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CX Strategy & Management Hub

Delivering a great customer experience is the key when it comes to engaging customers. A successful CX strategy makes it possible. We have put together a collection of unique Customer Experience (CX) Management articles and guides to enable you to ideate, manage, and analyze your Customer Experience programs. 

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Customer Experience

How to gain Customer Experience Insights that matter

Delivering a successful customer experience helps businesses improve customer satisfaction, boost revenue, and achieve a competitive advantage. Here we discuss how businesses can use customer experience management (CEM) data to derive insights. 

READ TIME 5 min

Voxco is a pioneer in providing market research tools to businesses. With various online survey tools and leading survey software, Voxco enables organizations to gather the data they need to grow.

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Successful CX Strategy

How Apple won at Customer Experience to become the world’s most valuable company

Learn how Apple delivered great experiences to engage customers globally.

READ TIME 5 min

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The Voxco Guide to Customer Experience ​

Businesses, organizations both public and private across verticals and geographies are investing in Customer Experience (CX) Management with a laser like focus. Why is that? How could listening to the Voice of the Customer have such a big impact?

To craft a holistic CX strategy for your brand, you need to take several aspects into account – mapping customer journeys, identifying the right customer experience metrics for your needs, and even employee experience.

We’ve compiled a guide to help you create the best Customer Experience Management program possible. 

Read the guide

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CX Metrics

Key Metrics that Matter for Customer Experience

Learn which metrics matter while measuring the effectiveness of a customer experience program. 

READ TIME 5 min

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The Voxco Guide to NPS®

Customer loyalty plays a significant role in business performance. By measuring and improving Net Promoter Score® (NPS®) at every touchpoint, Voxco’s best-in-class survey solutions enable you to seamlessly transform feedback into growth. Leverage our exceptional CX strategy to increase promoters, retain passives, and reduce detractors for your business.

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Empower your CX with Voxco

Turn customer touchpoints into positive experiences using powerful logic-driven surveys
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What is Customer Experience?

Customer experience, popularly known as CX, represents the customers’ holistic perception of a business or brand. In other words, it is the result of every interaction that occurs throughout all the aspects of the customer’s journey.

Gartner defines customer experience as the customer’s perceptions and related feelings caused by the one-off and cumulative effect of interactions with a supplier’s employees, systems, channels, or products.

Why is Customer Experience (CX) important?

73% of companies with above-average customer experience perform better financially than their competitors.

96% of customers say customer service is important in their choice of loyalty to a brand. 

A satisfied customer contributes 2.6 times more revenue than a normal customer and 14 times more revenue than a dissatisfied customer.

At every touchpoint, customer experiences the company offerings in terms of service & product. Customer Experience drives customer satisfaction which in turn leads to customer loyalty and increased customer lifetime value.

How to measure Customer Experience?

Customer Experience can be efficiently tracked by CX metrics and gathering feedback from the customers at every touchpoint and channel of interaction.

Along with the CX metrics, the organizations should: 

  • Create an integrated measurement tool focused on multiple touchpoints
  • Benchmark Against leaders and competitors 
  • Keep updating the measurement methodology with time 
 

What are Customer Experience Metrics?

CX metrics help organizations to:

  • Understand the past behavior of the customers
  • Validate whether the current CX program has led to improvements
  • Anticipate customer behavior to set future goals

The most common CX metrics are : 

NPS® is one of the most widely used metrics that help to identify if your customers are promoters or detractors. It involves asking 2 questions to a customer

  • “How likely are you to recommend us to a friend or colleague?”
  • “Why did you give us that score”.

However, the latter question can be considered optional.

CSAT or Customer Satisfaction surveys help to measure a customer’s satisfaction with a product or service. It’s easy to implement and usually shared just after an interaction with the customer.

The survey contains one question, such as “How satisfied were you with your experience?”
The survey scale can be 1 – 3, 1 – 5, or 1 – 10 and it can be determined after one touchpoint and can be measured along the entire lifecycle of the customer.

CSAT score is represented as a percentage of satisfied customers.

Customer Effort Score (CES) is another extremely popular CX metric that acknowledges the effort a customer had to expend for using your product/service. It involves a question with 5-7 answer choices and the customers have to select one of them based on their experience.

What is Customer Experience (CX) Strategy?

A customer experience (CX) strategy is a sum total of the actionable plans that are intended to define, design, and improve customer experience. As customers interact with a brand at numerous touchpoints, implementing a good CX strategy makes them more loyal and helps to acquire new customers too. For instance, the impeccable customer experience strategy of Amazon (from customer acquisition to post-purchase) has helped it become a legendary brand.

What is the Voice of the Customer (VoC)?

Voice of the Customer (VoC) involves the process of gathering and understanding customer feedback about their experiences with your products and services. It helps to focus on customer needs & preferences and lets you improve products/services accordingly. 

Why is VoC crucial?

89% of companies expect to compete mostly on the basis of customer experience. 

VoC helps you know your customers well, analyze their needs, and hone your products/services into something that they really want. VoC also helps to eliminate any risks involved with the product with quantitative as well as qualitative research. Bringing customers’ voice into action plays a key role in:

  • Reducing churn
  • Increasing revenue
  • Improving customer experience 

Net Promoter®, NPS®, NPS Prism®, and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld. Net Promoter Score℠ and Net Promoter System℠ are service marks of Bain & Company, Inc., Satmetrix Systems, Inc., and Fred Reichheld.

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