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These will help you understand the strengths and weaknesses in your customer journey. That’s necessary if you’re going to correct things. The following KPIs are ideal for a customer experience audit. Customer satisfaction (CSAT) You obtain CSAT scores by asking customers for feedback. You ask customers to rate your products and service on a five point scale. The simple question “how would you rate your service?” is so valuable. Net promoter score (NPS) NPS is a metric that tells you how likely a customer will recommend your company to others.Once again, you should directly seek feedback to get your NPS. A five point scale from “ very unlikely to recommend” to “very likely to recommend” works great. Churn rate Your churn rate is the rate at which customers stop buying from you. YouWhatsapp Number List may notice different rates depending on the channel which the customer used. A high churn rate is a good indicator that there may be a problem. To calculate churn rate, use the following formula: (Lost customers ÷ total customers at the beginning of a given time period) x 100. Say your business had 500 customers at the beginning of the quarter and lost 30 customers by the end. Divide 30 by 500 and multiply by one hundred.
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This gives you a churn rate of 6%. Customer lifetime value (CLV) CLV tells you how much money you can expect to make from the average customer. This isn’t only for one transaction but the full length of their relationship with your business. Improving the customer experience should in turn increase CLV. You’ll need to continually monitor and analyze these KPIs. There are many solutions available to help you keep track.
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