We published a Temkin Group report, The State of CX Metrics, 2015. This is the fifth year of this study that examines the CX metrics efforts within large companies. Here’s the executive summary:
Temkin Group surveyed nearly 200 large companies to learn about how they use customer experience (CX) metrics, and we then compared their answers with similar studies we’ve conducted every year since 2011. The most commonly used metrics continue to be likelihood-to-recommend and satisfaction, while the most successful metric is interaction satisfaction. And although the percentage of companies where senior leaders regularly refer to CX metrics has increased significantly from last year, fewer companies are making explicit trade-offs between CX metrics and financial metrics. Companies are best at measuring customer service and phone-based experiences and are worst at measuring the experiences of prospects and customers who defect. In addition to answering survey questions, we also had companies complete Temkin Group’s CX Metrics Competency and Maturity Assessment, which examines four areas of a metrics program: consistent (does the company use common CX metrics across the organization?), impactful (do the CX metrics inform important decisions?), integrated (are trade-offs made between CX and financial metrics?), and continuous (do leaders regularly examine the CX metrics?). Only 14% of respondents received at least a “good” overall rating, and companies earned the lowest rating in integrated. Ultimately, companies with stronger CX metrics programs deliver better customer experience, have stronger business results, more frequently measure ease of doing business, and compensate more employees based on CX metrics.
Here are the results form our CX Metrics Competency & Maturity Assessment:
Here are some other highlights of the research:
- Forty-nine percent of companies with stronger CX metrics programs have well above average customer experience compared to 17% of those with weaker CX metrics programs. The stronger CX metrics programs are also 50% more likely to have significantly better business performance then their competitors.
- While 64% of respondents rate their company as good or very good at collecting and sharing CX metrics, only 22% gave themselves those high marks when it came to making trade-offs between CX metrics and financial metrics.
- Likelihood to recommend and satisfaction remain the most popular CX metrics, while companies are most successful in using satisfaction as a measure of specific customer interactions.
- Seven out of 10 companies have compensation tied to CX metrics for some of their employees. Net Promoter® Score is the most common metric used and customer service is the most common group to have its compensation tied to CX metrics.
- Companies are most effective at measuring customer service and phone interactions and least effective at measuring the experiences of prospects and customers who have defected.
P.S. Net Promoter Score, Net Promoter, and NPS are registered trademarks of Bain & Company, Satmetrix Systems, and Fred Reichheld.