Customer Experience Quotient (CXQ®)
Measures the performance of your key customer experiences against the competition.
The Customer Experience Quotient (CXQ®) is a powerful metric to know whether your firm’s customer experience efforts please or disappoint customers and thus whether you’re taking advantage of financial opportunities or leaving them on the table. Integrated at the point of interaction with customers, the metric is calculated from customers’ direct response to three questions about the experience they just had with you. It assesses the simplicity in getting the information, the relevance of the information, and the trustworthiness of the information / service.
Why it’s important
Customer experience is now considered as the most important commercial discipline in the pharma industry. Next to channel metrics, content consumption, and overall reach, your customer engagement measurement framework should also include external metrics directly taken from the voice of the customer. The CXQ® provides a very strong measurement framework that gives you these insights and provides the ideal feedback loop to your service design, content strategy and channel engagement choices. As part of the CXQ® program, we can reveal how well your customer experience performs against your competitors based on the same key customer experience qualities – trustworthiness, relevance, and simplicity. We also link your CX performance to critical business metrics like retention and reputation and customer behaviour like belief about your products and next actions.
What it provides
- A tried and tested industry-specific metric, capturing customers’ perception of their experience with your brand(s)
- Immediately actionable insights on how to improve your customers’ experiences
- A tracking tool to measure and plan customer experience improvement efforts
- A path to show the revenue impact of customer experience investments
- Peer/competitive benchmarks
You can license our proprietary Customer Experience Quotient (CXQ®) methodology to run highly customized surveys with your customers and engage with DT Consulting team of CX experts, who work with you to interpret your data and to close the loop to deliver business impact.