CX, customer experience is the overall experience or a feeling the customer gets out of all the interactions with your business or brand.
Why CX can make or break your business?
Because customers run your business. Right from acquiring to retaining, you spend money on your customers. So does your competition. You’re always at the risk of losing customers — until your customers become loyal to you. This is why every company aims to offer a better experience to their customers so that they don’t lose them to the competition. Demandingly it’s a game of perceptions. According to recent Bain and company’s survey customers of 362 companies, 8% only felt that they were offered superior experience, yet 80% of the companies already were convinced they have been offering a superior experience to their customers. That’s the gap.
Is CS (customer service) or CC (customer care) same as customer experience?
No. Customer Service is a smaller part of CX. When a customer asks for assistance and you give it, that’s customer service. So what is customer care then? Is that closer to CX? Customer care can be termed as going the extra mile by emotionally understanding and acting to your customers’ problems.
CX as a superset is more proactive, process-oriented and strategic. It involves understanding, listening, answering and actioning. So is it very subjective? How do you measure your CX efforts? Are there any numeric indicators?
Here are the top 4 CX metrics
Net Promoter Score (NPS)
A loyalty based score. How likely your customer will recommend your business to someone on a scale — widely many use a scale of 1 to 10.
Customer Satisfaction Score (CSAT)
A satisfaction survey on a scale of the product/service your customer received from you.
Time to Resolution (TTR)
Average time it has taken to resolve a ticket.
Customer Effort Score (CES)
When you want to measure the easiness of the action the customer took. It could range from easy to difficult.
How effectively you use the CX metrics in your CX strategy can determine the success of your business — whether you run it inhouse or outsourced?