Constant engagement is key to creating a quality, meaningfully improved customer experience (CX). And for banks especially, the quality of the experiences customers have with a brand is the key factor in determining a customer’s longevity and willingness to maintain a relationship with a company. Banks can and should engage with customers via CX surveys and other feedback methods to see what customers love about the experience and what might need a little tweaking. Even more importantly, banks should engage with customers to let them know that they’re cared for not just as customers, but people.
Customers who feel heard and seen in this way will keep coming back even when the competition out there is fierce (and as you well know, it’s always fierce in the banking world). But what best practices should you follow to create winning CX surveys for bank customers?
Most banks rely on surveys to engage with their customers and gather this valuable intelligence, which is why today’s conversation focuses not ‘just’ on how to build a great survey, but how to do so in a way that speaks effectively to banking customers. So, with that in mind, let’s kick things off by going over our two favorite survey types: relationship surveys and transactional surveys.
Relationship surveys are all about the big picture—brands in every industry use them to get a glimpse of the entire customer-company relationship instead of one or two transactions. A good relationship survey gives banks not only how their customers feel about experiences now, but also helps highlight which experience elements might be even more influential tomorrow.
What follows is the secret sauce for a great relationship survey. You want to include metrics that measure overall satisfaction and loyalty. You also need questions about brand perception, channel usage and satisfaction, product usage and satisfaction, and the experiences that impacted, or are impacting, your customers the most. Questions about marketing communication perception never hurt either! All of these questions, when used together, will give your bank a 360-degree view of customer relationships that goes a long way toward Experience Improvement (XI).
As its name suggests, a transactional survey is all about how well (or not) a transaction at your bank went for your customer. These surveys can be tuned to both in-person interactions and online banking. Though transactional surveys are of a smaller scale than relationship ones, they’re also much more specific, which is great when you’re trying to get into the details of individual interactions.
Generally speaking, you want your transactional survey to ask how well the transaction went, overall satisfaction with elements like application processes and bank teller interactions, and whether there were any problems with either the transaction itself or the resolution that followed. All of that makes for a good enough survey, but we challenge you to go beyond by also asking about elements like how knowledgeable your customers think your reps are, how complete your information is, and whether it’s easy to jump between channels for a more fluid experience.
The Next Step
Whether you’re looking to design your first survey or double-checking whether your current one is up to scratch, we also challenge you to bear something else in mind: having a survey is great, but knowing when and where to deploy it is even better. Hot alerts, contextual survey deployments, and being able to analyze unstructured survey feedback can help take your bank straight to the top.
Interested in learning more on how to do all that? Click here to read our full-length eBook on how banks like yours can use surveys to meaningfully improve experiences, strengthen your bottom line, and build meaningful relationships with customers!
Investor Blake Bartlett coined the term “End User Era” to capture an important shift that is happening on an organizational level across industries: “Today, software just shows up in the workplace unannounced. End users are finding products on their own and telling their bosses which ones to buy. And it’s all happening at lightning speed.”
Companies like DocuSign, Slack, Zoom, and Hubspot are examples of SaaS companies that are thriving in the End User Era. Their success is rooted in products that end-users love. Product Led Growth codifies this end user-focused growth model. PLG relies on the product itself as the primary driver of customer acquisition, conversion and expansion. This approach goes all-in on end user ease and productivity to drive growth, and is a radical shift away from the acquisition growth model so familiar in the software industry.
Customers Will Tell You Where Your Product Led Growth Bottlenecks Are
Metrics are essential to understanding progress on the product led growth curve. Typically the PLG model evaluates business and pipeline health based on user actions (clicks) and subscription revenue.
This is where CX metrics are so valuable. Voice of customer data illuminates the “why” behind the clicks and the cash. Classic CX surveys like NPS, PSAT, CSAT, and Customer Effort Score(CES) monitor customer sentiment—providing critical insight into behavioral and revenue metrics.
By analyzing the open-ended comments that accompany the rating-scale questions you can identify positive and negative themes in what customers are saying. Based on what you learn, you can confidently prioritize improvements to your product that will remove bottlenecks, the enemy of PLG success.
At the core, product led growth is about taking tasks that would traditionally be done manually and putting them into the product to create efficiency and a better customer experience. Step back and map out all of the steps in your funnel from acquiring an initial lead all the way through to turning that lead into a paying customer who sees value in the product. Where are the bottlenecks?
How do you know where your bottlenecks are, and whether you are eliminating them?
Let’s explore each metric to understand how it can help you identify and address bottlenecks, with real-world examples from our customers.
Net Promoter Score (NPS): Loyalty and More
Net Promoter Score (NPS) surveys ask customers to evaluate how likely they are to recommend your product or company to a friend or colleague, this “propensity to refer” is an excellent predictor of future growth.
Unlike the other metrics covered here, which are flexible and easily customizable, true NPS surveys follow a very specific format when it comes to asking the first (of two) questions. By asking that first question in a specific way, using a standard scale, companies can compare their NPS scores to industry benchmarks. The second question, which gathers qualitative data regarding improvement opportunities, can (and often should) be customized.
NPS Surveys ask two questions…
Question #1: “How likely are you to recommend this product or company to a friend or colleague on a scale of 0-10?”
Question #2: “What can we improve about this experience?” (if they rated you 0-8) or “What did you love about this experience” (if they rated you a 9 or 10).
The first question allows you to calculate your Net Promoter Score, which is a number between -100 and +100 and serves as a benchmark for progress. For detailed information on how to calculate NPS, and what the number really means, take a look at our Net Promoter Score post.
The second NPS survey question is just as important, if not more so, than the score itself because this qualitative data tells you what you need to do to improve end user experience.
Why is NPS key to Product Led Growth? Traditionally viewed as an indicator of growth (as mentioned above), NPS is also a crystal ball when it comes to retention. NPS gives you a glimpse into the minds and hearts of your end users. It can provide a constant stream of feedback about bottlenecks and that will help you create products that enable the ease and productivity you are going for.
In short, NPS captures what’s most important to users, whether it’s documentation, training, or aspects of the product itself. NPS is typically the foundation of any CX program, and since you don’t want to get overwhelmed in the beginning, there’s nothing wrong with making NPS your sole CX metric at this stage.
NPS Example: DocuSign
DocuSign uses NPS to gather feedback on product features and pinpoint any bottlenecks in the experience. They achieve this by customizing their NPS follow-up question (the one that asks users to explain their score). In the in-app survey pictured below, Docusign asks “Tell us about your experience sending an envelope.”
