New Study Reveals Leading CX Measurement Strategies Are Moving Beyond NPS

Study by Harvard Business Review Analytic Services in association with Genesys highlights organisations relying on lagging indicators leave blind spots to loyalty loss scenarios, outlines path to clarity.
A new study released today from Harvard Business Review Analytic Services, in association with Genesys, a global cloud leader in customer experience orchestration, reveals the strategies of organisations setting the standard for customer experience (CX) measurement and understanding where loyalty is lost and won along the customer journey. These organisations demonstrate that a clear view into the moments that matter most to customers is now possible through a technology-enabled, people-centric measurement approach. Companies implementing this strategy will be better informed to take action to improve overall experiences and drive customer loyalty.
In contrast, companies stuck in a company-centric approach focused primarily on traditional metrics like Net Promoter Scores (NPS) will struggle to deliver great customer experiences and find themselves at a competitive disadvantage that could disrupt their success indefinitely.
For nearly two decades, NPS has been widely viewed as the defining metric for measuring customer experience. Yet, NPS and other measurements typically happen after a customer transaction, such as the close of a sale or at the end of a service call. And they mostly focus on the efficiency and effectiveness of the business, rather than the quality of the customer experience. This limits opportunities to understand nuances of a customer’s holistic experience, including their preferences, priorities and friction points.
According to the study, 81% of organisations believe being able to measure CX along key points of the customer journey is important to their organisation’s business strategy. Instead of relying on tools that provide limited visibility, leading organisations are turning to advances in data analytics and machine learning to measure earlier and throughout the customer journey — equipping them with insights needed to create more fluid experiences for customers.
“While NPS can provide a valuable snapshot into the customer experience, today’s technology provides opportunity for a deeper understanding of which aspects of an experience enhance or limit long-term relationships between customers and businesses,” said Peter Graf, Chief Strategy Officer at Genesys. “That’s why Genesys is pioneering new ways for organisations to understand what their customers are trying to tell them about their experiences through the data they leave along their entire journey. It is those insights that organisations can leverage to action the path to creating empathetic experiences that breed trust, loyalty and, ultimately, a competitive advantage.”
Technology and data analytics tools are quickly advancing measurement capabilities, enabling organisations to understand experiences at key moments in the journey. To access these valuable learnings, more organisations are adopting these tools; 54% of organisations are moving to digital technology to automate efforts to collect customer feedback over the past 18 months, according to the study.
Leaders in measuring CX are the most likely to use the newest technologies like predictive analytics and artificial intelligence (AI) to track metrics and identify actionable insights. And these strategies are paying off — 65% were more adept in linking CX metrics directly to business outcomes than those in the middle of the pack (29%) and laggards (8%). Technology’s ability to help companies identify pain points along the customer experience greatly expands the opportunity to make each experience more fluid while improving customer satisfaction and building loyalty.
Highlighted Study Findings:
- More robust measurement strategies are driving better customer experiences. Ninety-one percent of organisations using a wider range of metrics and technologies to measure the customer experience are driving better CX today than a few years ago. Only 39% of those with the most limited strategies and tools have seen similar results.
- The majority of organisations face unnecessary blind spots in the customer experience. Only 28% of organisations say they have a very good understanding of customer experience sentiment across all phases of the customer journey. Notably, a third responded to a lack of understanding of customer satisfaction in the critical pre-sale phase of the journey.
- Improving the customer experience is a priority and budgets are reflective. Sixty-five percent of executives included in the study shared that improving the customer experience is a high priority for their organisations; 58% of organisations are increasing budgets for CX measurement to drive better results.
- Organisations are slow to embrace AI and predictive analytics as measurement options. Despite advancements these technologies provide, such as detailed insights into employee-customer interactions, real-time sentiment analysis and insights into customer intent, they’ve yet to be widely adopted. More than 80% of organisations haven’t added these powerful technologies to their measurement toolkits, leaving vast opportunity undiscovered for driving desired business outcomes.
Please login with linkedin to comment
Customer ExperienceLatest News

Three Customer Retention Strategies That Can Help Australian Businesses Build Long-Term Loyalty
In this opinion piece, Patrick Sim, senior vice president for the APAC and MEA regions at Epsilon (pictured above), talks about ways companies can go about building lasting relationships with their clients. If there’s one thing that companies have learnt from the pandemic is the importance of keeping customers happy and having them continuously come […]

Meta Says There Are ‘Serious Times Ahead’ For Its Workers
Everyone's CFO says the exact same thing after he finally finishes shredding tax documents.

“Call Me Bruh!” Kanye West Threatens Legal Action Against Aussie Burger Joint
The temptation to make a gold digger joke here is strong, but thankfully we aren't witty enough to think of one.

Your Wish Is Our Command! More Time To Enter Best Of The Best Presented By Finecast
Think your better then everyone? But, it's awkward to bring up in meetings! We have the outlet for you.

The Growth Activists Help Bassike Reach B Corp Status
In exchange for helping bassike reach B Corp, TGA expects free invites to the inevitable party celebrating the status.

Enero Announces Two Key Acquisitions In ROI DNA And GetIT
It's very challenging to take Enero group seriously when their ASX tag is literally just 'EGG'.

Seven Moves To Terminate Broadcasting Partnership With Cricket Australia
Imagine not wanting to show a full season of cricket where each game can easily go on for around four hours!

