3 Metrics to Measure Customer Happiness
[04:57] The best way to identify recurring issues or pain points
[08:56] How to get your customer satisfaction score
[11:03] How to get your customer effort score
[13:09] How to calculate your customer lifetime value (Live illustration)!
Let's face it – your customers are the lifeblood of your business.
Without them, you don’t have a business. So, how do you gauge their satisfaction?
This is where customer experience (CX) measurement steps in. By meticulously tracking customer interactions, you open the doors to a treasure chest of insights illuminating what's working and what needs attention in your customer journey.
Turn those rough patches into triumphs and create an experience that genuinely delights your customers and gives them what they really want. That, my friend, is where the true magic of business success lies.
Retaining existing customers often costs less than acquiring new ones. Latest figures show it’s about 70% more cost-effective. How? Well, it begins by tuning in to even the faintest signals of dissatisfaction.
But it's not just about surface-level smiles; it's about setting concrete benchmarks. Remember, what gets measured gets done. If you've been in the business game for a while, you understand that warm and fuzzy feelings aren't enough. Tangible targets drive tangible results – especially when you're leading a team. The same applies to experiences. Concrete goals propel exceptional experiences and yield tangible outcomes.
In this very special video podcast episode on Spotify, I share three ways you can decipher the emotions and preferences of your customers and measure their overall happiness:
- Customer lifetime value
- Customer satisfaction scores
- Customer effort scores
High CX scores and revenue boosts go hand in hand. Happy customers become your brand's advocates. They become repeat buyers, willing to pay a premium for an exceptional experience. Elevating your CX can genuinely transform your business's financial outlook.
So, tune in to the video episode of Episode 41 on Spotify, where I'll guide you through calculating your customer lifetime value. Join me as I break it down on a whiteboard, illustrating the exact steps for you to follow!
(P.S. If you're itching to roll up your sleeves and dive deeper into the gold mine we've unearthed today, download a free copy of our customer journey map checklist to accompany it. This checklist is what has guided my business to success.)