Guneet Singh, Director of CX at DocuSign, believes that regardless of which metric you use, it’s vital to understand how customers feel about your product at key points in their journey. In other words, don’t wait to conduct an annual survey—gather continuous data and refine your product based on that feedback.
Customer Satisfaction (CSAT): Because Support Is a Bottleneck
Customer Satisfaction (CSAT), like NPS, is another metric you can use at various points in the customer journey. The classic use case for CSAT is following up on a support interaction, where you can ask customers about their experience:
Solving their specific problem
Working with a particular CS agent
Working with your company in general
CSAT surveys can use a scale ranging from “very satisfied” or “very dissatisfied,” often followed by a question that asks the user to share the reason behind their score.
What makes this touchpoint so vital from a PLG perspective? Support calls, by definition, are a point of friction—nobody contacts customer support when things are going right.
Product Led Growth endeavors to eliminate support interactions altogether. When was the last time you reached out to customer support at Slack or DocuSign? Chances are, it’s never happened. That’s the seamlessness you’re going for.
This touchpoint is a rich source of insight into frustrations that customers face. Product teams that prioritize end user experience pay close attention to feedback from support as they improve product and design new features.
CSAT Example: Glassdoor
Glassdoor, the popular site for job listings and anonymous employer reviews, uses Customer Satisfaction surveys to gather feedback on support interactions. When a support case is closed in Salesforce, end users receive a personalized CSAT survey via email.
Carmen Woo, Salesforce Solution Architect and Senior Application Engineer, holds the cross-functional CX technology vision at Glassdoor. “What is intriguing about our use case is that we use machine learning to analyze feedback. Comments are tagged by topic themes and are assigned sentiment to capture the emotion behind the user’s words.
“The [InMoment] platform allows our Support team to segment feedback by agent and other relevant business drivers to uncover insights that contribute to optimizing our support function, and it can also reveal bottlenecks that are best addressed by improving product features or design,” says Carmen.
Product Satisfaction (PSAT): Adoption and Engagement Bottlenecks
PSAT surveys are highly flexible, and they can be structured the same way you structure Customer Satisfaction survey questions—asking customers to rate their level of satisfaction with a product using a scale from “very satisfied” to “very dissatisfied” (e.g., 1-3 or 1-5) or through a binary response (e.g., “happy face” or “sad face”).
PSAT surveys are best delivered within an app, when customers are using your product and can give you fresh, timely feedback. The customer sentiment derived from PSAT surveys is the necessary complement to behavioral metrics. Sure, you can see in the clicks that users are not adopting a feature, but why? PSAT helps to answer that question and guides optimization efforts.
PSAT Example: HubSpot
Marketers that use HubSpot, the popular CRM software, may recall responding to a Product Satisfaction survey when using a new feature for the first time. PSAT gives Hubspot immediate feedback on whether a new feature is delivering value to the end-user.
Even if you’ve done extensive user testing, getting feedback on a feature within the context of a user’s experience of the whole product is valuable. Is there friction? Should the feature be tweaked in some way?
This approach, which is a key aspect of lean UX design, ensures you don’t go too far down the rabbit hole with a product feature that sounded great in theory but didn’t serve your end-users in the real world. New features can bring complexity — the bain of end user ease. By continually asking for feedback in-product, you can better calibrate that balance and maintain a frictionless, easeful end-user experience.
Customer Effort Score (CES): Identify Bottlenecks in Onboarding
A seamless onboarding experience is key to widespread adoption. If end-users have to work too hard to get up and running, they’ll give up and try a competitor’s product. Even if you have an enthusiastic champion within a company, if they have to prod others to adopt or spend time convincing them of your value, their own enthusiasm will wane. As such, it’s important to evaluate how much effort end users must put into getting started.
Customer Effort Score (CES) asks how difficult it was to accomplish a given task using a predefined scale (e.g., 1-7 or 1-5). Here is an example of a CES survey:
CES surveys are frequently used to follow up on support calls, but they’re also extremely valuable when evaluating the onboarding experience. Success teams know that the seeds of churn can be sown in the onboarding phase. They have been using feedback from CES surveys to both (1) follow up with that customer to fix the problem and (2) develop tasks and processes that will prevent future customers from experiencing the same bottlenecks.
However, in the context of PLG, addressing onboarding feedback isn’t just the domain of the Success or Support team. It is vital input to UX teams that seek to eliminate tasks that would traditionally be done manually and put them into the product to create efficiency and a better customer experience.
CES Example: Watermark
Watermark is in the EdTech space, and they’ve taken a comprehensive approach to optimizing user experience. Here’s how they do it, starting with Customer Effort Score surveys.
Watermark has a complex onboarding and training process, so they gather data at the end of each of three phases of training using CES surveys. The feedback goes to the implementation and training teams to both (1) improve the process and (2) identify customers who may need extra support. Then, of course, they look for larger trends and modify their onboarding experience accordingly.
Watermark also measures NPS & CSAT. NPS is measured across six product lines, and Watermark studies the correlation between NPS and renewals. Higher NPS scores predict a greater likelihood for renewal, and improving products based on NPS survey results is key to Watermark’s customer retention strategy. CSAT surveys, triggered from Salesforce Service Cloud when a case is closed, help to evaluate and improve Customer Support.
And as Dave Hansen, the CX champion at Watermark, points out, they dig into the data to identify points of friction. “The feedback we’re getting tells us that there isn’t necessarily an issue with our overall solutions,” says Dave. “You may have issues running a certain report, or you may have issues with the way you have to click through to something.”
Product Led Growth Strategy Is About End User Experience
The four CX metrics covered in this post (NPS, CSAT, PSAT, and CES) offer insight into end user experience and augment behavioral data with the voice of your customer.
Remember, don’t allow scores to be your sole focus. There is gold in the open-ended feedback you receive. Without analyzing the open-ended feedback you receive, the metrics are just benchmarks that you’ll aimlessly try to identify bottlenecks through guesswork. In the end, that won’t get you very far.
Product Led Growth is all about creating a smoother experience in the moments that matter. CX metrics and voice of the customer comments help technology companies do just that.
