The way we build brands in this new era has transformed.
It’s up to you to make sure your brand measurement methods align with this, while delivering the key information leadership want…
What progress is being made?
What’s working and what isn’t?
And most importantly, why?
“The key to getting brand tracking in good shape is a focus on the people you are targeting. Ensuring you have clarity over your people objectives for your communications as distinct from the specific campaign, brand or business objectives.” - Caroline Walker, Ipsos Connect
Here, I take a closer look at what you need to set your business up to measure the right things from the start...
3 parts of brand measurement
There are three key things to remember when measuring your brand…
1. Combine customer experience and brand building measurements
Collect data from a range of audiences, across different platforms and from different sources.
Ultimately, this is any live data that is going to enable timely and accurate decision making. It’s only when you’re armed with this data that you’ll be able to drive the behaviours of your brand builders, identify all key issues and build a predictive model of both customer and business behaviours.
2. Make it easy for employees to understand
If your entire business - from front of house to leadership - don’t understand what’s been done and the impact it has had, they will not engage with or back any aspect of the initiative.
You should be able to create a dashboard using the data you’ve collected, which clearly outlines the progress that’s been made, the results and the reason behind the results.
Enabling your team to see and understand this information will help to define the meaning of ‘success’, consistently across the organisation. Regardless of their role, people will become more inspired to drive ‘success’ and deliver the brand’s vision.
3. Deliver real business benefit
There is a purpose to measureing your brand - to deliver real business benefit.
Measurement tools need to drive action; enabling the business to make accurate and timely decisions while capitalising on opportunities and preempting problems.
A robust measurement system will empower your company to monitor brand strength and guide improvement.
Improving your customer experience positively impacts the bottom line.
But to deliver value to the customer and the business at the right cost, you need to know exactly where you are on your journey and why.
A suitable suite of KPIs
To improve upon something, it must first be controlled.
To control something, measurements are required.
And customer experience is no different.
Your business provides an experience, satisfies the customer, and builds a relationship that ultimately translates to conversion.
Monitoring the health of your business requires measuring customer experiences and understanding which KPI to select to enhance them.
With the right KPIs, you can recognise the direction your business is going and whether or not your customers are satisfied with your service.
To date, much of the learning regarding metrics is centred around what works best for a particular business and its objectives.
One thing is for certain though…
In the digital age, multiple, short, concise and intelligent conversations with customers are the key to successful customer experience analytics. The days of lengthy, one-size-fits-all, single surveys as a means of collecting customer feedback, are long gone.
Organisations need to know which KPIs they should use for tracking customer experiences and which they can ignore. After all, the intelligence gained from these KPI categories can be used to address issues of various stakeholders.
For example, when discussing funding for a project to improve customer experiences, the customer equity KPI may be used to demonstrate a return on investment.
Whereas quality - or efficiency - focused KPIs would make more sense when improving customer experiences at the point of customer interface.
The choice is yours
But with so many to choose from, where do you start?
Key Performance Indicators for customer experiences can be seen as falling into two broad categories.
The first category describes the type of data it is derived from.
This can be perceptions or sentiments, such as emotions. And it will be different for each individual customer.
Data can also be operational in nature, such as the number of visits to a website or traffic/volume at help desks.
These are also known as Quality KPIs, for example Customer Satisfaction Index (CSI) and Net Promoter Score (NPS) or Efficiency KPIs – volumetrics, such as number of visits or number of calls, or rates, such as customer retention and conversion.
Join us next time as we review all of the KPIs for customer experience.