It won’t be long until Elon Musk creates an army of microchipped chimps that can do calculus, but until then, it’s up to us to crunch the numbers.
In 2024, aside from preparing for the Skynet apocalypse, our top priority as customer service leaders is using analytics to improve CX . You might think this means investing in shiny new (expensive!) analytics tools, but we’ve got good news for you…
First things first
Before we buy anything, understanding which metrics need monitoring is essential to:
- Reveal the strengths and weaknesses in our customer journeys,
- Streamline our operation.
Put simply – which numbers matter?
What data can we collect?
Here’s a breakdown of the KPIs (key performance indicators) we can measure:
| Brand Image | Financial | Operational |
|---|---|---|
| NPS (Net Promoter Score) | Gross margin | Volume per channel |
| Customer Satisfaction | Cost per Acquisition | Abandonment |
| Self-Service Rates | Conversion Rates | Average Handling Time |
| Social Media Listening | Average Transaction Value | Repeat Contact |
| Engagement Rates | First Time Resolution |
With all this data, pouring in from every touchpoint and channel, we’d be forgiven for doing an ostrich impression. But one question can guide us through…
What’s Your Goal?
Sorry to be Captain Obvious, but the answer tells us which figures we should focus on – and which we can ignore. We’re usually asked to reduce one of these factors:
- Agent workload
- Journey time
Tackling both will significantly cut costs, improve CX, and make us seem really clever.
Reducing Agent Workload
From reducing repeat contact, to increasing positive abandonment through self-service, removing workload from your agents often has the knock-on effect of improving:
- CX,
- First contact resolution rates,
- The general vibe.
Shortening the Journey
Data analysis shows that we need to be smooth operators. When a journey is shorter, and involves less touchpoints, it’s more effective. This means:
- High self-serve rates,
- Lower transfer rates,
- Higher customer satisfaction.
How do I use data to improve my customer journey?
At Adexchange we’ve refined a 5-step strategy:
- Agree the key objective
- Identify the key data fields
- Benchmark existing performance
- Draft the solution
- Measure the improvement
Ready to begin your journey to metrics mastery? Find out more here.
