The rate that a customer will leave items behind often in a virtual shopping cart or the rate the customers stop completing a survey part way through.
This is a connection between computers or between computer programs.
The average amount of money that customers spend when they place an order.
Average Resolution Time (ART) is how quickly a customer success team is able to resolve an issue that a customer is having.
Average Speed of Answer (ASA) is the average time that a customer success team answers customer queries.
Brand Advocate's are your top customers, they love your product/ brand and are often very brand loyal.
Closed Loop Feedback is the process of making sure you replied to customer feedback, addressed the issue and responded to the customer with your solution.
Cloud Infrastructure is the hardware and software components, such as servers, storage, networking, virtualization software, services and management tools, that support the computing requirements of a cloud model.
Cloud Spanning is the interlinking of different clouds and services together to build a stronger network.
Company Culture is how the employees of a company feel about working there and the overall work environment. It is very important to have a good company culture so employees enjoy coming to work and feel appreciated for the work they do. To learn about Benbria's culture visit our culture page!
Conversational Feedback is customer feedback that's given through chat channels/ direct messaging. It is a great way to receive feedback as you are able to ask direct questions about the customer’s feedback.
Conversion Rate is the percentage of people that enter a store or visit a website compared to the amount of people that make a purchase.
Cross-Channel ensures that a brand has presence on multiple platforms to ensure maximum and consistent brand exposure.
Custom Dashboards are rich with visualizations for curating surveys, conversion and ticket insights to summarize results for your CX initiatives breaking experience data down by location and/or room.
For more information about Dashboards within Loop click here.
Customer Acquisition Cost is how much it costs to gain a new customer. This includes everything from promotional costs, pay per lead campaigns and social media campaigns.
Customer Analytics is when you analyze statistics on customers to gain better insights as to who your customers are and the purpose behind their purchase.
Customer Behaviour Index (CBI) is a metric used to measure customer engagement by measuring website or in app activity.
Customer Churn Rate is the percent of customers lost in a given time period.
Customer Effort Score (CES) is a metric that measures how much effort a customer has to exert to get an issue resolved, request fulfilled, a product purchased/returned or a question answered. A good Customer Effort Score is a sign of great customer service. For more information about Customer Effort Score (CES) please click here.
Customer Engagement is how customers interact with a brand, either virtually or in person.
Customer Experience (CX) is about each customer’s perception of your company, brand, and product. This perception is based on all the interactions that customer has with your employees, brand, messages, and product across every channel.For more information about Customer Experience (CX) please click here.
Customer Experience Management (CEM) is when you manage a customer’s experience to ensure a positive view of a brand across all platforms.
Customer Experience Strategy is an approach to ensure customers have a positive experience with a brand and making customer experience the top priority.
Customer Feedback are comments made by customers that gives insights about what they think about a brand or product.
Customer Insights is information about a customer base that could help determine their purchasing decisions.
Customer Journey is the path that a customer takes through a brand. There are typically 5 steps:
Customer Journey Mapping is the mapping out what each step of the Customer Journey looks like for your products/ brand and how to help encourage customers from one step to another.
Customer Lifecycle is the total time that a customer spends within your brand and how they move from awareness of a product/ brand to a loyal customer.
Customer Lifetime Value is the total worth to a business of a customer over the whole period of their relationship. It’s an important metric as it costs less to keep existing customers than it does to acquire new ones, so increasing the value of your existing customers is a great way to drive growth.
Customer Loyalty is how supportive of a brand customers are and how likely they are to stay with one brand vs flip flopping to a competitor.
Customer Relationship Management (CRM) are tools for managing a customer relationship with a brand often to ensure that customers have a positive experience and become loyal customers.
Customer Retention Cost is the amount of money that it cost to keep customers in the customer lifecycle.
Customer Satisfaction (CSAT) is how satisfied customers are with a company’s product or service. This is often one of the Key Performance Indicators as it shows how satisfied customers are with a company’s products, services, customer support and brand. For more information on Customer Satisfaction (CSAT) please click here.
A dashboard is a quick glance Key Performance Indicators (KPI) from a website or survey typically displayed in a series of graphs and number overviews. It will indicate how well these KPI’s are performing and if they have increased or decreased in a particular time period. For more information on dashboards please click here
Digital Transformation is the impact of digital technology across all aspects of a business and how technology is changing the business.
Direct Feedback is specific comments directly from the customer related to a particular product or brand.
