What Does CX Mean and How Do You Measure It?

The term ‘CX’ is used across many different organisations and industries. But what does CX stand for? 

CX stands for customer experience and is the key to a successful business. Without customers, businesses wouldn’t exist, which is why good CX is so important.

Throughout this blog, we will explore everything you need to know about customer experience (CX), how to measure it and what you can do to improve it. For more information, read on!

Understanding Customer Experience

As briefly mentioned before, CX is short for customer experience, and it refers to a customer's journey from the very start to the end.

This includes their very first phone call, their experience with your business all the way up to when a sale has been made.

Even if a sale doesn’t go through, it is still important to prioritise CX to ensure you maintain a good reputation and positive word of mouth.

Good customer experience is what keeps businesses running. This is why it is so important to prioritise CX to make sure that customers are happy with your service. 

A happy customer means that they are more likely to recommend you to their friends or family, therefore increasing brand awareness and loyalty. But how can you improve CX? Keep reading to find out!

How Can You Improve CX?

Providing all your customers with good CX is important, however, it can be challenging, especially trying to maintain a good customer experience at all times. 

Many businesses that grow rapidly can often let their CX slip without realising it. This can have negative effects on many businesses by reducing customer satisfaction and increasing negative word of mouth. Remember, quality over quantity!

Here are some ways you can improve CX:

1. Don’t take customer loyalty for granted: Customer loyalty can be hard to retain, which is why it is important to recognise your loyal customers and reward them with offers.
2. Personalise CX: Every customer is different, so what works for one person may not work for another. Make sure to personalise CX for different customers.
3. Make the most of feedback forms: Offering feedback forms for your customers to fill in shows that you care about your customer's opinions.
4. Always update customers: Don’t keep your customers in the dark. If you don’t communicate with your customers, they may become frustrated.
5. Make sure you have enough staff: Having enough staff is important to ensure all customers are seen quickly and efficiently.

These are just some of the many ways you can improve the customer experience. 

How Can You Measure CX?

There are many ways that you can measure customer experience, such as surveys, a net promoter score or a customer effort score (CES). Here are three ways you can measure customer experience:

1: Conduct Surveys

One way that you can measure CX is by conducting surveys. This allows you to gain insights into what you are doing well as a company and what you can do better.

Surveys can be tailored to suit your business, which is ideal if you want answers to certain questions.

Below is an example of what a customer survey looks like. All surveys are different.

For example, you may decide to change the scale to 1-5 or change the question to something else. Remember, this is just an example of what a CX survey looks like.

Make sure to tailor your surveys to suit your customers and your business. Utilising surveys allows you to understand your customers better and pinpoint your pain points.

2: Net Promoter Score (NPS)

A NPS allows you to see how loyal your customers are to your business. This measures customer loyalty from just one simple question: ‘how likely are you to recommend [your product here] to your friends/ family?’

Customers will then provide you with a rating between 1-10 (10 being the highest). Although this is similar to a survey, it is not the same. From here, you will then use the following formula: 

• NPS = % of promoter - % of detractors

The ratings that customers provide you with will be placed into different categories.

For example, ratings of 9-10 are placed under the promoters category, 7-8 under the passive category and 0-6 are classified under the detractors category.

3: Customer Effort Score (CES)

A CES measures how much effort a customer has to put in to interact with a product or company. When people buy a product or interact with a business, they want it to be straightforward and require minimal effort... I know I do! 

Usually, CES surveys ask questions, such as ‘how easy was it to handle your issue with [your company name]’?

These questions allow you to understand how easily customers navigate your business. If customers feel that your business is too complicated to navigate, then you risk losing customers.

Why is Customer Experience Important?

Now that you have a better understanding of what CX stands for and how to measure it, let’s discuss why customer experience is important. Here are some of the many reasons why CX is important:

• Good CX can help a brand stand out from its competitors
• It can increase positive word-of-mouth
• Good CX can increase brand awareness

As you can see, providing customer experience at all times is important to keep businesses running and maintain customers. 

Failing to provide good customer service can seriously harm your business reputation, causing you to lose customers, lose out on sales and increase negative word of mouth.

It is important to remember that customers are the reason behind the success of businesses so make sure to provide excellent customer service at all times.

Improve CX With MaxContact

Here at MaxContact, we offer a wide range of services to help you improve your customer experience, such as customer feedback collection, trend identification, performance tracking, and real-time analytics.

Our customer feedback collection service allows businesses to collect customer feedback and track customer satisfaction in real-time. 

We also offer trend identification platforms, which allow users to quickly identify long-term trends through customer feedback and satisfaction surveys.

So, if you are looking to improve CX and increase positive word of mouth, we have a wide range of services for you to choose from. 

For more information on how you can improve your customer experience or to speak to a member of our team, don’t hesitate to contact us today. We look forward to hearing from you!