A lot of companies and organizations have gotten a very specific idea of how experience programs and human expertise work into their collective minds these last 20 or so years. The impression is this: experience programs are fully autonomous solutions that can pretty much be set and forget. They can automatically gather data and use that information to solve your business challenges, build better relationships with customers, and help you achieve Experience Improvement (XI).
There’s a good reason this impression is so prevalent: it’s a pretty accurate description of a lot of the experience programs and vendors you’ll find out there. The catch, though, is that technology and data alone can’t actually address any of the factors I laid out in the preceding paragraph. There’s a gap between tech and outcomes that many vendors gloss over in their rush to provide reaction-based, purely DIY solutions, and that’s human expertise.
What follows are three reasons human expertise is vital to actually bridging that tech-outcome gap and creating Experience Improvement for your customers, employees, and marketplace:
Problems and Priorities
Reason #1: Best Practices
When you boost your experience program with human expertise, you’ll have armed yourself with countless best technology practices. It’s true that technology has produced some extremely powerful tools, such as sentiment analysis, but you need human expertise and consultancy to help identify which sentiments are most relevant to your Experience Improvement goals.
In other words, even a tech engine needs a driver. Putting a consultant or thought leader in that seat will make a world of difference for your experience program’s effectiveness. Take time to consider which goals you need your experience program to help realize, design that program with the end in mind, and keep someone at the helm who can make sure your initiative doesn’t stray from the path.
Reason #2: Problems & Priorities
Another reason that fully autonomous experience solutions often fail the brands that use them is that they lack dynamism. They’re programmed with a specific set of parameters and will barge ahead even when problems arise or priorities shift. That’s another reason human expertise is invaluable in a CX setting; having someone handy who can identify problems when they arise or read new writing on the wall can feed that insight directly into your experience program, supercharging its effectiveness.
Even if some of the DIY experience tools out there allow users to tweak for factors like these, doing so without the aid of an experienced practitioner can still leave you open to mistakes. On the flip side, arming yourself with that expertise can make you aware of larger trends and deeper problems than a few cursory adjustments to program parameters can account for.
Reason #3: Marketplace Intel
There’s a market research element to human expertise that can help take your experience program (and your brand) to the very top of your vertical. Experience initiative success stems from a few places, like successfully closing the loop and implementing meaningful transformations, but it also comes from a deep knowledge of your brand’s marketplace landscape. This means understanding customer segments, knowing where to find unsolicited data, and identifying new and emerging trends.
A versatile and powerful Experience Improvement platform can eventually come to account for factors like these, but only when guided by human experience and insight. It takes that expertise to identify audience segments, unsolicited data sources, and more. These experts can then help pour that context and insight directly into your platform, allowing your experience team to furnish specifical, meaningful solutions to your business challenges. It’ll also enable you to do something no DIY program can do: create bold, human, and meaningful relationships with customers that will stand the tests of time and competition.
Creating Experiences, Not Just Numbers
How else can human expertise help shape Experience Improvement success, and how best can brands combine their tech with expertise to create better outcomes for customers, employees, and their marketplace position? To learn more, click here to read my point of view document. I go into greater detail on the nature of human expertise and how intersecting that with technology the right way will help you realize the goals outlined here.
Insurance brands have a unique set of challenges to overcome in order to find the valuable customer experience (CX) data they need to improve experiences. Insurance customers are buying into a long-term relationship, which means building brand trust is extremely important to keep customer retention rates high. And for insurance CX programs, customer data is a key source of information that can help insurance companies cultivate a growing trust with their consumers.
So how do you collect the most valuable feedback from your customers? We have three tips for you to apply to your own CX strategies:
Tip #1: It’s Time to Rethink the Voice of Customer
For insurance CX programs, listening to the voice of customer shouldn’t mean collecting as much data as possible. Instead, the goal should be to collect the data that matters. For example, many insurance CX programs survey with metric-based questions and get consistently high scores from customers. But what they’re not receiving is actionable feedback to improve further. This can be solved by focusing more on unstructured questions to allow customers to actually express what they’re thinking about.
Another important thing to consider when listening to the Voice of Customer is when your CX team is listening along the customer journey. That can matter just as much as the type of questions you’re asking. So think about the different touchpoints that pose potential for valuable CX data.
Insurance CX programs commonly hone in on claim submission with their surveys, but it’s actually rare for a customer to do so in the first place. On the other hand, paying bills is a much more frequent action that customers take and could give your program greater access to the Voice of Customer.
What kind of questions you ask and when you ask them in the customer journey can make a big difference in the data you’ll collect.
Tip #2: Are Traditional Surveys Really Your Best Bet?
The next question you have to ask is, “are surveys really the best way to engage customers?” Traditionally, surveys have been a core part of CX programs for insurance brands but it’s time to move beyond that. In our 2022 Experience Trends Report we discovered that Gen Z customers and employees in the U.S. are about 19-22% likely to complete a traditional survey.
This doesn’t mean we should discard survey methods for the rest of time, however. It just means we need to evolve with customers’ expectations. Providing channels other than traditional surveys for customer feedback—like video, microsurveys, or speech—can help your insurance CX program reach a wider range of the customers you’re trying to cater to.
Tip #3: Remember, CX Data Is for Proving ROI
Executives in insurance companies have a specific language they speak—and communicating with them effectively is the best way you can prove Return on Investment (ROI). The CX data on its own isn’t enough, you need to translate numbers and comments into meaning. When you speak your C-Suite’s language, your executives will be onboard with your program and you’ll have more opportunities to build that high level of trust with customers.
This is especially crucial since insurance customers are in it for the long run. If they don’t believe your business is improving customer satisfaction efforts overtime, then their loyalty will dwindle. If your insurance brand has customers who have been with you for years, it’s in your best interest to make their voice heard among your executive board.
Want more tips on how to improve your insurance brand’s CX program? Check out this video about understanding customer expectations from InMoment Client, Aegon!
Market research is seen by a lot of companies and organizations as a nice-to-have. The reality, though, is that it’s a necessity. Market research provides the mapping tools you can use to chart your business landscape, understand its various features, and more importantly, get to know the groups and audiences that populate it.
This goal is especially important within the context of experience programs, especially if you want to achieve real Experience Improvement (XI) for your customers, employees, and overall marketplace. Today’s conversation covers three specific ways market experience (MX) and its research can make a difference for you when it comes to becoming a leader in your vertical:
Identifying Audience Segments
Understanding Unsolicited Data
Identifying Emerging Trends
#1. Identifying Audience Segments
There are many experience vendors out there whose approach revolves around two audience groups: new customers and existing customers. Those two audiences are important, of course, but so too are the litany of other customer and non-customer groups that populate your marketplace landscape. Identifying each segment and the amount of business it does with your brand is key to understanding both your vertical and how to become its leader.
