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However, with these investments comes the critical need to measure the effectiveness of the training programs and the return on investment (ROI) they deliver. Understanding Training ROI Investing in training without assessing its impact is akin to setting sail without a defined destination.
There is place in the world for performance benchmarkingsurvey metrics like net promoter score (NPS). There are many obstacles and detours that can prevent full ROI from your CX program. Going slowly when you don’t intend to is clear evidence that the program has slipped into neutral in the leadership camp.
The company saw these findings as further evidence that continuing to invest in improving employee engagement would have a positive ROI for the business above and beyond simply having happier employees. Working with two Fortune 100 companies, we looked to test the assumption that highly engaged employees are more productive.
When all the Venns, funnels, PowerPoints, histograms, flowcharts, and scatter plots are set aside, however, something remarkable becomes evident: While there are two dozen CX ROI metrics to track, companies need only focus on four. The “Four Gold CX ROI Metrics” webinar was the final episode in the three-part series hosted by ECXO.
There’s a similar assumption underlying much of the discussion around how to measure the return on marketing investment, where it seems to be tacitly accepted that attitudinal insights are insufficient at senior decision-making levels, and behavioral insights represent today’s benchmarks.
Meanwhile quantitative research methods—including surveys, website analytics and CRM data—can provide broader stroke insights that inform a deeper understanding of customer preferences and receive feedback on your current CX. 3 questions to ask during this step: What metrics will you use to benchmark and improve the customer experience?
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