Consumers know what a “good” customer experience feels like—they are already getting it from brands such as Amazon, Google, American Express, and others. Customers are always comparing you with best-in-class brands—as well as with your peers—every time they interact with you, whether or not you are in the same industry or have the same resources.
Do you know how you compare? If not, your customer experience management program might be missing a vital component—benchmarking context.
Verint has more than 800 benchmark categories that help you:
- Understand how your customer experience compares to that of peers and best-in-class brands
- Set realistic and meaningful customer experience goals
- Know how much you need to improve—and how quickly
- Identify problem areas and justify investment in specific parts of the customer journey
- Engage executives in strategic conversations.
While many companies may allow you to collect voice of customer information, no other company can also provide the context for knowing whether a score is competitive. Only Verint has enough comprehensive data to provide a critical framework for understanding your key performance indicators (KPIs)—whether those are customer satisfaction (CSAT) scores, Net Promoter Scores (NPS),* Likelihood-to-Recommend, or any other model question score.
We’ve been doing it for more than two decades!
Verint benchmarks include a vast array of channel-specific categories, including:
- Channels—desktop, mobile, in-location, contact centre, fulfilment, and more.
- Industries (within channels)—retail, finance, insurance, utilities, public sector, healthcare, travel, etc.
- Languages (within channels)—English, Spanish, French, Portuguese, and many more.
- Experiences (within channels)—purchase, search, checkout, abandonment, plus many others.
- Other considerations—geographies, business types, and more.
Customer Experience Benchmarks Are a Key Component of CX Analytics
Verint’s predictive benchmarks are:
- Timely and inclusive: Published by day, week, month, or quarter, or customisable to a date range.
- Thorough: Available for all customer experience metrics across hundreds of categories and subcategories including channel, device, touchpoint, industry, country, etc.
- Omnichannel: Available for all the major customer touchpoints, including website, mobile site, mobile app, contact centre, fulfilment, store, branch, and more. For a complete picture of the customer experience, you should measure and benchmark the entire customer journey to illuminate which channels excel and which lag.
- Anonymous: Verint benchmarks are an aggregate of at least five unique clients in each category. Verint does not publish individual client scores.
Verint Customer Experience Benchmarks Provide ROI
Following are two of many examples of how Verint clients have used predictive benchmarks.
Justify a website redesign:
A health insurer had the lowest CSAT among its peers. The insurer used benchmark data to justify a complete website redesign—and subsequently saw a 17-point CSAT increase 15 months after the new site launched.
Prioritise iOS improvements:
A telco company’s iOS app’s CSAT scores were lower than its Android scores. With benchmarking data, it found that the 10-point difference was uncommon in the industry and indicative of a problem. The digital team made the iOS app a priority, and further analysis revealed specific areas for improvement.
Comprehensive benchmarks are important because customers don’t only judge you against your competitors. When you’re being compared to leaders in every field and at every stage of the journey, it’s critical to understand how you stack up.
When benchmarks are easy to access and integrated with all of your other CX data, you get a holistic view of omnichannel customer journeys that drives powerful decision-making.
Download the Verint Experience Management Benchmarks: Process and Methodology white paper to learn how customer experience benchmarks can help differentiate you from the competition.
*Net Promoter, Net Promoter System, Net Promoter Score, NPS and the NPS-related emoticons are registered trademarks of Bain & Company, Inc., Fred Reichheld and Satmetrix Systems, Inc.