Key Performance Indicators (KPIs) are central to customer experience measurement and management, serving to drive customer-focused action and improved business performance. As a powerful tool for change, organizations need to ensure that their KPI – or KPIs – are right for them. However, what is right for one organization could be too complex, or too simplistic, for another.
Choosing a KPI is not just about selecting an easy-to-answer metric. It needs to be connected to an organization’s bottom line or reflect desirable business outcomes, while the rationale behind the metric should be clear and transparent from boardroom to frontline staff.
In this paper, we explore how organizations can determine the right CX KPIs to drive business performance, with a specific focus on:
- The key ingredients of a good KPI
- How organizations can validate their CX KPIs
- Linking KPIs and real-life business outcomes; ‘Delivering a Return on CX Investment (ROCXI)’
- How to drive action through the right diagnostics
The choice of a KPI is a significant decision for any organization. But, with appropriate consideration and validation, it is a decision that can be made with confidence.
It boils down to one central question: which commercial outcome matters most to a business and does the CX KPI reflect it?