More specifically, MX tools and platforms enable you to identify not ‘just’ your loyal customers, but also non-customers, past customers, and individuals who cross-shop with you and with competitors. You can then use your tools to research why these segments shop with you as often as they do (or don’t) and, more to the point, what you can do to turn them into loyal, invested customers.
#2. Understanding Unsolicited Data
Audience segments aren’t the only experience program element that market experience and market research can dramatically broaden. Another key component of understanding your marketplace is looking for and understanding unsolicited data, which MX tools can also help you achieve. Solicited data is important, but as with audience segments, understanding all of the data out there, solicited and otherwise, is the only way to truly understand your vertical.
As a quick reminder, unsolicited data refers to sources of information like social media and what you can infer from your market research. You can find this data once you’ve identified where the audience segments in your marketplace like to shop, which will lead you to more of the data you need to understand them. In other words, adding unsolicited data to the mix helps turn your picture of your marketplace from a snapshot to a landscape portrait.
#3. Identifying Emerging Trends
One of the secrets to building a truly remarkable customer experience isn’t ‘just’ being able to quickly react to problems or listen intently to your existing customers—it’s the ability to understand what all of your customers and audiences will want before they themselves even know. That’s the true power of market research, and it’s a culmination of understanding your vertical from both an audience segment viewpoint and a data one.
Once you’ve nailed down how to identify and capitalize on emerging trends, you’ll be well on your way to marketplace leadership if you’re not there already. Customers respond to experiences that make them feel seen and known as humans, and an MX-fueled initiative will create that Experience Improvement for them.
Taking a Closer Look
Knowing that these MX tools, methodologies, and possibilities is one thing—what’s the next step for understanding more about them and how to leverage them to your organization’s advantage? Click here to read my full-length Point of View on this subject to learn more about what market experience, market research, and all their tools can accomplish for you!
Surveys are a way to compile data from a group of people, but they can be more than that. Surveys are also direct insight into your customers and information about how they feel about your company, products, and services. How did your customers perceive your most recent product launch? How do they feel about your company’s social media presence? Surveys are a direct line to find out and glean valuable information about your customers and your company.
But not all surveys are the same, and different types of surveys can provide different insights. There are many types of surveys your company can choose from, and it can be hard to determine which one would be the best for your needs. So to help you figure out the right type of survey for your needs, we’ll walk you through the most common survey types, the benefits of using surveys, and how to get started today.
The Most Common Types of Surveys
There are so many survey types, but we’ll explore 7 types of surveys in depth since these are the most common and beneficial for most companies.
Online surveys are one of the most popular types of surveys and for good reason. Online surveys are easy to create, disseminate, and gather responses—challenges many other survey types face. Using an online survey platform, your company can create a survey easily and quickly—often with a wide range of question types—and send it out to customers within seconds. Your customers can then answer the survey at their convenience and send their responses back to you instantaneously.
In addition, online surveys are beneficial for companies that have a wide reach and customers around the world. Online surveys are accessible by anyone anywhere with only the click of a button. You can reach a wide audience with this type of survey.
But like any survey type, online surveys do have their cons. Online surveys could be accessed anywhere, but the survey recipient has to have internet access. There are parts of the globe and some households that don’t have internet access (or easy access to public internet) that could be valuable contributors to your survey. In addition, online surveys can provide a wealth of information, but they fall short in some depth. There’s no organic way to ask follow up questions or to probe deeper into an answer when you want more insights.
Paper surveys are sometimes looked at as old fashioned, but they do still reach an audience that can’t access many other forms of surveying. Many audiences—like senior citizens or those without internet access—are far more likely to respond or far more comfortable with paper surveys than online surveys. Plus paper surveys are often easier to read for many since they’re printed in large fonts with black text on white paper.
But one major con of paper surveys is that they can be pricier. Paper surveys have to be printed off, sometimes in large quantities, to reach your audience. That can add up if you’re trying to reach a large amount of people. In addition, paper surveys aren’t the most environmentally friendly way to survey.
Mail surveys are one of the most traditional surveying methods. While some people may look at them as old fashioned, there’s a reason this method has been around for so long: it feels authentic and offers you access to an audience that may be less inclined to respond online. Those demographics who are less likely to answer an online email survey are often familiar with mail surveys and will be willing to respond. In addition, mail surveys also have a wide geographic reach since most places are accessible by post.
When it comes to mail surveys, there are a couple of things to plan for in advance. First, creating the surveys can often be simple, and you do only need to print them off to distribute. But you should keep in mind that your response rate will often be lower if you don’t pre-paid return envelopes for the participants. One drawback of mail surveys is that they require some extra work on the part of the survey participants—something that often lowers response rates. You’ll want to reduce that level of work as much as possible by providing return envelopes that simply need to be dropped in a mailbox.
That brings up the second con of mail surveys: they can cost your company a little bit more. The cost of printing, envelopes, and postage can add up—but could be worth it for the responses you receive. Second, when it comes to response rate, less is more. Mail surveys have a better completion rate if they’re short. Try to keep your survey to about a page. Not only will that increase your chances of completed responses, short surveys also reduce printing and postage costs.
Telephone surveys are another more old fashioned method of surveying that has been around since landlines. Now that nearly everyone carries a phone with them or has one at phone, telephone surveys are alive and well in surveying methods. For a telephone survey, a real live interviewer will ask a series of questions and record responses. With modern technology, it’s easy for interviewers to insert responses directly into a computer system to chart and track data. In addition, telephone surveys let interviewers add a personal touch to the conversation that isn’t possible for online, mail, or paper surveys. The chance to ask follow-up questions can give the interviewers a chance to probe for deeper insights and emotions.
Telephone surveys still face a few cons. These surveys may be cost effective, but they should be kept short. Fifteen minutes is the cap for an effective phone survey. In addition, phone surveys run the risk of looking like a telemarketing call or being ignored. With the saturation of telemarketing calls, many cell phone users don’t answer calls from unknown numbers. Some even block all unknown numbers. While telephone surveys can be effective, your team of interviewers will first have to be ignored a decent amount.
