Temkin Group Publishes New Research Report Revealing That Customer Experience Programs Suffer From Poor Metrics
WABAN, Mass., Dec. 11, 2012 /PRNewswire/ -- Temkin Group, a leading market research and consulting firm that helps organizations improve their customer experience, released a new research report: " The State of CX Metrics, 2012." The study shows how large companies are using customer experience (CX) metrics and how the effectiveness of these efforts has changed since last year.
The research found that companies with stronger CX metrics programs are more likely to be customer experience leaders and to outperform the business results of their competitors. While these efforts are seen as important, only 11% of respondents received "good" ratings for their CX metrics program. Companies have not shown any improvement in these ratings since Temkin Group's study in 2011.
" Companies focus on what they measure, so it's important that their CX metrics point them in the right direction. Unfortunately, very few companies are doing a good job with their CX metrics," states Bruce Temkin, Customer Experience Transformist & Managing Partner of Temkin Group.Temkin Group's assessment of CX metrics examines four areas: consistent (does the company use common CX metrics across the organization), impactful (do important decisions consider the CX metrics), integrated (are trade-offs made between CX and financial metrics), continuous (do leaders regularly examine the CX metrics). Here are some of the other findings from the research:
- Companies with stronger CX metrics programs are almost four times as likely to deliver customer experience that is considerably above average in their industry.
- Companies are increasing their use of metrics focused on likelihood to recommend (including Net Promoter ® Score) and ease of doing business.
- Only 11% of respondents think that their company mostly integrates CX and financial metrics, and it's down from 13% in 2011. Also, only 35% of companies consider CX metrics in many of their important decisions.
- About 40% of executive teams review CX metrics at least monthly, which is about the level we found last year.
- Fifty percent of companies use common metrics across most of their company, an increase from 43% last year.
- Over half of companies feel good about their measurements of phone and online experiences, but only about one-quarter of them feel that way about measuring mobile and cross channel experiences.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV