CX Insights – Customer Experience Insights

The goal of every business is a healthy ROI and a better relationship with customers. Every product or service offered by a company is customer-centric, and constant efforts must be made to keep the customers happy. To do this, it is necessary to capture the customers’ behavior, preference, and opinions. This is where customer experience insights (also known as CX insights) come in. The Cx insights refer to information and knowledge gained from the feedback, reviews, and opinion of customers.

What is cx insights?

Every customer of business has certain expectations they hoped and wanted to be met or surpassed when they patronize their brand. The way the business responds to these expectations and offers its products or services will form the customers’ wholesome view of the company. That is, the quality of the products and services form one aspect of the customer experience. On the other hand, the quality of delivery, as well as the relationship with the customer, create the other aspect of customer experience.

Customer insight is useful, as actionable information or data collected from users regarding the quality of product/service and delivery are processed and optimized for business success. Customer insight collects data from users concerning their opinions and experience about the business with the aim of increasing the effectiveness of service and the quality of products offered to the customers, as well as increase the financial benefits of the company. When customers are pleased, managing profit becomes easier.

CX insight is a field that connects the research and marketing field as it takes the two to effectively retrieve, process, and act on information. The method of gaining insight into customer experience is often demanding but ultimately rewarding. This is why an effective CX program is prosecuted by a team with dedicated and focused professionals who can get the job done. If not correctly done, the whole process is as futile as if no feedbacks were received.

How do you gain CX insight?

Gaining CX insight is a process that involves three main steps; a collection of data, processing (analytics), and action.

1. Collection of data: 

Customer experience is captured through the use of Voice of Customer (VoC) tools. VoC tools are software, processes, and programs through which customers can send feedback about their experience in buying a product or service from a business. The experience starts from their point of first contact with the brand until the service was delivered. These tools can be complex or simple and can collect tons of data in a short while. Data is collected from multiple channels in order to broaden the diversity of customer feedback. Omnichannel feedback works best, as it allows the best flow of feedback across various channels.

The data collected is then audited against the database to fully make sense of it all and prep the next phase – the use of different analysis to process data.

2. Processing: 

Processing data involves the use of impact assessment, among other types of analysis, to determine the effects of certain decisions on consumer behavior and preferences. This also allows for some predictions of future customer behavior and the development of strategies to achieve the same.

3. Action: 

No customer insight process is complete without an actionable plan. Every information retrieved is processed and used to develop plans to meet target predictions of future customer behavior. Each strategy developed should be a part of a larger strategy to improve the customer experience and profits for the business.

Unfailingly, customer experience metrics such as NPS, CSAT, CR, CES, etc. should be measured, to understand how satisfied customers are with the whole process of product delivery. Of course, taking it a step further, to ask for suggestions and ideas about the service they want is beneficial.

As the business space evolves, staying ahead of customers is an advantage that businesses should pursue. Customer experience insights help to make this happen.