While paper and online surveys lack a personal touch, in-person surveys excel at that. With these surveys, interviewers are able to directly interact with a respondent and to ask follow up questions that really delve into the nuances and intricacies of a response. These surveys provide accuracy and profound insights. In addition, in-person interviews are a great way to collect responses from audiences with low literacy—something that may hinder groups from participating in other methods.
While the insights gleaned from these surveys can be immensely valuable, there are still some cons to consider. In-person surveys can be time consuming. Your team will need to prepare a venue, schedule interviews, and spend the time actually performing the interviews. It’s a very hands-on process the entire time. In addition, in-person interviews run the risk of interviewer bias or inexperience. The interviewer is crucial to getting usable insights, so you will need to spend the time and money training or hiring one. Even a well-trained interviewer can still lead to interviewer bias skewing your information.
Panel sampling is when you select a group of people to survey repeatedly over a period of time. Your respondents will be randomly selected from your target audience, and they’ll respond to several surveys over a determined period of time. Longitudinal studies are a great example of panel surveying. These surveys can provide long-term insights and show in-depth understanding of a target audience. In addition, your company could use a third-party research company to perform a large bulk of the research and to ensure it’s done at a high level of quality.
But panel surveying takes time and preparation to make them effective and usable. In addition, some participants may choose to stop responding to surveys part way through the study, leaving you with gaps. Your company may need to provide incentives to encourage participants to follow through with the entire surveying process.
Focus Group Surveys
Focus groups are a variation of in-person surveying methods that includes a panel of 6–10 people that represent the target population. All of these people will answer questions and hold a discussion, moderated by a professional who attempts to keep everything on track and as unbiased as possible. These surveys can reveal personal attitudes and perceptions for a sampling of your entire target population—something that can be very valuable for market research.
The cons of focus groups, though, include the costs of preparing a moderator and participants. It can take time to select just the right panel of participants to make sure you are accurately exploring your target audience. You may also need to pay for the travel expenses and time of an effective moderator. Oftentimes you may also need to survey your focus group participants a second time to gather quantitative data, and that takes additional time and preparation.
Benefits of Using Surveys
If surveys take time, preparation, and work, why do companies keep turning them for market research? Aren’t there easier ways? Well, there may be, but there are few ways that can give you such insight into your target populations and how your brand is performing. Surveys provide strategic benefits based on customer feedback that can help improve CX and improve brand loyalty.
Here are some other key benefits of using surveys:
Large sampling size. Surveying can reach many customers in many locations or with many limitations. With a variety of surveys, you can reach people all over the world, people who don’t use the internet, and people who can’t normally participate in other marketing research methods.
More cost-effective. Even the pricier types of surveying are fairly cost effective when compared to the valuable insights you can gain.
Reliable and usable information. Surveys can give you information and insights that are a reliable reflection of your audience, especially of how they feel toward many parts of your brand. In addition, this information can actually be usable (with the right analysis) to improve your brand, customer experience, and, ultimately, ROI.
Improve the brand experience. Your customers deserve a brand they trust and have a positive experience with. Using surveys, you can get real feedback from your customers and improve your brand experience in meaningful ways.
How InMoment Can Help
If you’re ready to get started with surveying, InMoment can help today. InMoment’s Active Listening Studio provides your company with the tools you need to create strong surveys that will reach your audience and provide your team with the insights you need. InMoment surveys are conversations designed to reduce survey fatigue while ultimately capturing every customer story, so you can design products that will benefit them.
Once you have survey data, the next step is to analyze it and thoroughly glean insights from the responses. Being able to make sense of information is where you’ll be able to create opportunities to increase revenue. InMoment’s analysis can help your company find actionable insights and feedback.
Overall, surveys come in every shape and form—each one offering your team a new way to understand your customers and improve your customer experience and brand loyalty. With InMoment’s solutions, you’ll be able to take full advantage of the benefits of surveying and really understand your customers and be able to use that for actionable insights and informed business decisions. Conduct surveys and improve your customer experience with InMoment today.
Diversity and inclusion initiatives have become front and center for many organizations in recent years. It’s important for brands to create diverse and inclusive customer experiences (CX) and employee experiences (EX)—not ‘just’ because being more inclusive is the right thing to do, but also because organizations have a lot to gain from accommodating greater diversity in every experience they create.
Of course, an organization stating diversity and inclusion goals is a good start, but how can brands like yours translate such goals into tangible Experience Improvement (XI) strategies and tactics that create more inclusive customer experiences? There are many, many opportunities here, but the most important thing to do is to just get started.
So, here are three quick thoughts you should apply right now to create more inclusive employee and customer experiences.
3 Keys to Creating More Inclusive Customer Experiences
Key #1: Don’t Be Afraid to Make Mistakes
Key #2: Engage New and All Audiences
Key #3: Apply What You’ve Learned
Key #1: Don’t Be Afraid to Make Mistakes
It’s understandable for organizations to be intimidated by the prospect of making mistakes while attempting to accommodate and include new audiences. Such mistakes can quickly become viral via social media, review sites, and other tools, creating headaches both for brands and the customers (or employees) at the heart of such events.
Though this worry is certainly a valid concern, it’s better to accept that mistakes might be made and press forward with your diversity and inclusion efforts than to allow timidity to outright impede either. These are the growing pains of becoming more inclusive with your customer and employee experiences, and facing them head-on will also give your team an opportunity to consider how best to handle such mistakes and learn from them.
Experience shows that both customers and employees accept that mistakes inevitably occur and are a result of activity. Being passive is not an option when trying to create more inclusive customer experiences. Overcome the fear of making mistakes and concentrate on a transparent and authentic way to deal with them when they occur.
Key #2: Engage All Audiences
If you’re still concerned about how best to connect to audiences you haven’t consistently talked to before, this is the section for you. For many years now, the big idea behind CX and EX programs has been to simply gather as much feedback as possible from as many people as possible. However, before turning any listening posts on, you should sit down with your team and design (or reorient) your experience initiatives with your end goals in mind. You must ensure that you give all audiences you want to hear from the opportunity to provide feedback.
In this case, if your goal is to create more inclusive experiences, you should consider which audiences you need to reach out to and how to do so. This means doing some legwork to find out how those audiences communicate, what their preferences are, and bringing all of those insights to bear when meaningfully improving your experiences to accommodate diversity and inclusion.
