Thanks David, there will be a correlation between high customer engagement & satisfaction scores and financial performance (through increased upselling, cross-selling, lower customer churn etc).
From a customer satisfaction perspective, I think the only alternative would be CSAT, or if you are in the healthcare industry, maybe some kind of patient satisfaction survey.
Depending on the industry, I'd say one of the best indicators of customer engagement would be activity metrics.
You could look at several activity metrics across the full customer lifecycle (adoption, activity, usage, churn) and try to measure an overall "Customer Health" index which should be a good proxy for high customer engagement.
An interesting article. I remember reading years ago about an investment strategy of buying stock in companies who had a high NPS.
Thanks David, there will be a correlation between high customer engagement & satisfaction scores and financial performance (through increased upselling, cross-selling, lower customer churn etc).
What would be a couple of KPIs which can come close to substituting NPS?
Thanks for the question!
From a customer satisfaction perspective, I think the only alternative would be CSAT, or if you are in the healthcare industry, maybe some kind of patient satisfaction survey.
Depending on the industry, I'd say one of the best indicators of customer engagement would be activity metrics.
You could look at several activity metrics across the full customer lifecycle (adoption, activity, usage, churn) and try to measure an overall "Customer Health" index which should be a good proxy for high customer engagement.