Temkin Group Publishes New Research Report Revealing that Customer Experience Programs Suffer from Poor Metrics "The State of CX Metrics, 2012" is firm's second annual study of 200+ large companies
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.
The report "The State of CX Metrics, 2012" can be downloaded from the Customer Experience Matters blog, at ExperienceMatters.wordpress.com as well as from the Temkin Group website, www.TemkinGroup.com.
About Temkin Group
Temkin Group is a leading customer experience research and consulting firm with one simple goal for its clients: increase customer loyalty by becoming more customer‐centric. The company combines customer experience thought leadership with a deep understanding of the dynamics of large organizations to help senior executives accelerate their results. For more information, contact Bruce Temkin at 617-916-2075 or send an email to firstname.lastname@example.org.
About Bruce Temkin
Bruce Temkin is widely recognized as a customer experience thought leader and is Customer Experience Transformist and Managing Partner of Temkin Group. He is also the author of a very popular blog, Customer Experience Matters® (ExperienceMatters.wordpress.com). Prior to forming Temkin Group, he was a VP at Forrester Research for 12 years. Bruce is a highly demanded speaker who consistently receives high marks for his content-rich, entertaining keynote addresses. He is also the co-founder and Chair of the Customer Experience Professionals Association (CXPA.org), a global non-profit organization dedicated to the advancement of customer experience management.
Net Promoter, Net Promoter Score, and NPS are trademarks of Satmetrix Systems, Inc., Bain & Company, Inc., and Fred Reichheld. Customer Experience Matters is a registered trademark of Temkin Group, LLC.
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SOURCE Temkin Group