Also, don’t forget: You need the right tool to collect feedback from all audiences as well as to disseminate that information to all members of your organization. Make sure you are using accessibility tools like screen readers, larger font sizes, higher contrasts, etc.
Key #3: Apply What You’ve Learned
You can and should apply the above mindset to any experience goal you have across the entirety of your business. Applying it here will give you the intelligence and landscape map you need to achieve Experience Improvement (XI) for new audiences.
However, intelligence and roadmaps are only half the battle; taking action is imperative to actually making your experiences more inclusive. The work is ceaseless and oftentimes difficult, but if your team is ready to continue making an effort, you can be assured that the audiences you need to reach will respond.
As you continue to take action on what those audiences tell you, you’ll be able to meaningfully transform your business and realize your goal of a more inclusive experience. Being more inclusive is an invaluable component of marketplace leadership, but it’s also what will set your organization apart from your competitors in your customers’ eyes. The result is a mutually beneficial, meaningfully improved experience that will demonstrate to all your organization’s commitment to diversity and inclusion as well as faster revenue growth and higher profitability.
Click here to learn more about the importance of diverse and inclusive experiences in my full-length point of view article. I take a closer look at the topics explored here and go over a few other best practices you might not have had the chance to read about elsewhere.
It’s a commonly held belief among many brands—and the customer experience (CX) vendors that partner with them—that all it takes to solve your business challenges and meet CX goals is to turn on as many listening posts as possible. The idea behind this approach is to gather a mountain of ‘big data’ and thus be armed with every possible piece of information about your customers, your employees, other audience segments, and all their preferences.
The truth, though, is that there’s a gap between data and business challenges that just having data isn’t enough to bridge. A lot of CX vendors and programs fail to account for this gap, and thus many of these initiatives fail to make a difference. The secret to making a difference? A principle called designing with the end in mind, and connecting your CX program to quantifiable goals before any listening posts are even activated. I’m going to take you through three such goals that will help your CX program be the best it can be. Those goals are:
CX Goal #1: Customer Retention
CX Goal #2: Cross-Selling/Upselling
CX Goal #3: Customer Acquisition
CX Goal #1: Customer Retention
Given how much more expensive it is to onboard new customers than to keep existing ones, customer retention is a goal that permeates most every department of most every organization. A lot of brands want to use their CX program to retain customers, but they usually end up gathering a mountain of data and then trying to manually carve insights about their existing audience out of it.
It turns out that using this approach means that you’re working backwards. Rather than try to gather actionable insights only after accruing data, it’s far better for brands to dedicate at least part of their program design phase to figuring out which goals they need to achieve for their customer base. Which audience segments do you need to listen to? What channels do they use? Building your program around these questions will end up saving not ‘just’ customers, but a great deal of time and effort on your part.
CX Goal #2: Cross-Selling/Upselling
Once you’ve established which audience segments and channels suit your business goals, you can dive a bit deeper by identifying cross-selling and upselling opportunities within your customer base. This work requires nuance, but you can use the same design-with-the-end-in-mind approach here as with retaining your customers to unveil new revenue sources without having to onboard new customers.
This goal ends up being something that a lot of brands overlook, but it should be a core driving ethos of your CX program. You should also make room within this goal for cross-shoppers and customers who transacted with you in the past but aren’t currently. With a well-designed CX program, the sky here is the limit.
CX Goal #3: Customer Acquisition
Acquiring new customers can be expensive, but everyone knows it’s a necessary goal to shoot for to sustain growth and market share. You can use the same audience segment and channel identification ethos here as with customer retention; the result will be the ability to find where new business lives and be there for it when your competitors can’t or won’t. In fact, researched properly, you can arm yourself with an idea of what these new customers will want before they themselves know!
Bridging The Gap
These three goals form a solid foundation for any customer experience program, and designing your program around them before activating your listening posts will enable you to actually bridge the gap between your big data and achieving Experience Improvement (XI). Knowing your audience and your marketplace landscape are integral parts of market experience (MX).
To learn more about how market experience shapes CX program goals and how best to get the lay of your marketplace landscape, click here to read my full-length PoV on using a combination of tech and market research to find and grow audience segments. Achieving an MX perspective takes time and effort, but the brands that master it are the masters of their verticals far more often than not.
Did you know that April is Stress Awareness Month? Merriam-Webster defines stress as “a physical, chemical, or emotional factor that causes bodily or mental tension and may be a factor in disease causation.” And looking at the world around us, there are many elements that could lead to immense feelings of stress.
Rather than rattling off a list of possible stressors, we want to talk about how you and your employees can manage these feelings year round with practical, accessible tools and coping strategies. So without further ado, let’s get zen!
3 Tools to Share with Employees for Stress Awareness Month
Tool #1: Leverage Company Mental Health Resources
Over the course of the COVID-19 pandemic, companies realized that they needed to provide mental health resources (such as tele-therapy) for their employees as they navigated “unprecedented times.” And though the pandemic is becoming less central in our everyday lives, those resources are still absolutely vital.
If you are on your company’s human resources team, it might be worth reiterating available resources to your employees via email or your company’s internal communications channels (especially since it’s Stress Awareness Month). This communication should also feature clear instructions on how to access those resources to increase accessibility. Having those resources is only helpful if your employees are aware of and using them!
Tool #2: Create Space with Meditation
Stress can create feelings of helplessness, decrease ability to focus, and stir up racing, negative thoughts. To combat this, encourage employees to create mental space with meditation.
Meditation will look different for everyone, but the goal is to “focus your attention and eliminate the stream of jumbled thoughts that may be crowding your mind and causing stress.” One common method is to sit quietly and focus solely on your breath for at least two minutes. If you get distracted, that’s okay! Just refocus your attention on your breath.
There are also apps and websites that provide guided meditations and tools to help achieve a meditative state. At InMoment, we provide our team members with access to an app called Sanvello, a mental health app that supports people through self care, peer support, coaching, and therapy. One of the tools available on Sanvello is guided meditations.
“We are so happy to give our InMoment Team access to Sanvello, a mental health app that focuses on the importance of checking in with yourself,” said InMoment CHRO Wendy Rand. “Employees will be able to leverage the app to access self care tools like daily mood tracking, guided journeys, coping tools like meditation, and more to help them manage stress in a world full of noise. This is a wonderful step to support our team both inside and outside of the workplace.”
