The metrics of success are undergoing a significant transformation as businesses pivot to this more customer-centric, AI-driven era. While traditional metrics like NPS will always have their place, they can sometimes limit a company's ability to focus on ROI opportunities. The emphasis is shifting from mere 'metrics' to 'meaning'.
It's not just about the quantitative value of metrics like NPS; businesses want to understand why specific trends emerge, especially when these metrics indicate a drop.
This shift promises that businesses are not just measuring numbers but truly comprehending the stories behind them. The biggest mark of a company's success isn't just the metrics but how customers perceive it, an oft prophetic sentiment into its financial well-being and future.
AI enables this shift, allowing businesses to transition the conversation from static numbers to understanding the deeper narratives behind them. It does the job when vast amounts of data are present, and sifting through them isn’t feasible.
By harnessing more diverse signals, companies can delve into critical questions like: Why aren't customers returning? Why are employees departing? Where are financial leakages occurring?
This evolution promises that businesses are not just measuring numbers but truly comprehending the stories behind them. KPIs that seamlessly integrate financial, operational, and CX insights will be at the forefront. Other traditional metrics, which historically may have shown limited correlation to tangible outcomes, will be complemented and, in some cases, overshadowed by more actionable, AI-driven metrics.
Integrated CX introduces a fresh suite of metrics that not only gauge performance but also unearth insights pivotal for business growth. By leveraging these advanced metrics, businesses can ensure a more nuanced understanding of customer experiences, aligning their strategies more closely with customer expectations and ever-shifting market dynamics.
In today's data-driven age, it's not just about metrics like NPS, but, more importantly, why specific trends emerge. An NPS may not reflect the subtle nuances; customers could be undergoing pivotal changes in their experience, often lurking in the shadows of unstructured data. Relying solely on high-level metrics is like skimming the surface, missing the depth underneath. To delve into this evolving realm, the potency of AI is indispensable, especially when sifting through vast swaths of unstructured data.
On a separate but related note, the true predictor of a company's future success is best conveyed by metrics that reflect the voices of its customers. The very essence of this can be seen with companies like Apple, who take pride in their high NPS and don't shy away from mentioning it. In essence, the future will see companies leveraging metrics for internal betterment and as a badge of honor, showcasing their strong bond with their customer base.
Sandeep’s greatest passion is to help customers be successful by building SaaS products that InMoment customers love and using his leadership and experience to incorporate customer needs into both organic product innovation and acquired technology. Prior to joining InMoment as its Chief Product & Technology Officer, Sandeep served as SVP of Product at Medallia. He also led cutting-edge product development at SAP, Yahoo!, and other well-known brands.
