There are many ways to measure your organization's customer experience, from quantitative surveys to qualitative interviews and reviews. When it comes to identifying areas for improvement, however, there are a few key metrics your organization should be tracking on a regular basis. Most organizations are familiar with Net Promoter Scores (NPS) and Customer Satisfaction Scores (CSAT). But one of the more overlooked metrics is the Customer Effort Score (CES). Customer effort measures how easy or difficult it is for a customer to interact with your organization. In other words, how much effort does a customer need to expend to accomplish a particular task?
Losing business to customer churn is a notorious challenge in the insurance space. Part of what makes this loss so difficult is trying to determine why your former policyholders are leaving – an investigation almost as frustrating as the churn itself.
There are a few common reasons for customer turnover, some of which are out of your control as an insurance provider. But, fortunately, one of the primary drivers of churn is something that your organization can actively address and impact: customer frustration.