Happy Customers are your Greatest Advocates
Find out how the Customer Equity Index can help you drive smarter customer experiences and stronger customer loyalty.
Introducing the Customer Equity Index
A Cloud-Based Loyalty Benchmarking and CX Analytics Solution
Overview of the Customer Equity Index
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The Customer Equity Index (CQi) helps you understand the quality of your Customer Experience (CX), how you compare to competitors and what you need to focus on to improve your customer experience and drive loyalty.
The Index provides deep and actionable insight so that you can prioritise the investments that will have the biggest impact on customer loyalty. Because, the better the experience, the more likely you are to win and retain customers and create loyal brand-advocates.
The CQi is delivered via a combination of our always-on cloud dashboard and an engagement programme with a StratMetrix team of CX experts.
The Cloud Dashboard delivers valuable customer insight about the quality of your customer experience:
Deep, holistic CX insights
Understand the quality of the experience that you provide to your customers and how that impacts their loyalty
Actionable CX drivers
Get the why behind your CX performance: which journeys need to be improved and how to prioritise those improvements
Revenue at risk Modelling
Illustrate the impact of revenue at risk through poor customer experiences and defections
Customer benchmarking
See how you measure-up to customer expectations and where you can improve
Competitor benchmarking
See how your CX performance compares to your competitors’ and where you can differentiate
Industry benchmarking
See how your CX compares to the rest of your industry and where you can drive change
Cloud Dashboard Overview
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The Customer Equity Index provides a complete view of your CX performance by giving you real-time visibility into the dynamics of your customers and your competitors.
The analytics are primarily organised into five discrete areas:
With Customer Equity Index dashboards, you will gain a high-level understanding of your CX quality and how it impacts customer loyalty; a preview of how you compare to your competitors; how you perform on priority drivers – industry specific factors that reveal the why behind your score – and a snapshot of your business impact modeller which allows you to model the revenue impact of your CX improvement initiatives.
Also, you will see how your score compares to industry average, as well as to CSAT, NPS and CES scores. On top of the generic CX scores, the dashboard will show you a proprietary CQ index as a score between -100 and +100. The higher your CQ index score, the more your customer experience helps you build and retain loyal customers.
The CQi cloud system has a benchmarking dashboard that will give you tailored insights into how you rank against your competitors by filtering your results by the segments that are most important to your business. This way, you will know both the detail of your own customer experience and where your competition is outperforming you, or vice versa.
An all-industry score bullet graph
The CQi Score tab allows you to drilldown into your CX quality and see how your customers scored their experience with you from very poor to excellent.
It is one thing to know your current standing – in CX quality and performance – and another to understand your strongest CX Drivers. On this dashboard, you can examine the performance of your CX drivers as compared to the industry, your competitors and your customers’ expectations. Your top scoring drivers show where you are excelling and low-performing drivers reveal where you could improve.
Our advanced, statistical engine will also show you the magnitude of importance for each measured, customer experience area.
The business impact simulator allows you to model the impact of better CX. Adjust the goal score for your priority drivers, enter your current number of customers, and see how improving your CX will increase your scores and drive incremental loyalty. This will give you vital information for CX business cases.
Engagement Programme
How We Work With You
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From Strategy to Execution.
StratMetrix, the company behind CXBenchmarks.com, is a full-service consultancy that delivers insight and drives action to increase customer loyalty.
We do this through our Customer Equity Index (CQi), which helps brands to collect, analyse and leverage customer data, across the customer journey, to maximise customers’ emotional equity and, therefore, their loyalty.
We specialise in customer retention, wherever it is effected, in service-oriented environments.
Our Professional Services help clients to succeed through expert business consulting and industry experience, proven implementation strategies, and experienced project management. We offer a wide variety of custom-tailored solutions to provide an implementation strategy that meets specific client requirements.
The Three Phases of Engagement
1 - Discovery & Strategy
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Acquiring ‘Insight’ involves, firstly, weaving together relevant knowledge, within a commercial and customer context, in response to specific business needs.
Part of this is customer research and data collection, but firmly grounded in understanding the client’s business and in mapping out what is needed to meet specific objectives.
As such, we draw on much wider insight capabilities than typically associated with full service research agencies:
- Business consultancy skills for problem definition and unlocking ‘implicit’ stakeholder insights
- Quantitative and qualitative research capabilities to reach out to market
- The ability to harvest digital debate: social media and natural language
- Deep customer experience expertise – to place all things firmly into the customer-context
All of these contribute to building a strategy – a plan for how to exploit the Customer Equity Index to your competitive advantage. And, having created a road map for our client’s business, the crucial next step is to support them whilst implementing this plan.
2 - Insight
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Using customer insight to measure performance, and impact on business outcomes, is far more than just ‘running statistics’ on data. Rather, we draw on the expertise and experience of a team of econometricians, modelling experts and business analysts to work alongside our clients.
A large part of this involves joining up data – between the work we do and our client’s systems – to provide actionable links. Part of this involves drawing on a toolkit of commercial analytical tools to conduct:
- Collaborative analysis sessions
- Linking recommendations to acquisition, retention, cross-sell, up-sell and cost
- ROI forecasts
- Simulation scenarios alongside decision makers
- Business case development and validation
Having identified valuable insight, we then formulate appropriate insight-led action-plans.
3 - Insight-Led Action
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‘Action’ involves moving from powerful insights to commercial direction. It is the ability to prioritise and monetise conclusions, carving out a profitable path forward.
Great planning is only as effective as its execution. This means inspiring stakeholders, achieving data cut-through and managing actions to create profitable results.
In today’s data-rich, rapidly shifting business environments, traditional methods of doing this often fail to excel:
Execution is therefore central to the Stratmetrix way of working, with a number of proven capabilities:
- Change & project management experience for large, multi-channel organisations
- Cross-functional collaboration methods
- Stakeholder management
- Director-level industry experts, versed in leading board-level workshops, tying project implications to cross-functional workstreams, from HR, to systems and Finance
We draw on these Action capabilities to flexibly underpin everything we do.
Contact Us to Learn More
Reach Us
One Alfred Place
London WC1E 7EB
+44 (0) 207 307 9978
hello@stratmetrix.com