Employee Experience is your employees experience working for a company. Ensuring that employees are happy and enjoy their work is important, as they are your top brand ambassadors.
Engagement Loop is the convincing of customers and prospects to continually engage with your product and gain insight in product use with engagement methods. Keeping a customer consistently engaged with a brand or product is important as it keeps a brand top of mind and ensures customer loyalty.
Feedback Survey is a survey given to customers that provides insights to a business based on the brand or product. For more information about Feedback Survey's please click here.
In-Product Call to Action indicates the purchase intent of prospects and aids in the conversion of prospects of Product Qualified Leads (PQL’s).
Key Performance Indicators (KPI's) are metrics that a company uses to measure a brand’s success long term. They are tracked over a long period of time to show continual growth and improvement.
Loyalty Loop is the continued process of delivery sustainable value and customer experience to keep customers using the product and adopting new features.
Net Promoter Score (NPS) is a widely used market research metric. It typically takes the form of a single survey question asking respondents to rate the likelihood that they would recommend a company, product, or a service to a friend. NPS is a great way to measure the loyalty of customers to a company. For more information about Net Promoter Score (NPS) please click here.
Net Revenue Retention Rate is a metric that calculates the percentage of revenue retained from existing customers over a specific period of time (usually monthly or yearly), including upgrades, downgrades, cross-sells, and cancellations.
Omni-Channel is an approach used to communicate with customers using a variety of channels. This can include social (Facebook, Instagram, Twitter), Traditional (email and text messages), or digital (chatbots, embedded forms). This will allow you to be where your customers are and increase customer loyalty.
To learn more about the difference between Omni-Channel check out this blog post.
Personalization is a customer’s ability to personalize certain aspects of their purchase. In the digital world ensuring customers are able to customize their purchase can be incentive for a customer to finalize a purchase.
Product Champion is an individual or customer who is most engaged with your product, they will be very brand loyal and expects similar or better quality products from a brand.
Product Qualified Leads (PQL) refers to a prospect who has indicated they are interested in purchasing a product. This indication can be based on previous product interest, usage and behavioural data.
Prospect (User) Onboarding is how a prospect goes from initial signup to initial value to PQL status. It is intended to assist users in quickly becoming familiar with the product. It can including walking them through how to use a product.
Response Rate is what percentage of customers respond to a survey. This will let you know if it is quality research that you are able to use or if the sample size is too small.
Retention Rate is the percentage of customers that come back and continue to shop with a brand. Ensuring customer retention rate is high is important because it is easier to upsell an existing customer than to acquire new customers.
Reviews are both positive and negative feedback about a brand or product that customers leave for others to see. Ensuring a company responds constructively to reviews is important to show they care about what customers think of their brand.
Root Cause Analysis is looking at the overall feedback from customers and figuring out what the reason is for the feedback and making changes if necessary.
A SAAS Company is a company that specializes in selling Software as a Service (SAAS). Some examples of successful SAAS companies are: Microsoft, Hubspot, Slack and Salesforce.
Sample Size is a term used in market research term. It's used when a company surveys a percentage of their customer base. This data is then extrapolated to the entire customer base.
Service Level Agreement or SLA is a term used to describe your policy on how long until issues get resolved, customers get responded to or other time sensitive matters are dealt with. Having an SLA is important customers know you will respond to them in a timely manner and address the issues. It also helps to keep your team accountable and can be measured as a Key Performance Indicator (KPI). SLA's are something every customer service oriented company should have in place.
SMART Goals is a method to set targets. SMART stands for Specific, Measurable, Achievable, Relevant, Timely. This helps to ensue that goals actually get achieved and move towards a wider goal in important ways.
Social Listening is the Monitoring of social media accounts to see what people are saying about your products or brand online.
Software Development Kit is a collection of software development tools to help a business better grow their brand.
Total Quality Management (TQM) is a management approach that focuses on long term success through customer feedback.
User Experience is how the end user of a product feels about using the product and how user friendly it is for the user.
Velocity Metrics is the time it takes for an organization to reach specific milestones and KPI’s.
Voice of Customer (VOC) Software is a platform that provides online reports, real-time alerts and notifications and occurrence management. The platform combines survey data with customer data from other sources such as CRM, social media and financials.
Voice of Customer (VOC) is a brand being aware and wanting their customers to have a voice. Giving customers an opinion about a brand or product gives a business leverage to learn what their key differentiator is. Listening to the voice of the customer is essential to improving customer loyalty, and increasing revenue.