Many companies measure some level of customer delight, satisfaction or loyalty. Some of this is done at the customer touch point, e.g. customer service, product delivery, sales interaction, and some is done at the relationship level e.g. Brand, customer experience, product innovation.
What is clear is the gap in creating a customer measurements system that links the voice of the customer to the financial performance of the business.
The key ingredients to build a customer measurements model are:
- Measure customer feedback for your highest volume customer transaction processes (no more than 2-3 processes; e.g. customer service; inside sales; product delivery)
- Create a customer focused ‘Quick Win’ Dashboard that measures your customers’ moments of truth (operational metrics; e.g. speed of answer of phones/emails; product delivery timeliness) – no more than 8-10 metrics at any one time
- Implement a quarterly relationship survey with an ‘index’ that has a high correlation to your financial results and is easy for your employees to relate to and understand – your employees need to be able to find themselves in your customer measurement so they can be part of improving your customer’s experience
- Analyze the linkages between your operational metrics, relationship survey results and your financial results – make the most of what you measure and track
- Communicate results monthly to all colleagues and customers – be transparent and open
So what is the key takeaway? Unless you are linking your customers’ feedback to their behavior as it relates to your financial performance you are better off doing nothing. Of course that is not our recommendation do something but ensure you are building towards an overall predictive measurement model.
CustomersFirst Now (CFN) has been refining our CX solutions for more than 40 years – working with and for many Fortune 100 companies. We provide the only proven, predictive process that links Customer Delight to financial performance by incorporating and measuring CX Best Practices across all key business disciplines. For more information contact Kerri K Nelson, CEO & President, at email@example.com