How to create a cohesive Product Experience management program 01

CUSTOMER EXPERIENCE

How to create a cohesive Product Experience management program

SHARE THE ARTICLE ON

Most businesses and organizations are working to ensure a positive Customer Experience. Product Experience (Product X) is an essential component of the same, and one cannot have a holistic CX program without first ensuring an excellent Product X for their customers. According to a study, 80% of SaaS features go virtually unused, costing an estimated $30 billion in wasted R&D, which results in sub-optimal customer experience. 

Irrespective of their vertical or industry, businesses have had to adapt to the effects of global lockdowns and social isolation. We’re not sure how long the new normal is going to last, and businesses have had to tailor their Product Experience accordingly.

Providing your customers with the best user experience possible is one of the key differentiators in an oversaturated market – which is the case for several products.

Why is getting your Product Experience right important?

Product experience can help you distinguish your brand from your competitors, driving customer loyalty, increasing product usage & enhancing your Customer experience.

You can read how Netflix’s focus on Product, Employee and Customer Experience has helped them become the leading provider of OTT content.

How to create a cohesive Product Experience management program 02
Creating a cohesive Product Experience Management Program

What do you need to keep an eye on to ensure great Product Experience?

Here’s the tricky bit – there’s no single, unified metric which tells you how well your ProductX is faring. There’s several attributes you need to keep an eye on at multiple touchpoints of your product’s lifecycle. The effects of a positive Product Experience can be seen in CX as well. 

Here’s what you need to track to gauge your overall Product X:

  • Usage Metrics
    These are statistics on how users are interacting with your product. They can include how often they use it in one go, what time of day/week or month they’re using it the most, if they’re using your in built FAQs or user help mechanisms and user retention as well. These metrics vary from vertical to vertical and can be completely different for hardware, software and services. 
  • Product Metrics
    These can vary depending on your product or service, but they typically cover your products attributes which a user would tend to notice. For software, these usage metrics can be Latency, Initial Load Time, Uptime etc. For something like a car, it could be service intervals
  • Satisfaction Metrics
    There are multiple customer satisfaction surveys available which allow you to directly ask your respondents about various aspects of your products or services. These surveys can provide you with insights you can use to further improve your product experience.

    NPS (Net Promoter Score)
    NPS Surveys ask users two simple questions. “How likely are you to recommend our product or service to a friend?”, with the answer ranging from 1-10, and “Why did you give us that score?”. These surveys are crucial for identifying detractors and promoters of your product.

    CSAT (Customer Satisfaction)
    CSAT surveys are a useful tool for determining customer satisfaction with your brand at multiple touchpoints. It can be different aspects of the product like battery life, of quality or look and feel. It can also be about their experience with touchpoints like customer support or presales.

    CES (Customer Effort Score)
    CES Surveys are effective at discerning how much effort a customer had to exert to accomplish their desired task relating to your product or service. Customers are asked questions like “How easy was it to do task A?”, and have to choose their response from a set of pre-defined options. CES surveys are a valuable source of insights to improve your product’s performance, as well as the ease with which customers are able to use your services. You want to score as highly as possible on these surveys.
  • Adoption and Ecosystem Metrics
    Adoption metrics show how users are taking to your services. They factor in attributes like active users and can help you identify if features or attributes of your products are being used in the ways you hoped.
    Ecosystem metrics help you identify the macro state of the product within the domain in which it operates. It can be gauged by measuring market share within target segments and other attributes which are relevant to your industry.
    These could be share of wallet, 3rd party integrations, industry rank, market share within target segments, free-to-paid conversions or active users.
  • Outcome Metrics
    Your product experience can be excellent, but it needs to help in delivering positive outcomes for your business. These are overall revenue, revenue per user, active users, market share etc. A holistic Product X has a positive impact on these metrics, as it reduces customer churn and increases promoters for your brand.
Voxco is trusted by Top 50 Market Research firms, Global Brands & Universities in 40 countries. Voxco offers full omnichannel capability including CATI, Predictive Dialler, Online surveys, offline CAPI, and Panel Management.
Sidhant

Sidhant

Sidhant Shori is a Content Marketer at Voxco. He's got a Bachelor's degree in Computer Science Engineering and leverages his interest in market trends as well as his experience in creating content. He's also a Sci-Fi geek and enjoys video games and movies and also likes reading thrillers.

TAGS : 

Read more

Shopping Basket
Great Research
Fast Insights
Best-in-class ROI

Voxco’s platform helps you gather omnichannel feedback, measure sentiment, uncover insights and act on them.

Join 500 + global clients across 40+ countries

Great Research
Fast Insights
Best-in-class ROI

Voxco’s platform helps you gather omnichannel feedback, measure sentiment, uncover insights and act on them.

Join 500 + global clients across 40+ countries