In addition to apps like Sanvello, you can also find free guided meditations on Youtube and other sites. These resources can be communicated via the same method we mentioned in tool number one.
Tool #3: Plan for Moments That Matter
At InMoment, we have this saying: “Own the Moments That Matter.” And though this is applicable for improving experiences for customers and employees, we also mean that it’s important to really be present in the moments that matter most to you personally.
We each have our own “moments that matter,” whether it’s going on a walk with our dog, taking an exercise class, spending quality time with our family and friends… the list goes on! In these stressful times, it’s more important than ever that we are deliberate about setting time aside for the things that make us feel our best.
At the beginning of each week, set aside time in your schedule to do something for yourself, and encourage your employees to do that too! It can be something as simple as taking 20 minutes to get up from your desk to stretch, or you could even utilize your paid time off to have an extended weekend. Whatever it is, we each need to take the time to create (and own) our own moments that matter.
Encouraging a Self-Care Culture
It’s simple: companies are most successful when their employees are successful—and this stretches beyond professional success. To be their best at work, employees need to know that their employers encourage them to do what they need to in order to thrive. That means companies must clearly communicate about mental health resources and provide the tools necessary to assist their employees year round—not only during Stress Awareness Month. Doing so clearly displays employee commitment, and will lead to cultural and business success long term.
What is employee commitment? And how can brands demonstrate that? Learn all about it from InMoment employee experience experts here.
In the midst of the fallout of a global pandemic and the Great Resignation, the employee experience (EX) is an incredibly hot topic. With such a complex EX landscape, what do brands need to do to retain their employees, inspire their commitment and advocacy, and attract new talent?
If you’re looking for the answers to these questions, say no more—InMoment EX expert Michael Lowenstein is here to help with all the thought leadership you need. Check out these must read articles below!
#1: Employee Engagement: Does the Defense’s Case Still Hold Water?
When it comes to optimizing the employee experience, does an engagement-based approach still work? More and more, we are finding that employee commitment represents a more progressive and actionable EX construct. It better reflects the realities employers face in today’s talent landscape, and how employees are making job-related decisions.
#2: What Causes Employee Turnover? How Does Today’s Unprecedented Employee Churn Impact Customers Tomorrow?
Today, there are multiple drivers, or causes, of employee turnover. And, there are definite connections, or links, to how the rate of employee resignations can, and does, impact customer experiences and perceptions of value. So, how will unprecedented employee churn today impact customers tomorrow?
#3: The Key Post-Pandemic EX Holy Grail for All Companies: We’re Now in the Era of Required Employee Commitment and Linkage to CX
The COVID-19 pandemic has actively contributed to a reassessment of priorities by both employees and employers. Employees are reconsidering the personal value represented by their jobs and roles. Employers are reconsidering methods for building connections as well as performance. So, post-pandemic, what are the key enterprise considerations for improving employee experience?
#4: The Impact of YOLO on Employee and Customer Experience
YOLO (You Only Live Once) is a current societal force which has been over 250 years in the making. Today, it is directly fueling the Great Resignation—especially among GenZ and Millennial employees. This has contributed to greater attention to factors of YOLO which influence employee behavior, especially employer disconnection and churn. So, what is the impact of YOLO on employee and customer experience?
#5: In EX, Quo Vadis? Translated from Latin: Where Are We Going with Employee Experience Improvement?
The employee landscape is undergoing dramatic and rapid change, with a heightened emphasis on emotional drivers and connection to the employer’s culture. For instance, organizations are coming to understand that everyone in the organization is responsible for developing and delivering customer value. So, where is employee experience headed?
#6: Do Companies Recognize the High CX Value of Employee Advocates? Shouldn’t They Want to Cultivate the Kind of Behavior Advocacy Represents?
Employee commitment and advocacy behavior influences customer experience, on both an indirect and a direct basis. Significantly more than either satisfaction or engagement, where employees are viewed as costs, committed employees are key enterprise assets, delivering superior, differentiated customer value. So, how well do companies recognize the value of employee commitment and advocacy?
#7: Diagnosing and Improving Employee Connection to Company Culture
Employees’ connection to, or disconnection from, the employer’s culture—its fairness, transparency, equity, humanity, career opportunities, communication, management trust, etc.—is perhaps the biggest contributor to today’s high resignation rates. Yet, traditional engagement research only minimally addresses, if at all, what cultural factors work, or don’t work, for employees. Through new and focused research approaches, there is a clear, actionable path to enterprise culture improvement. So, will organizations do more to understand the importance of, and level of employee connection to, company culture?
#8: Potentially, How Will the Future of Work and ‘The Great Resignation’ Impact Customer Experience?
Today, many organizations are focused on how the future of work will affect both customer experience and employee experience. A major challenge, however, is the continuing high level of employee turnover. This is largely because employees, who actively desire to work for companies with a more humanistic culture and a purpose which they can support, are too often finding these lacking in their present employer. These perceived shortcomings can be reversed. So, how will key realities in the employee landscape impact CX?
#9: It’s Time to Recognize the Impact and Value of Employee Behavior: Making Employee Experience an Organizational Priority
As organizations become more mature in their approaches to employee behavior and experience, a key question which needs to be addressed is the level of enterprise priority, and investment of resources, employee experience receives. And, directly connected to this question, companies need to understand the degree to which employees are recognized as key assets, not costs, when their research and initiatives still follow an engagement-based model. Moving the strategic focus to employee commitment is the next, more progressive, stage of employee experience maturity. So, are organizations making employee experience and employee behavior a priority?
#10: Employee Advocates: Their Role as Committed Company Assets, Active Communicators, and Key Contributors to Stakeholder Value
Advocacy, where employees are identified as active contributors to business outcomes and are recognized and leveraged as significant enterprise assets, is the ultimate stage of EX maturity. Although developing a corps of such employees is attainable with focused discipline and investment, few organizations reach this level. Not only are employee advocates committed to the organization and its customers, they are emotionally connected to the culture and purpose of their employer. They are active partners in delivering superior customer value. So, do companies see employee advocates as essential enterprise assets?
#11: Elves Rule: Employees ‘Make’ the Experience for Customers, and They Should Be Recognized for It
Just before Christmas, good little children all around the world are preparing their lists of preferred gifts. They are told that the holiday presents they receive will come courtesy of Santa (and Ms.) Claus. But, isn’t it the elves, toiling in anonymity (except for the occasional movie) at their North Pole workshop, who—like employees everywhere—are those most responsible for creating customer joy? So, how well do organizations understand and recognize employees’ essential role in the customer experience and the creation of value?
