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  1. NPS, CES, and CSAT are customer loyalty metrics. They’re used to measure the level of loyalty that a customer has toward your brand. Customers are considered loyal when they consistently purchase from your brand over an extended period of time.

    How do you get loyal customers? A great customer experience (CX), of course.

    In recent years, research by CustomerThink, Forrester, and Gartner have found at least 70% of business leaders believe CX will help their companies differentiate in a world where products and services are increasingly commoditized, and competing based mainly on price is not a viable long-term strategy.

    An indisputable key component of a customer experience strategy is the Voice of the Customer (VoC) program, also known as customer voice. It captures, analyzes and reports on all customer feedback—expectations, likes, and dislikes—associated with your company.

    In your VoC program, there are two types of customer data that you should collect: structured data and unstructured data. Today, we’ll discuss the three most popular customer loyalty metrics that fall under the structured category—NPS, CES, and CSAT—and the role that each should play in your CX strategy.
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  2. When we use the term Voice of the Customer (VoC), most people will automatically think of Net Promoter Score (NPS) or some form of customer satisfaction measurement tool.

    VoC actually refers to the way a brand captures customer feedback, and how they analyse and interpret these customer insights to improve the overall customer experience (CX).

    Not all brands are effective in using VoC. When capturing customer feedback, more often than not, a brand’s core objective is actually to learn how great the customer thinks they are! You will be familiar with the questions; would you recommend us? would you visit us again?

    These questions may help the brand boost their NPS score, but the responses are based only on customer intent. The power of VoC goes much deeper than this.
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  3. Net Promoter Score is a trusted, loyalty metric used by lots of businesses. Providing you with a benchmark that is indicative of your mobile customers’ success, this metric tells you how likely your customers are to recommend your business to others.
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  4. Even if your customer has made a purchase or completed a process, it doesn’t mean they did so with ease. Post-purchase (or post-experience) is a great time to ask how things went and where your customer stands loyalty-wise.
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  5. You don’t always have to approach your customers with NPS on a scheduled basis or tied to some sort of event. Get feedback on the strength of working relationships with your customers.
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  6. I recently discussed the importance of getting Voice of the Customer (VOC) feedback and common methods, such as surveys, to understand customer perceptions and expectations across different touch points. To be effective and acquire actionable insights, questions must be designed with best practices applied. I also recommend a “test & learn” approach.

    Writing and launching surveys has become a science and an art. I have seen cases where surveys have gone wrong because of undefined goals or wrong objectives. For example, if you consider the Net Promoter (NPS) question, you would not survey customers for the sole purpose of knowing IF they would recommend a company or its products. Instead, you should focus on understanding the reasons WHY customers would or would not refer. Also, you want to avoid asking leading questions that influence responder opinions, otherwise, you will not obtain “voice of the customer” feedback that is authentic and useful. While these are obvious tips, some things are not so clear like how much does survey question order matter?
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  7. We’ve all heard that writing according to the company style guide is good for customers because it creates brand voice consistency. But does that still apply when customers are looking for help? When it comes to self-service, the brand voice can often be tone deaf. It may be time to trade in the traditional brand voice for a more adaptive, empathetic approach to communication that puts the customer’s language and style, not your brand’s, at the center.
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  8. When retail brands started measuring CX through emails or SMS, they thought they would be rewarded with several benefits. For one, they would constantly monitor the pulse of their CX and react quickly to solve customer problems. Besides, CX conversations would start to happen across the organization and brands would have access to a benchmark. Customers would also be rewarded as they would be offered a new way to highlight issues or pass compliments. And, to a certain extent, some of those benefits did materialize.

    It was the time when some software vendors were claiming CX would improve if companies simply launched a CX measurement program (be it NPS or something else, as long as it used their software) that encompasses those metrics across the organization.
    Tags: , , , , by eringilliam (2018-05-23)
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  9. How do your customers really feel about your company? To find out, you could train employees to ask for feedback after each transaction, then feed those responses into a database. You could subject customers to a lengthy survey. You might also host periodic focus group meetings.
    Or you could ask customers one simple question — and use their answers to determine your Net Promoter Score (NPS).
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  10. Over the last few years the financial services sector has made significant improvements in the decisions it makes that affect customers. The major fines that resulted in big newspaper headlines a decade ago have dwindled, but at the same time customers still lack trust. A YouGov poll last year found that more than half of British consumers (55%) don’t think banks are working in their customers’ best interests. Given that it has never been so easy to switch a bank account or change insurance companies this has long-term negative consequences for financial institutions.
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