Thursday, May 28, 2020

Burning Questions: What is the Best KPI for Measuring CX? [VIDEO]

SmarterCX Team
October 06, 2019

3 minute read

As part of our Burning Questions series, SmarterCX sat down with some of the top CX minds at Oracle’s ModernCX 2019 to discuss what indicators they monitor to understand what their customers are responding to and how satisfied customers are with their experience.

Hear what the CX leaders have to say in our video interviews and read their quotes below.

How many people are getting through the self-service funnel?

There’s so many, I can’t even begin to list how many there are, but when I think about what it is that really comes down to a KPI, it’s what connection has happened across self- service. Where is that self-service occurring, and how many people are you able to put through that self-service tunnel or funnel so they can come in and get the answers? Did you help them?

Through our implementations we’re really looking to see, as we implemented, did we make sure that the customer is getting the support that they need, and then if they fail, do they have a way out? And that means getting to that customer contact channel and getting the right person.

Shana Hughes, Solutions Consultant at Infolexa

Look closely at the unique click-through rate

What we look at is the unique click-through. How many people are actually clicking on something within an email and engaging? We look really closely at that.

We also look really closely within our webinars. How long are they staying with us? Are they just logging on for that first 10 minute, high-level thought leadership part, or are they staying with us through the Q&A?

Emilie Neumeier, Product Marketing Manager at Morningstar, Inc.

Pay attention to customer comments

It’s a blend of things. It’s how often are they contacting our call centers? What are they leaving us for comments? They’re often writing letters personally to us.

Our customers are very loyal, and we’re proud of that.

David Noel, eCommerce System Administrator and Developer, The Vermont Country Store

Consistent metrics from the cloud

It’s easier for us to measure our success now that we’re in the cloud, because we have consistent metrics, and we have a consistent way to measure everybody. We have more real-time access to that information because it’s readily available. We’re not waiting for that call to be completed or that service to be completed.

The KPI that we are really looking at is our Customer Effort Score — it’s really our one main metric.

Traci Scott, Service CX Program Manager, Pella Corporation

How much effort is really spent when interacting with the customer

In the past, we were not talking about customer experience, it was all about customer service. I still think that it’s all about being able to gauge how much effort they’ve really spent when they’re interacting with you or when they’re making their request.

Joyce Surujbhan, Knowledge and Quality Manager, TCL North America

Net Promoter Score as the customer experience metric

KPIs are one thing and we do look at quality scores, we look at average handle time, and all of the traditional ones. But truly the way that we understand our customer experience is that we use Net Promoter Score as our customer experience metric.

What we do is measure our own progress against ourselves and our history of that. Even if someone wants to talk about Customer Effort Score, that’s great. I can tell based on our Net Promoter Scores going up and down, whether we’ve decreased or increased the effort that our customers go through.

Jessica Campbell, Program Manager, Brother International Corporation

Look at your existing customers and their retention rates

I think it’s what we live for. It’s revenue. Because if you think you have flawless customer experience, that’s not generating revenue, it’s really not that flawless at all. But when we talk to revenue, we should really think about it from the perspective of recurring revenue from existing customers and new customer revenue.

If you are losing customers at the same speed that you’re gaining customers, then something is wrong with your customer experience even if the revenue isn’t dropping. When you look at your existing customers, and their retention rates, and their desire to come back for more of your products and services, that’s a good indicator.

Arpine Babloyan, Director of Acquisition Marketing at Verndale

Customer satisfaction and happiness are key

I think the first part is really around customer satisfaction and NPS scores. Those give us a baseline for us to really focus and understand where we are. But there are a lot of other digital imprints that we can see, whether that’s focused on engagement, focused on improved quality of scoring that we get through Eloqua, or one of the products that we use.

And then also from the back-end, it’s really around the retention of our customers. It’s important for us to make sure that our customers are happy utilizing our services and then retained as customers.

Daniel Jay, Director Channel Marketing at Ellie Mae, Inc.

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This transcript may be edited for readability.

SmarterCX Team
The SmarterCX team is comprised of subject matter experts, writers, artists, designers, and CX professionals who are dedicated to building a smarter customer experience. by Oracle is the destination for professionals who are building the next generation of customer experience. Here, you can find breaking news, in-depth analyses, expert insights, and useful tools that will empower you to think and work progressively.