What is Customer Experience (CX) Market Research? | Company in NY

Customer Experience or CX has become a hot button topic in market research over the past 5 years. Some market research companies interchange the term with just plain market research but the foundation of CX is different from ad-hoc market research.

CX implies an experience, not a single transaction, single relationship, or single survey. The goal of CX is to map out a customer journey and understand a multitude of touchpoints that impact motivations, loyalty, and engagement. CX is not 2 focus groups. CX is not 1 online survey. CX is not 10 in-depth interviews (IDIs). CX implies a full experience so think longitudinally.

In one of my past client-side roles, my job was to build out a CX program for a global manufacturing company. This involved a series of surveys across enterprises. The surveys spanned from general loyalty and relationship surveys to transactional surveys after an order was placed. Each of those are 2 very different experiences with different motivations and a different impact on the CX. Several other touchpoints were identified for Wave II of the launch.

Each CX impacted Net Promoter Score (NPS) separately. We even incorporated an employee survey to understand employee motivations and satisfaction which directly impacted customer scores. It was a comprehensive global CX program that aimed to collect and benchmark data on a regular basis. Not a single one and done survey.

That's the difference.

CX is about understanding the customers' experience in its entirety and across channels.

Customer Experience (CX) market research aims to understand the entire customer journey by measuring each and every touchpoint and stop along the way. These measurement mechanisms allow a market research company and client to understand the impact each touchpoint has on the overall customer experience. It enables companies to prioritize touchpoints that impact loyalty.

What is Customer Experience (CX) Market Research? | Company in NY

Feature 1: Multiple Touchpoints

As mentioned above a CX program or CX market research is not 1 single project. It involves a number of surveys, social monitoring tools, trackers, and potential qualitative tie-ins to understand the entire customer journey. The CX program collects data and feedback for each individual touchpoint.

Struggling to understand how to choose customer touchpoints? Read more here.

Feature 2: Cross-Analysis

Analyzing all of those touchpoints is not enough. Tying those metrics together across channels is the key to truly understanding what drives customer loyalty. For instance, a CX program can identify root causes that impact NPS or customer loyalty.

Let's say your mobile app is a polarizing touchpoint. Customers love or hate it. Those who love the mobile app are more likely to bank more often online. Those who bank more often online and are happy withe mobile tools engage stronger with Facebook and Twitter. Those who engage more with social are more likely to influence others to try the bank or credit union. This also ties to a strong NPS.

That's 4 different measured customer touchpoints that tie together with the mobile app being the linchpin to increased share of wallet and high likelihood to recommend.

Feature 3: Longitudinal

CX implies continual. We are not talking about a survey once every 18 to 24 months. We are talking about regular daily, weekly, or monthly surveys depending on how often customers engage with your brand.

If you use Oracle or another system for invoicing, many CX programs can automate survey invites immediately after an experience through the API. This means if someone places an order through your website online, a survey can be sent directly to their inbox to follow-up on the experience immediately.

How's that for immediate feedback?

Feature 4: Case Management and Immediate Action

What good is market research or CX data unless you can take action? Setting up a case management or ticket system with your CX program is essential.

What do we mean?

We mean that if a customer has a poor experience or the experience falls below expectations on a specific question, the CX program alerts the team through an email or flagged case. This gives the CX team the opportunity to immediately follow-up with the management or sales team so the issue can be addressed.

A simple example here is if you ask likelihood to recommend on a 0 to 10 scale. If a customer answers less than 7, you can set up a filter and alert in your case management to notify team members.

Without a CX program that measures the pulse of customer touchpoints, issues like these can get lost or never be found. Knowing about these issues gives your company a chance to correct the problem before it is too late.

Contact Our Market Research Company

Drive Research is a customer experience (CX) market research company in NY. Our team works with clients across the country in a variety of industries to build out custom market research and CX programs.

Contact us at [email protected] or call us at 315-303-2040.

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