Awards and Benchmarking for CX Success
This month we announced the winners of our annual C.A.R.E. Awards, and in celebration of this, we are focusing on how awards and benchmarking can help you achieve CX success. Here are some great reads by CustomerThink, Temkin and Forbes to get you started:
In this fantastic CustomerThink article, readers can discover some useful dos and don’ts of benchmarking. Common ideas focus on applying benchmarks for your particular business type, instead of aiming for popular strategies. In particular, advice ranges from, “Don’t Copy Strategies of Industry Leaders,” to “Do Set Goals and Adopt Metrics that Create Alignment between Customer Needs, Employee Needs, and Company Objectives.” A key takeaway from the advice, of course, is to not bite off more than you can chew when choosing metrics, and more importantly, to never choose them arbitrarily.
Forbes aptly summarises key findings from Forrester’s annual Customer Experience Index report which benchmarks the CX quality of large U.S. brands as well as the federal government. Readers will learn interesting facts, such as, “58 out of 319 brands had significant improvement in their CX since the third quarter of 2015, and 28 of those brands had significant increases in the last year.” They will also get the author’s own advice on what it takes to become a leading company in the current CX landscape.
This study by Temkin Group measures the NPS of 315 companies across 20 industries. One of the most popular ways to benchmark CX programmes today, NPS is an integral metric for many brands seeking to improve their customer experiences. Key findings in the report include the fact that all 20 industries increased their average NPS from last year, with utilities enjoying the biggest improvement in its score. A detailed and illuminating read, this piece will help you see how industry competition is fairing when it comes to NPS.