When I was in Maui for my honeymoon, my husband and I visited a few local art galleries.

There was one painting we really wanted but we just couldn't afford it at the time (weddings are expensive!). So, instead, I emailed the artist's studio and asked if she had any prints or if there was a payment plan option.

Unfortunately, since neither of those options were available, I told them I'd just save my money and hope to buy it soon.

A couple of months later, the artist herself emailed me and told me she was going to be hosting an art show in a few weeks and wanted to give us a chance to buy the painting before it was put up for sale in the art show.

I was so grateful she remembered us and gave us an opportunity to buy her painting before anyone else.

That was one of the best customer experiences I've ever had.

Spoiler alert: we bought the painting a few days later and now I'm a loyal fan. I know I'll purchase paintings from this artist in the future.

That's why the customer experience is so important -- and why you have to measure it.

The customer experience is the impression you leave with your customers, which results in how they think of you as a brand, and ultimately creates brand loyalty.

In fact, companies that worked on improving customer experience saw a 92% increase in customer loyalty, an 84% uplift in revenue, and a 79% cost savings.

Below, let's review the top metrics you can use to measure your customer experience.

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1. Calculate the net promoter score.

Calculating Net Promoter Score (NPS) is one of the main methods to measure customer experience.

According to Sophia Bernazzani, the head of content marketing at Owl Labs and former editor of the HubSpot Service Blog, net promoter score is "a customer satisfaction benchmark that measures how likely your customers are to recommend your business to a friend."

Your NPS will let you know the percentage of customers that love, are neutral or aren't a fan of your brand.

To calculate this, you'll send a survey to your customers and ask them how likely they are to recommend you to a friend, on a scale of 0-10.

Scores 0-6 are are detractors, scores 7-8 are passives, and scores 9-10 are promoters.

To determine your NPS, subtract the percentage of detractor responses from promoter responses.

With this score, you can instantly tell how many customers are happy enough with their customer experience that they've become ambassadors for your brand.

Once you have that information, you can work on improving the customer experience for those that are passive or detractors.

2. Analyze customer journey analytics.

Another technique to measure the customer experience is to use your analytics to look at the customer journey.

However, before you can gather this data, you'll want to have a complete understanding of your customer journey. If you haven't already, creating a customer journey map is a really helpful way to get this done.

According to Aaron Aguis, a content and social marketer, "This map will be a visual representation of the process a customer goes through to achieve a goal with your company."

A customer journey map should answer questions about customer motivations, needs, and pain points.

Additionally, a customer journey map will help you understand all the touchpoints a customer experiences on their journey. This is how you'll gather customer journey analytics.

Once you understand all the possible touchpoints, you can gather analytics surrounding your customer's experience.

You'll probably want to start with analytics on your social media, ads, website, company events, product reviews, onboarding, customer loyalty programs, emails, and surveys.

Then, you can create a page or tab on your customer journey map dedicated to reporting the metrics of your touchpoints, so you can analyze your customer journey experience.

Doing this should help you answer questions like, "Where are my customers experiencing the most friction?" or "How can I better support my customers?"

This exercise should help you meet currently unmet needs and provide a better customer experience.

3. Conduct customer surveys.

Besides looking at analytics, the best way to understand your customer experience is to talk to your customers. One way you can do this is through surveys.

During various parts of the customer journey, you should send out surveys and feedback forms. It's important to note that not all surveys should be or need to be focused on NPS. You can send out surveys for other calculations as well, including customer satisfaction score -- more on that below.

In addition to NPS and customer satisfaction, you can send out surveys to ask questions about user experience or ask your customers for product or feature requests.

If you're interested in conducting a survey, you can learn how to do so in these 8 simple steps.

4. Determine customer churn rate.

Churn rate is the percentage of your customers or subscribers who cancel or don't renew their subscriptions during a given time period.

While churn is inevitable, it's still important that you learn why churn is happening in your company so you can reduce it as much as possible.

To determine your churn rate, designate a time period and tally up the total number of customers you've acquired and the number of customers who churned during that time period.

Then, divide the number of customers who churned by the total number of customers acquired, and multiply that decimal by 100% to calculate your churn rate.

Jason Bordeaux, an implementation specialist at HubSpot, says "Make sure you're doing a regular analysis of your churned customers so you're identifying if churn rate is increasing or decreasing, the reasons why the customers churned, and what action your team could take in the future to prevent a similar customer from walking out the door."

This metric should help you nail down why customers are leaving.

Is it because of a lack of engagement? A poor user experience? Or perhaps it's a lack of support?

Either way, measuring and analyzing your churn rate should help you improve your customer experience.

5. Interpret customer support ticket trends.

Another metric that can help you learn more about your customer experience is your customer support ticket trends.

Are there recurring issues that cause pain for your customers? If so, try to improve them as they come up.

You might create clearer instructions, explainer videos, or product tweaks because you looked at the customer support trends.

Additionally, other customer support ticket trends to analyze are the amount of time it takes for a customer to get a response from support or average handling time. These analytics can help you improve the customer experience from a customer support perspective.

These trends should help you figure out where the pain points are in your customer experience.

6. Measure customer satisfaction scores.

The customer satisfaction score (CSAT) is one of the most straightforward ways of measuring your customer experience.

Alex Birkett, a growth marketing manager on HubSpot's acquisition team, says "Customer satisfaction score measures customer satisfaction with a business, purchase, or interaction."

To calculate it, all you need to do is send a survey immediately following a purchase or interaction, depending on your business.

This survey will ask "How satisfied were you with your experience?" and provide a corresponding survey scale.

The CSAT is the average score of that survey.

Customer satisfaction is a great way to get immediate feedback on whether a customer enjoyed their experience. If you have a low customer satisfaction score, you can begin to improve the customer experience.

The customer experience can feel very abstract. Although it might seem hard to measure things like brand loyalty, these metrics can help make the abstract more understandable and concrete. Plus, you can only learn how to improve your customer experience once you begin measuring it.

Want more? Check out our guide on customer service and support metrics you should track.

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Originally published Feb 28, 2020 7:00:00 AM, updated February 28 2020

Topics:

Customer Experience