One of the biggest mistakes measuring CX I run with our clients and also companies, in general, is that business people think that “NPS is enough” or that “customer satisfaction is the key”. Yes, in many ways both of those are true but alone that is not enough. If you would go about only measuring NPS from one point of your customer journey, you would come up with very skewed information about your entire customer experience, and if you go about making decisions about your business based on that data, you might end up in the completely wrong place.
This said, there are two things that we need to remember. First, measuring the entire customer journey is one of the main points that you need to remember but the topic of today is that what would be measured during that customer journey. NPS and customer satisfaction might be pieces of a puzzle but we will need to look beyond those.
It would be basically the same thing as you would be leading your company and measuring only 10% of your entire customer journey. Believe it or not, but 90% of companies are actually doing it!
Emotions and feelings are the biggest part of the customer experience since everything is tied to them, starting from the willingness to recommend and customer satisfaction. Emotions grow or deteriorate value for a business. This also happens in a way that you don’t even notice it if you are not paying attention to it.
“Emotions grow or deteriorate value for a business.”
Emotions are the key drivers that make it or breaks it when it comes to our desire to buy or not to buy. Even more than that, if we have decided to buy, we choose which company to do business with based on the experience and what emotional drivers are behind it. Today, a whopping 46% are saying that customer experience is the main driver of the purchase decision where pricing is only 20%.
So what we really need to do is to consider the motion and for that, we need to measure Emotional Experience. There are a lot of different ways to measure emotion but to really find a standardized model we have only one way to actually do that. The reason for this is that rarely in businesses or as a customer you would feel emotions like “grief” or “love”, so for that reason, we can determine the main emotions that we need to measure into the Emotional Value Index (EVI®) as an index that measures the level of emotion that drives your sales. So it’s essentially turning something that is not linear into a linear index that you can then optimize your business to drive better results.
“We can determine the main emotions that we need to measure into the Emotional Value Index (EVI®) as an index that measures the level of emotion that drives your sales.”
Measuring is fairly easy and you would use the question “Please select the emotion that best describes your emotional state regarding…” and you would give the options of selecting the emotion on a circle form. There are 8 main emotions plus an indifferent option to choose from. Using this type of circular form is really important as the emotions are not linear even though they might be positive or negative by nature.
“You would use the question “Please select the emotion that best describes your emotional state regarding…” and you would give the options of selecting the emotion on a circle form.”
From here, we can then calculate EVI® as an emotional experience index that describes the state of the emotions that your business and services are creating for your customers. Measuring Emotional Experience is fairly simple. You just need to remember to follow a couple of main rules and principles on how to do it, and if you want to turn it into a real KPI, we recommend you using the EVI® question explained above, so you can get the most accurate and benchmarkable results.
One way or another, the industry is moving towards measuring deeper emotions, and that is a good thing! The next big thing is to dive deeper beyond the current KPIs and introduce something that explains more emotions than anything else.
Check out this article to learn how to calculate the EVI®.
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