Customer Experience KPI every Business Developer should know

What is Business Development?

Lots of companies measure Customer Experience but, what about Prospect Experience?

A 2012 Corporate Executive Board (CEB) study found Prospect Experience (PX) was the most important phase of the customer journey.

54% of 5,000 buyers rated PX as the biggest factor shaping their loyalty to a corporation.

Only 19% stated Product or Service drove loyalty, price was the lowest, 9%.

The prospect’s journey between the Awareness and Conversion Phase is critical for establishing Baseline Expectations.

Failure to meet expectations in the Success and Growth Phases results in poor Customer Experience (CX).

Poor CX decreases or destroys trust resulting in poor growth.

TRUST = Customer Experience (CX) – Prospect Expectations (PX)

Here are Key Performance Indicators (KPI) business development teams can use to measure Prospect Experience.

Customer Effort Score (CES):

CES enables the BD team to pinpoint specific pain points asking questions like, "To what extent do you agree with the following: The website Product Purchase Page made it easy for me to Purchase the Product."

Customer Satisfaction Score (CSAT):

This KPI asks the customer or prospect how satisfied they are with a specific point in their journey with questions like, “How satisfied were you with [name of the product, service, corporation, or touchpoint]?”

Employee Effort Score (EES):

EES measures an employee’s effort to deliver the desired PX.

Research from Forbes and Salesforce shows that 89% of executives at growth corporations agree that Employee Experience (EX) directly contributes to business growth.

Employee Satisfaction (ESAT):

ESAT measures employee satisfaction asking the same question like CSAT.

Product Satisfaction Score (PSAT):

Measures a prospect’s satisfaction with the valuable information BD provides to prospects and identifies improvements.

Would You Miss Us? (WYMU):

Asks the prospect would you miss the brand if the journey suddenly ended.

WYMU is a good indicator of loyalty and how willing prospects are to provide referrals to their friends and colleagues.

KPI metrics should be synchronized with the customer journey.

These "In the Moment" queries help the customer easily recall the experience.

It also enables the BD team to respond rapidly to issues and improvements.

Queries should be conducted when the prospect transitions between phases of the BD value chain since transitions are usually the highest risk to success.

PX is the most important part of the Customer Journey.

Measure it to maximize growth.

Tony Gray, BDP

P.S. learn more in the “Business Development Body of Knowledge”
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