Marketers in both B2B and B2C sectors view optimizing customer experience as one of the biggest opportunities for this year, but how are they measuring the success of their customer experience efforts? A recent Ascend2 survey [download page] of roughly 300 B2B and B2C marketers looks at just that. Here’s what they found.
About two-thirds (65%) of respondents say that customer retention rate is one of their most effective metrics to measure customer experience improvements. The same percentage of respondents also say that customer satisfaction is another metric they find to be effective.
Two-fifths (41%) of marketers report that another metric they find effective is customer lifetime value. Surprisingly, a study by Econsultancy and Redeye found that only one-third (33%) of the respondents they surveyed said customer lifetime value was a KPI they measure and report on.
To a lesser extent, respondents also indicate that visitor intent/completion (26%), likes/comments/shares (23%), net promoter score (14%) and customer effort score (12%) are effective metrics for measuring customer experience improvement.
For the marketers surveyed, improving customer retention/satisfaction (79%) and increasing value/reliability to users (58%) are not only primary objectives but also the most critical challenges (61% and 54%, respectively). In an effort to achieve these and other challenges intended to improve the customer experience, respondents say their most effective tactics include customer feedback collection (57%), content personalization (45%) and social media engagement (38%).
A relatively small percentage (28%) of respondents say that they find customer journey mapping to be one of the most effective tactics used for improving customer experience. This could be because marketers find that mapping out all the elements of the customer journey is one of their biggest customer experience challenges. Nonetheless, other data shows that the majority of high performing customer experience professionals use customer journey mapping as part of their customer journey strategy.
To read more, download the full report here.
About the Data: Ascend2 surveyed 301 marketing influencers during the week of September 9, 2019. Respondents represent B2B (40%), B2C (39%) and B2B/B2C equally (21%) organizations.