Welcome to Success Strategies | August 2023
Are Your CX Improvement Efforts Measurable? Yes!
When an organization launches a CX improvement effort, it is often hard to measure results. When starting a CX program, it is easy to identify business outcomes but more challenging to, for example, measure customer retention after embarking on a Customer Experience initiative.
In my recent blog, What We’ve Learned to Help Clients Generate NPS Growth!, I share how CX performance measures have changed for one of our client groups. While we cannot access as much client information as needed to determine additional business outcomes from improved CX, our CX program and dealer support led to a remarkable NPS increase from 67% to 85%. Please take a few minutes to read it.
Forrester suggests the following steps to measure your CX improvement efforts:
- Analyze where you are now
- Estimate the potential benefits of improving CX
- Estimate the cost and timelines of CX investments
- Estimate your ROI
I’d like to share some articles I’ve found that discuss the critical link between CX and business success:
- Linking the Customer Experience to Value
- Customer Experience is Everything. Get it Right.
- Improving CX By 1 Point Can Drive More Than 1 Billion Dollars In Revenue
- Increase customer loyalty and retention with smart CX strategy
Doing the work to make your CX improvement investments measurable will be worth the effort to help others in your organization understand the power of CX on the bottom line.
In an upcoming blog, I plan to outline one outcome measure companies should consider a critical CX performance measure.
The Daniel Group, a B2B customer experience improvement leader, introduces the CX Institute, offering training and coaching to enhance CX programs. This initiative aims to bridge theory and practice in CX by leveraging insights from over one million surveys. Three programs have been launched: CX Program Leader Certification, CX for Executive Teams, and CX for Frontline Managers. The Institute complements The Daniel Group’s to provide services that help improve customer experience.
We know you can expect NPS growth when your dealers buy into improving Customer Experience. How do we know this? Since beginning our ExperienceConnect CX program, we have completed over one million customer surveys with B2B industrial customers. We started work with our first dealer in 2005 because management wanted to (1) know what customers thought about their service and (2) identify ways to improve it. Following are some things we have learned.