS by asking questions like how often your customer uses your product, what feedback (if any) they are giving, if they are asking for support/help with the product, and if they are active within the community.  

Customer Effort Score (CES)

This metric is designed to evaluate how much work your customers have to do in order to get what they want from you. It’s a way of quantifying the amount of hassle your customers experience when interacting with your company.

Customer Retention

Measuring customer retention is essential to understanding how well your company is doing at keeping its customers. Customer retention statistics reveal that this metric can help identify problem areas and determine what steps need to be taken in order to improve customer loyalty.

Conversion Rate

The conversion rate is a metric used to measure how successful a company’s website is at converting visitors into customers. It is calculated by dividing the number of customers who completed a desired action on the website by the total number of visitors to the site.

Cart Abandonment Rate

This measures how many customers add items to their online shopping cart, but then leave the site without completing the purchase. Cart abandonment stats show that this metric can help you how you can improve your website or checkout process to keep more customers from leaving.

Customer Churn Rate

This metric measures how frequently customers cancel their service subscriptions or stop purchasing products from your business. It’s an important metric because high churn rates can lead to the loss of valuable customers and revenue.

Average Resolution Time

This metric tells you how long it takes customers to get a response to their inquiry. Customer loyalty statistics show that by improving this metric, you can enhance customer satisfaction and commitment to your brand.

Customer Experience Scorecard

This is an interactive tool that lets you measure your company’s performance against industry benchmarks. You can see how you rank in terms of overall satisfaction, likelihood to recommend, and other key metrics.

Conclusion

In this article, we learned that knowing the most essential customer experience metrics is very important for your business. They provide a holistic view of how customers feel about their interactions with your company. By tracking CX metrics, you can improve the customer experience and increase profits. If you’re not currently tracking CX metrics, now is the time to start. And if you are tracking them, make sure you are using the right customer experience measurement tools to get the most accurate data.