What Matters in CX Measurement
Most CX measurement programs create big databases that cry out for analysis. Driver analysis is a highly effective tool to help figure out what’s really important to meeting your goals for satisfaction, retention, loyalty. Driver analysis is especially useful to sort out: What matters the most in improving CX? What are table stakes you cannot ignore? Where do you need to excel to improve customer satisfaction? Where can you reduce or maintain your efforts to save resources? Where are the meaningful differentiators against your key competitors?
Digging deeper into your existing CX data with advanced analytics can help you answer these questions by delivering these benefits:
- Break down silos. Impact Modeling builds CX consensus across your organization by including everyone, from customer-facing employees to new product development, to CX management. Uniting your various CX measurement streams creates a unified approach.
- Save money. Impact Modeling saves money by maximizing your existing measurement programs before creating new programs. By reanalyzing data you already own, your can learn where to focus additional research objectives.
- Increase efficiency. Impact Modeling creates focus and efficiency by identifying what’s most important to the customer, letting you create programs that drive improvements in loyalty.
- Focus on success. Impact Modeling brings frontline staff perspective to strategy and ties strategy to operations. By clarifying the link between operations and desired business outcomes, impact modeling hones your organization’s focus on business success.
Conducting a Driver Analysis against competitors can create a unique understanding of market dynamics. This critical outward and market focus is different from most CX program measurements that focus on inwardly focused measurements.
Competitive driver analysis can help you:
- Find the white spaces, the competitively neglected touchpoint, the sweet spot for your brand. By identifying unique differences that set your brand apart – while improving your customer relationships – can solidify your benefit against the competition.
- Understand the relationship between people’s brand beliefs and what they expect you to deliver in CX to continually strengthen your brand.
- Identify competitive differentiation, advantage, and parity.
Sometimes, we need to get above the trees to see the forest, and competitive driver analysis does that to show you the totality of the Customer Relationship with your brand. An enterprise-wide view of CX can encourage cooperation between departments and reduce functional silos and improve corporate culture by focusing everyone’s energy and commitment on the same vision.
Everyone is busy, busy, busy and with time at a premium, neither headquarters’ teams nor the frontline staff has time to work on everything. They also don’t have time to work out what is important vs. just a lower score than average. Advanced analytics customized to make the most of your CX data can do the heavy lifting for you.