More advanced analytics: 3rd step required to radically rebuild CX
Today, I want to talk about the importance of more advanced analytics in the radical rebuild of Customer Experience (CX). If you're in the CX field, you know that the key challenge we face is the ability to answer many more business questions beyond just "What's the score?"
Let's go way beyond remedial
It's time to take CX analytics to the next level. Currently, we rely on tracking metrics such as NPS, CSAT, Customer Effort Scores, and more, but these metrics only give us a limited understanding of the customer experience. Think about hospital surveys, for example. They might ask about the food and the friendliness of the staff, but they rarely ask about the outcome of the patient's surgery, which is what truly matters. Such research is usually designed to produce internal performance scorecards, rather than to improve what really matters to customers.
That's why McKinsey found that only 16% of CX leaders believe that surveys effectively address the root cause of performance.
What does analytic maturity look like?
Here is how we at OCX Cognition see things. The first four steps below illustrate both traditional best practice and the basics of analytics that use operational data for all customers. The following three represent what has now become possible, though very few companies are doing it.
By analyzing operational data covering all customers, we can answer crucial questions such as:
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The good news is that these questions are now easily answerable with the latest AI-based analytics. So, let's move forward and embrace more mature analytics in our quest to rebuild CX. There is no reason not to get moving now. You know who to call.
Seeking leaders for the predictive CX revolution
Our webcast on radically rebuilding CX was our best- attended so far. Of course the steps Richard Owen outlined make a lot of people uncomfortable. We need innovative people to lead the way. Hence the title of our next webinar on February 15th: Seeking Leaders for the Predictive CX Revolution. Register here.
Notes
OCX Cognition predicts customer futures. Our breakthrough SaaS solution, Spectrum AI, lets enterprises transform what’s possible in customer experience. Reduce your customer risk, break down silos, and drive speedy action – when you can see what’s coming, you can change the outcome. Building on more that 15 years of CX-focused expertise, we’ve harnessed today’s advances in AI, elastic computing, and data science to deliver on the promise of customer-driven financial results. Learn more at www.ocxcognition.com.
Maurice FitzGerald is a retired VP of Customer Experience for HP's $4 billion software business and was previously VP of Strategy and Customer Experience as well as Chief of Staff for HP in EMEA. He and his brother Peter, an Oxford D.Phil in Cognitive Psychology, have written three books on customer experience strategy and NPS, and a fourth book that focuses on Peter's cartoon illustrations for the first three. All are available from Amazon.
The author can be reached here on LinkedIn or at maurice.fitzgerald@ocxcognition.com. Please let me know what you think and what sort of content you would like to see here.
Associate Professor, Project and Programme Management, University of Limerick
2yExcellent insights as usual. I guess a key thing to analyse is who's actually complaining.. "One person filed almost 23,500 complaints about Dublin Airport last year. In total, 90 per cent of all complaints about the airport during 2022 were made by a single local resident. The unnamed serial complainer racked up 23,431 grievances over 12 months, which equates to an average of 64 daily incident reports being recorded" so you may not have a systemic problem but an issue with one person/company..