For each of your business needs, Retently has a Customer Experience metric that you can track. In this article, we will cover all the supported metrics, what they're used for, and how they're calculated so that you can choose the one that fits your goals best.
(NPS) Net Promoter Score
The NPS is commonly referred to as a loyalty metric, that helps you find out how satisfied customers are with your brand as a whole. Its main goal is to identify the things or processes that might affect a customer's satisfaction with your business as a whole.
Formula:
NPS = percentage of Promoters - percentage of Detractors
Benefits:
Identify customers at risk of churning.
Identify the most loyal customers and turn them into brand ambassadors.
Generate testimonials and reviews.
Identify idle customers and engage them.
Identify business weaknesses and strengths.
Common use-cases:
Send NPS surveys on a recurring basis to measure how your customers' overall experience with your business changes over time.
Send event-based surveys to measure how your customers' satisfaction with your business changes after a particular interaction.
Supported survey channels:
Email
Link
In-app
Intercom
(CSAT) Customer Satisfaction Score
CSAT is a more granular metric as it measures how satisfied are your customers with a particular service, product, feature, or interaction with your brand. For instance, if you're looking to improve a specific process (e.g., the onboarding, or customer support) or feature, then CSAT surveys will help you uncover what people like to dislike about them.
Formula:
CSAT = Number of satisfied customers / Number of survey responses x 100
Benefits:
Identify weaknesses and strengths in a particular product, process, service, etc.
Common use-cases:
Send CSAT surveys after a support ticket is closed.
Send CSAT surveys after a recent purchase.
Send CSAT surveys after the customer has finished the onboarding.
Send CSAT surveys after the customer has used a particular feature.
Supported survey channels:
Email
Link
In-app
(XSAT)
XSAT is a metric very similar to CSAT with the main difference of it being counting not the last response of a customer but rather all the responses. This metric can measure how satisfied your customers are with a particular service, product, feature, after an interaction with your brand. For instance, if you're looking to improve a specific process (e.g., the onboarding, or customer support) or feature, then XSAT surveys will help you uncover what people like to dislike about them.
Formula:
XSAT = Number of satisfied responses / Number of survey responses x 100
Benefits:
Identify weaknesses and strengths in a particular product, process, service, etc.
Common use-cases:
Send XSAT surveys after a support ticket is closed.
Send XSAT surveys after a recent purchase.
Send XSAT surveys after the customer has finished the onboarding.
Send XSAT surveys after the customer has used a particular feature.
Supported survey channels:
Email
Link
In-app
(CES) Customer Effort Score
CES is used to measure customer satisfaction levels by focusing on the efforts customers make to interact with your business’ services and products (solving an issue with customer support, making a purchase, signing up for a trial, etc.).
Formula:
CES = Number of satisfied customers / Number of survey responses x 100
Benefits:
Identify blockers in your customers' interaction with your business.
Common use-cases:
Send a CES survey after the customer has finished onboarding.
Send a CES survey after a long-term support ticket was closed.
Send a CES survey after the customer has engaged with a new feature.
Supported survey channels:
Email
Link
In-app
5-STAR Score
The 5-STAR rating scale is one of the most recognizable by survey respondents, and it is widely used to collect reviews on products (digital or physical) and services.
Formula:
5-STAR = Summ of ratings / Number of responses
Benefits:
Collect feedback about a particular product or service.
Common use-cases:
Send a survey to ask customers to rate a product.
Send a survey to ask customers to rate their interaction with a member of your team.
Send a survey to ask customers to rate a new feature that they've gotten access to.
Supported survey channels:
Email
Link
In-app
EMOJI Score
EMOJI surveys are similar to CSAT or even 5-STAR surveys. They're used to measure the happiness (or satisfaction) of a customer with certain elements of your business. For respondents, the appearance of the survey is more inviting and engaging, since the emojis are a better representation (when compared with numbered rating buttons) of the respondent's emotion towards the inquired topic. The main difference is that EMOJI surveys, as their name suggests, have emoji images as rating options, and the rating scale consists of three options.
Formula:
EMOJI score = Number of satisfied customers / Number of survey responses x 100
Benefits:
Measure your customers' level of happiness towards individual aspects or processes of your business.
Common use-cases:
Send a survey after the customer has interacted with your support team, and inquire about how happy they are with the provided support.
Send a survey after delivering a requested feature to a customer and ask how happy are they with the provided solution.
Send an employee survey to inquire about their happiness in working for your company.
