There are many non-financial Key Performance Indicators (KPIs) that may be relevant to your business, below we have included some of the KPIs that are commonly used to track and monitor and control Customer Satisfaction
As with all KPIs and goals in general, ‘less is more’, so ideally you will select the handful of KPIs that are of greatest importance to the business to track and report on at top level management. The further down the organisation you go, some of the more granular KPIs are likely to be ideally for middle or junior level management and of course for staff on the ‘shop floor’.
The list below is not intended to be comprehensive; this is provided purely to help with the process of selecting those KPIs that are most relevant to your unique circumstances.
Definition: A measure of customer loyalty and willingness to recommend the company’s products or services.
Importance: High NPS indicates strong customer satisfaction and advocacy, driving repeat business and referrals.
Definition: A direct measure of customer satisfaction with a product or service, typically gathered through surveys.
Importance: High CSAT scores reflect positive customer experiences and can predict future loyalty.
Definition: The percentage of customers who continue to do business with the company over a specific period.
Importance: High retention rates indicate satisfied customers and long-term business stability.
Definition: The percentage of customers who stop doing business with the company during a specific period.
Importance: Low churn rates suggest effective customer satisfaction strategies and strong loyalty.
Definition: The average time taken to respond to a customer inquiry or issue.
Importance: Faster response times enhance customer satisfaction by demonstrating responsiveness and care.
Definition: The average time taken to resolve a customer issue or complaint.
Importance: Shorter resolution times improve customer satisfaction by addressing their concerns promptly.
Definition: A measure of how easy it is for customers to interact with the company and resolve their issues.
Importance: Lower effort scores indicate a smoother customer experience, leading to higher satisfaction.
Definition: The percentage of customers who make multiple purchases over a specific period.
Importance: High repeat purchase rates reflect strong customer loyalty and satisfaction.
Definition: The total revenue a company expects to earn from a customer over their entire relationship.
Importance: High CLV indicates long-term customer satisfaction and profitability.
Definition: The amount of feedback received from customers, including surveys, reviews, and direct comments.
Importance: High feedback volume provides valuable insights into customer preferences and areas for improvement.