Customer Experience (CX) Metrics and Key Performance Indicators

https://www.oracle.com/us/products/applications/cx-metrics-kpi-dictionary-1966465.pdf

 The CX value equation

o CX = A + R + E
o Acquisition refers to the ability of an organisation to increase its customer
base
 Generate more opportunities
 First challenge of acquisition
 Generated through increased traffic
 Additional sale opportunities
 Benefits from having a respected brand, visibility and creating
great customer experience
 Increase brand equity
 Builds corporate value
 Influences key sales
 Increases average value of an order
 Improve customer conversion rates and drive higher revenue
 Increase market share
 Provides sustainability, growth, pricing power
 Better overall financial position
o Retention is the ability of an organisation to keep and grow the customers it
already has, reduce churn and increase life-time value
 Increase share of wallet
 Drives higher profit
 Expansion of sales to each customer
 Drive loyalty
 Drive advocacy
 Beyond loyalty
 Consumer advocate is one who tells their friends etc about
this specific company/service
o Efficiency allows an organisation to do more with less
 Increase economic value added and return on invested capital
 Both key measures of an organisation’s efficiency
 Increases in these determinants usually displays a
strengthening of a company’s financial position
 Increase productivity
 Labour costs is often the largest incurred cost
 Improving productivity can therefore improve the labour force
 Decrease cost of operations
 These play a critical role in any business

Acquisition
 Strategic KPIs
o Direct Traffic
o Indirect Traffic
o Unidentified Traffic
o Brand Mentions
o Conversion Rate
o Rate of Adoption
o Average Order Value
 Operational KPIs
o Marketing Campaign Effectiveness
o Pages per Visit
o Frequency of Visit
o Items per Order
o Average Revenue per User

Retention

 Strategic KPIs
o Customer Churn Rate
o Net Promoter Score
o Customer Satisfaction
o Customer Effort Score
 Operational KPIs
o Emotion Scoring
o Average Resolution Time
o Uptime
o Channel Accessibility
o Channel Costs

Efficiency

 Strategic KPIs
o Cost of Sales
o Marketing Costs
o Service Costs
o Cost per Interaction / Activity
o Self-Service Rate
 Operational KPIs
o Cost of Acquisition
o Cost of Retention per Customer
o First Contact Resolution
o Average Handle Time
o Initial Training Time
o Content Effectiveness
o Escalation % Assisted Channels