Supported survey channels:
Email
Link
THUMBS Score
The THUMBS score is different than other metrics because it's calculated based on only two rating options: positive and negative. There is no middle (neutral) option, which means that your survey respondents have to give a decisive answer, and there is no place for doubts.
Formula:
THUMBS = Number of satisfied customers / Number of survey responses x 100
Benefits:
Achieve a higher response rate by offering your respondents a compelling two-step rating scale.
Collect feedback that you can easily act on since the yes/no survey format leaves no place for guesswork caused by neutral responses.
Common use-cases:
Send a survey after a support request has been closed to learn whether the customer's issue has been fixed or not.
Ask customers about simple interactions or processes in your company that usually can be answered with a straightforward yes or no.
Embed the THUMBS survey into an email message (such as a newsletter) or a helpful article to assess the relevance and usefulness of the provided information.
Supported survey channels:
Email
Link
(PMF) Product-Market Fit Score
The PMF survey is arguably the most important item in a product manager's toolkit. It offers a highly accurate way to determine whether your product has achieved Product-Market Fit.
To explain the survey's methodology in a few words, you're asking respondents how would they feel if they would no longer be able to use your product. Those that answer "Very disappointed" are people to whom your product is indispensable, and if their number is higher than that of those that answered otherwise, then you've got Product-Market Fit.
A PMF score of 40% or higher indicates that you've achieved Product-Market Fit in the surveyed audience segment.
Formula:
PMF score = Number of promoters / Number of survey responses x 100
Benefits:
Determine if you have achieved Product-Market Fit and if your product is sustainable.
Common use-cases:
Survey a particular segment of your audience that you're interested to learn how indispensable your product is to them.
If you're surveying your whole audience, then once you've collected the results, enrich your respondents' data with information about their industry, business models, job titles, or demographic information, in order to identify a segment where you have or can achieve PMF.
Supported survey channels:
Email
Link
Start measuring CX metrics
Now that you've learned about all the metrics Retently is supporting, and after deciding which one would fit your business requirement, the next step is to measure it by sending a survey.
Start with creating a new campaign on the Campaigns page. When creating a new campaign, you will be asked to choose a metric, the channel where the survey will be delivered, and a campaign type (e.g., recurring or event-based).
Each campaign will have its own survey template assigned, will send surveys on its own schedule, and will include other individual configurations such as notifications or autoresponders.
Resources:
Analyze survey responses
All of the collected responses will be stored on the Feedback page, where you can further manage them and collaborate on closing the feedback loop.
However, the actual scores will be compiled and displayed on the Dashboard, where you will see a score widget for each one of the metrics that you're tracking.
Resources:
What is a good score?
Once you start tracking a metric, a question will inevitably arise: Is my score any good?
There isn't a one-size-fits-all answer, and it depends on a few factors that we will list below to help you understand for yourself if you're on the safe side of the metric, of in things went south and you have to take action asap.
"Green zone"
The "green zone" is not an industry term, it's just a visual representation of your scores on the Retently Dashboard. The actual metric score that you see on the Dashboard is encircled with a colored scale. It can be red (bad), yellow (neutral), or green (good). Also, the scale will show you how close or far off you are from the lower or higher extreme of the metric scale.
Basically, your goal is to make sure that your score stays in the "green zone". But please keep in mind that the scale color indicator may not be a 100% representation of your customer experience situation, as it uses average reference values to categorize it by colors.
Benchmarks and competitors
If your score is higher than that of your competitors, then you're good. However, in some cases, it's close to impossible to know what score your competitors have, as only a small percentage of companies made this information public. Give it a try and scout the internet for your competitors' scores, and maybe you'd be in luck.
Otherwise, the next best thing to do is to compare your score with your industry's average. There a multiple publicly available industry benchmark reports available online (there are also paid ones), just make sure that you're comparing against the most recent report you can find.
Depending on the metric you're tracking, we might also have you covered. Our NPS report pages will display an average NPS benchmark for your industry.
Alternatively, you can check our own benchmark report: https://www.retently.com/blog/good-net-promoter-score/.
Score dynamic
Lastly, the best indicator of a good score or a score on its path to becoming good is growth. If you can't compare your score with your competitors' or benchmarks, then compare it to your past score, and take it one step at a time:
If a score is higher than 0, then it's already good, as it means that you have more satisfied customers than unsatisfied ones.
Make sure there's always a positive dynamic in your score. Retently has reporting tools that show the scoring trend over time.
Finally, once you've reached a high score, do your best to keep it there.