Customer experience (CX) metrics are a CX program’s bread and butter. NPS, CSAT, and CES have historically been the main tools every program utilizes to have a systematic way of establishing a voice of customer (VoC) source and leveraging those findings to improve customer experiences. But it’s not easy—a CX metric score alone can’t create transformation.
CX metrics aren’t one-size-fits-all. Certain CX metrics are more fitting for specific industries—and even then your brand might not need to use the same metrics as your direct competitors. Case in point, there’s no one golden method to measuring CX metrics, which is actually why many businesses struggle to create a success framework.
In our decades of experience helping brands to build programs (and the success frameworks that accompany them), we’ve noticed there are a few common obstacles companies face. Here are the three most common CX questions we get all the time:
CX Metrics Question #1: What Metrics Can You Use to Determine Industry and Organizational Maturity?
Before you can answer this question for your company, there are three things you should answer first:
Are you measuring a customer experience—and is it satisfaction or NPS—or a metric that aligns with the goal you have?
What are you doing with it? How are the metrics of field services, retail, call-center, first-contact resolution, etc. used?
From an employee perspective, are you doing something beyond a basic employee engagement study? Or do you have an employee pulse metric by division, region, or queue?
There’s no one-size-fits-all metric that determines maturity—and should there be? Instead, you need to focus on where your company is on the journey toward your specific goals. Success, then, is determined by how close you are to achieving that goal, instead of a set of objective metrics that may not even relate to your business. Truly mature organizations are aligned on specific business goals and have metrics directly attached to those individual goals. They frequently check in on those metrics and take action to move the needle and tie that success back to their experience programs.
CX Metrics Question #2: How Can You Tie Metrics Directly to CX and VoC Programs Versus Other Internal and External Factors?
The important thing is to look at your organization and how they talk about success—and learning to speak that language. Are you a finance, operations, or retention-focused organization? And how are you integrating operational, technical, and financial data with customer survey data?
Organizations that are technically or engineering focused often look for an extreme amount of precision. But survey data doesn’t always lead to one answer—or the answer you expect. The real question is, “how do you pull information together and communicate that collectively?” As much as the mathematical connections are crucial, so are the practical ones.
Ultimately, metrics can be tied either statistically or practically, but the latter is much more realistic for a business. For example, the broader benefits when enabling an entire organization is hard to quantify but there could be specific benefits your program has contributed to make a project more successful. Maybe the insights your program provided can take accountability for 10% of the project’s effects. Then you can say, “it wasn’t all from our VoC or CX program but we get credit for that 10%.”
Want to learn about the 4 areas where we see CX practitioners tie their efforts to the bottom line most successfully? Check out this infographic!
CX Metrics Question #3: When It Comes to Survey Analysis, What’s the Best Practice to Analyze Which Attributes Are Affecting NPS?
Let’s say your organization leadership is focusing in on NPS—where you are, what drives it, and so on. So, you try structural equation modeling, key driver analysis, or heavy duty analytics. That approach is equatable to killing a mosquito with a sledgehammer. Instead, you want to break methodology down to core factors—using statistical analysis or text analytics—to see what themes come out and categorize them according to where your organization is.
Now, at an executive level, you might not want to communicate the “R-squared” of the modeling. Usually, executives just want answers to the questions, “what’s driving NPS?” and “what should I do with it?” Your job is to articulate the answers in a clear and simple way throughout the organization. That will drive your success from the top down. But of course, you should still have in-depth analyses prepared in your back pocket if you encounter someone who is statistically oriented.
Wrapping Things Up
You probably still have a bunch of questions of your own. Like, “what are the best practices to make sure you’re appropriately capturing feedback across the customer journey?” Or, “how do you focus on the experiences that make the biggest impact to the bottomline?”
If you’re looking for more resources and insight into CX metrics and ensuring your CX program delivers business value (ROI) to your organization, watch this webinar with third-party analyst firm, Forrester, to learn the answers.
E-commerce is one of the fastest growing industries of this decade. Thanks to COVID, digital roadmaps across industries have quickly accelerated. If you weren’t yet online, it didn’t take long for brands to adapt when brick and mortar businesses across Asia Pacific were forced to shut down in 2020 and 2021.
It’s not been easy for e-commerce brands. After a whirlwind of COVID-spurred digital transformation, rapid brand expansion, and supply chain woes, consumer expectations and their relationships with e-commerce brands have changed before our eyes. So what can these brands do to get ahead of customer expectations? The key is to dive into your customer data. And we’re here to help.
Tip #1: Rethink the Digital Customer Journey
Because of the rapid growth that businesses have undergone, e-commerce brands have not had an opportunity to slow down and evaluate the experience they are delivering. The acceleration of digital roadmaps during the pandemic has meant that many elements might have been half-baked. Now that the “new normal” is underway, e-commerce brands should rethink the digital customer journey.
Tip #2: Invest in Customer Care
A lot of businesses had to scale back their customer care teams during the pandemic because they couldn’t cope with the sheer amount of call volumes enquiring about updated delivery processes and updated policies. We saw in these times of crisis that much of customer care is related to the digital journey. When customers have an inquiry, you need to find ways for customers to self-serve or use technology to reduce the number of enquiries that need to involve your care team.
Tip #3: Upgrade Your Technology
Advanced technology is now available to intercept customers browsing on site, and ask them questions to understand their current experience. InMoment’s Digital Intercept solution has the ability to capture rich data from logged in users when they’re taking a survey.
You can also integrate InMoment’s Rapid Resolution Engine, which is designed to analyse customer verbatim in real time. The technology uses tags that are customised to your businesses to provide helpful links, ultimately resolving concern and complaints, or “solve in survey,” before customers have to call into the contact centre.
Tip #4: Collect All Pieces of Data Possible: Explicit + Implicit + Operational
Most brands are proficient at collecting explicit data like NPS scores and customer verbatim. But have you considered layering implicit data over the top of it? Implicit data points like customer sentiment, emotion, cursor movement, and more can help you paint a more accurate picture of the customer experience. As a final step, adding in operational data like customer value and segmentation will allow you to be really targeted to the best place to trigger a digital intercept along the customer journey.
For more on upgrading customer experiences in e-commerce, check out this eBook “4 Digital Quick Wins”
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