New Study From Redcat And Impact Data Finds Customer Marketing Sweet Spot
The study makes no mention of how many times you can drunk dial a customer before they start blocking your number.

Thursday TV Wrap: Leigh Sales Farewells 7.30 With 572,000 Eyeballs Watching
With Sales signing off, Tracey Grimshaw might now be the offical Queen of blazers and looking slightly concerned.

Charlie Short Appointed As Head of Growth At Revolut Australia
Revolut appears to have gotten most of the way through revolution and then given up right at the conclusion.

Transforming C-Suite Leaders into Empathy Officers Can Deliver Unmatched Business Success
If your management style is modelled after Cruella de Vil. You can keep your coats, but you should try being nicer.

News Corp Australia Increases Its Investment In Medium Rare Content Agency
Much like betting on horses, News Corp realises that since they're in for eighty, they may as well be in for a hundred.

“Bittersweet!” Nelson Aspen Hands In His Two Week Notice To Sunrise
Aspen now calling in sick, stealing office pens and finally telling the cash cow what he really thinks of him.

Non-Alcoholic Brand Lyre’s Goes Live With ‘Make It A Lyre’s’ Campaign Via The Kinetic Agency
Non-alcoholic is a term guaranteed to cause moans in the B&T team, but the animals in the ad are cute, so this one's ok.

Social Motive Gives Tangle Teezer Australia A Fresh New Do On Social Media
Social Motive could have been the name for a new branch of the climate change awareness movement. Missed opportunity.

InMobi Integrates Mobile Supply With Yahoo’s Demand-Side Platform For Direct Advertiser Access
It seems like the good people at InMobi have finally decided to go all Yahoo on us.

From “Little Things” Big Change Happens; NSW Government’s Multi-Partner Media Campaign Via UM
Here at B&T we like our medical advice from our footy stars and our spiritual advice from our reality stars.

“Very Proud!” Neighbours’ EP Jason Herbison On Saying Goodbye To Ramsay St
Neighbours will be there for one another! Until someone makes a noise complaint then Grimshaw gets a call.

First-Ever D&AD Shift With Google In Sydney Ends With Showcase By Google, Adidas And Kua
We can only assume the Sick Bay mural is more Banksy inspired than Pepper Pig. Though the pig has more cache than Banksy

It’s Not Too Late To Apply For The Shopping Category At The Australian Impact Awards Powered By Wavia!
Think you've missed your chance at fame, glory and Linkedin bragging rights. Think again.

Dynata’s Latest Economic Crossroads Report Shows Consumer Trends From Around The Globe
Across the world, rising costs are causing anxiety and financial struggles for consumers. The worldwide impact of inflation is affecting their outlook and behaviour. More than half of consumers globally are struggling financially because of inflation and the increasing price of fuel, housing and everyday goods. Russia’s war on Ukraine intensifies their concerns around supply-chain […]

InMoment Bring Major Updates To Their XI Platform For Greater Customer Experiences
Making people's lives easier one update at a time. Because nowadays it's all about accessibility, right?

US FCC Commissioner Wants Apple And Google To Take Down TikTok From Their Stores
Anyone who wants to ban TikTok clearly doesn't understand how cool Anna Paul is.

Fullbright Scholar Teams Up With CQUniversity For New Opportunities In Queensland
It's nice to know the Sunshine State might finally be using said sunshine for something productive.

“Talk About Soft!” Mark Levy Blasts The Project Over Interview With Climate Change Activist
The world is actually burning, but sure let's be mad at the protestors.

Best Of The Best Judge, Ben Pellow Nabs Group Sales Director Role At Forbes Australia
Here at B&T, we love to remind you about all the fancy friends we have. Mainly because they never cop to it in public.

Visit Victoria And Endemol Shine Australia Announce New Partnership
The new series will allow Sydneysiders to appreciate Melbourne from their couches, just the way we like it.

Sydney Set To Host South By Southwest Festival For 2023
This comes as part of a wider plan to steal Texan culture, with Sydney set to take on plentiful Cowboy boots and rodeos.

Nine’s Big Dog Mike Sneesby Announces EOFY2022 Bonuses For Permanent Staff
Bonuses were decided after staff declined MAFS merch as a thank you.

Tony Armstrong Reveals The ABC’s Reaction To His OnlyFans Account
Armstrong proving that even a Logie can't save you from boring meetings with your bosses.

Wednesday TV Wrap: MasterChef Owns Demos But Nine Dines Out On The Night
Thank you MasterChef for normalising cooking while crying.

FutureBrand Australia Grows, Makes Two Senior Appointments
Bringing the "future" to Australia's business industry.

Sedona Lands Cinnamon Darvall As Executive Producer
If Sedona can acquire some Milk, Eggs and Flour as well, they'd be on their way to a nice crepe recipe in the C suite.

Jaywing And Frank Digital Nab Rai Campbell For Commercial Director Role
Campbell will be called to drive the Jaywing to success. That's not a phrase out of a sci-fi series by the way.

Are Media Launch Body Positivity Initiative ‘BODFest’ With OGX Haircare
Cause there's nothing that will make you feel better about yourself than seeing Em Rata on stage.

Quantcast Launches New Advertising Solutions For Marketers
With the rate at which Quantcast is attempting to solve problems, Ariana Grande and Iggy Azalea may need to get in touch