Setting Targets for Measures of Customer Experience and Loyalty
Most organizations that invest in measuring customer experience and loyalty ultimately wrestle with the question of where to set the bar for key customer metrics. Quite often, important decisions regarding allocation of resources and/or reward and recognition are based upon whether such targets are met.
In this paper, we talk about three approaches that can be used for the purpose of target-setting:
- Linkage-based approach
- Judgement-based approach
- Comparison approach
We examine each approach in detail and give feedback based on our customer experience expertise, helping managers know where and how high to “set the bar” for measures of customer experience and loyalty. Managers need not play “pin the tail on the donkey” in an effort to select the “right” target for measures of customer experience and loyalty. They can remove the blindfold by adopting a different approach to setting such targets.
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