Rolf the obvious answer is customer churn. How many customers leave you because they are angry? Angry at service, angry at cost, angry as the result of poor communication. That’s top line.
And while this scenario is rare, it IS possible to over-invest in service related tools and people that go unused ...having a negative effect on bottom line cost.
So, as with most things, it’s all about balance.
If you want a more complex approach than the good one given by Richard, you can implement a Customer Experience Dashboard, defining the KPIs that go from Operating Culture, Customer Experience, Brand Advocay, Commercial Performance and Financial Returns. Information sources can be surveys, operational SLAs, Social media listening, NPS/CSAT and7or Contact Center Reports. The first element that is required in order to build the CE dashboard, is the CE KPI catalogue and hierarchy, (KPI name and description, calculation formula, periodicity, data source, limitations and owner).
There are KPIs by Journey, but also global KPIs for the complete experience, that are those who drive NPS and CSAT.
This methodology that matches the creation of customer value, will enable the CE champions to prioritize issues and allocate them to the appropriate team or persons across the organization.
Firstly, you need to be able to measure how good your customer experience is (eg through NPS, churn and conversion rate metrics). Then for some sectors, there is external data available on brand equity - how is your brand perceived by your consumers? Once you know how good your customer experience is, you can start of measure the impact. There is no exact science, but in revenue terms, each customer experience iniative targets a specific customer segment. If you can get really granular with your revenue/ product segmentation, you can measure the change vs baseline on the top line. In terms of bottom line, you are looking at the cost to serve. The savings come from fewer touch points with the customer, as a result of more efficient processes. Whilst you can’t measure the specific cost savings from customer experience redesign, you can measure the trend. Hope this helps
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