The 20 Best Customer Experience Metrics For Your Business
Customer experience is all about customers, but it’s backed up by numbers. Metrics showcase the progress of customer experience initiatives and pinpoint areas for improvement. KPIs are also often connected to finances and play a crucial role in gaining additional funding for customer experience programs and showing the ROI. There’s a huge world of data out there, but here are the 20 best customer experience metrics for your business to paint a complete picture of the progress of your CX strategy.
Net Promoter Score. NPS shows the percentage of customers who would recommend your company to friends and family. It is the most commonly used customer experience metric because it is simple and relatively accurate. Customers are simply asked, “How likely are you to recommend this company to a friend or colleague?” on a scale of 1 to 10, which gives brands a good idea if their efforts are creating positive experiences.
Sales. This metric tracks the bottom line of a company and looks to see if the number of sales has increased over a certain time period or since a customer experience initiative began. Companies that focus on customer experience tend to make more sales, so this number should ideally increase with more emphasis placed on the customer experience.
Customer Loyalty. Loyal customers can be incredibly strong advocates for the brand. Track this metric by measuring how often customers return after their first purchase and prove their loyalty to the brand with regular purchases instead of going to the competition. Loyal customers have a proven track record of regular purchases.
Customer Engagement. Some customers just make purchases, and other customers are engaged with the brand with strong interactions. This metric tracks how engaged customers are by measuring things like how often they communicate with the brand, how long they spend on the website and how many clicks they make.
Customer Retention. This number measures how many customers come back for a second purchase. Strong customer experience can often entice customers to return, which can lower overall costs and create a strong group of return customers.
Employee Satisfaction. A strong customer experience starts with satisfied employees. Tracking employee satisfaction can be as simple as asking employees if they are satisfied with their jobs or having them rate their satisfaction on a scale of 1 to 10. In general, employees who are more satisfied with their jobs naturally provide better customer service.
Customer Effort Score. CES measures how much work customers have to do through an interaction with the brand. It is usually measured by asking customers “How much effort did you have to put in to resolve the issue?” on a scale from Very Low Effort to Very High Effort. CES helps companies determine customer friction points and find ways to create a more seamless experience.
Customer Acquisition. Customer acquisition measures the cost of getting each new customer. This includes things like marketing, customer experience and data. The goal is to keep acquisition costs low without missing out on potential customers. If a business has a strong customer experience and is getting customers from referrals and its strong reputation, it can lower the customer acquisition cost.
Customer Lifetime Value. CLV is how much a customer is worth to the business over their lifetime. Customer lifetime value helps brands see what they are getting out of their investments in marketing, acquisition and customer experience.
Customer Satisfaction. CSAT measures the average satisfaction score of customers. In general, CSAT is used for specific interactions, such as calling the contact center or making a return. Customers are asked to rate their satisfaction on a scale from Very Satisfied to Not at All Satisfied. CSAT surveys are often...