Get a Free CX Maturity Health Check Assessment

How mature is your customer experience strategy? Find out with a free, personalized CX Health Check.

The boostCX Blog

Knowledge and resources to help you build and scale your business.

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
KPIs
November 11, 2024

What Is an Internal Quality Score (IQS)?

Businesses focused on customer experience utilize a variety of Key Performance Indicators (KPIs) like customer satisfaction (CSAT) and Net Promoter Score (NPS) to monitor success. However, another metric that deserves your attention is Internal Quality Score (IQS) and many businesses want to know — what is an Internal Quality Score?

This metric is an internal evaluation of the quality of customer service interactions, providing valuable insight into employee performance and areas for improvement. When you understand and optimize your IQS, you can enhance customer satisfaction, boost employee morale, and drive business growth. boostCX is a customer experience management partner that can help you implement and track IQS — providing the tools and insights you need to elevate your customer service operations.

Why Is Internal Quality Score Important?

IQS is a vital metric for businesses because it provides an objective assessment of customer service quality from an internal perspective. It helps identify areas where your employees excel and areas where they may need to improve, enabling targeted coaching and training programs. By monitoring this KPI, businesses can ensure consistent customer service at multiple touchpoints in the customer journey, enhance customer satisfaction, and identify top-performing employees.

How To Calculate Your Internal Quality Score

Calculating your Internal Quality Score (IQS) involves a comprehensive evaluation of various aspects of your customer service interactions. This goes beyond simple measurements and whether an issue was resolved or not — it dives deeper into the quality of the interaction itself. 

Here is a better look at the various aspects of customer service interactions you need to evaluate for your IQS: 

  • Product Knowledge
  • Communication Skills
  • Problem-Solving Abilities
  • Compliance with Procedures
  • Customer Satisfaction

Each aspect is assigned a score based on your evaluation, and the overall IQS is calculated by averaging the scores across all evaluated areas.

IQS = (Sum of All Ratings) / (Maximum Available Score x Number of Ratings)

How To Improve Your Internal Quality Score

Improving your Internal Quality Score (IQS) isn't a one-size-fits-all solution — it requires a comprehensive approach that addresses multiple aspects of your customer service operations. This includes investing in employee training and development to enhance their skills and knowledge, optimizing processes to ensure efficiency and consistency, and implementing feedback mechanisms to identify areas for improvement. 

Here are a few key strategies:

  • Provide regular training and coaching for employees to enhance skills and knowledge.
  • Create clear and concise customer service procedures and guidelines.
  • Implement monitoring systems to evaluate employee performance and identify areas for improvement.
  • Use customer feedback to identify areas where service quality can be upgraded.
  • Recognize and reward top-performing employees to improve morale and encourage excellence.

READ MORE: What Are the Most Important KPIs in Retail?

What is an Internal Quality Score, and why does it matter? It's a key metric that provides direct insights into the quality of your customer service, helping you identify areas for improvement and enhance the customer experience. By focusing on this metric, you can empower your employees, boost customer satisfaction, and promote growth.

Contact boostCX today to learn how our solutions can help you implement and track IQS for your business!

Employee Experience
November 8, 2024

How To Balance Customer Experience and Employee Experience

In the modern business world, it is more important than ever to prioritize BOTH the customer experience (CX) and the employee experience (EX) in order to succeed. They are, in effect, different sides to the same coin and linked to your business success. With this in mind, it is important to know how to balance customer experience and employee experience to deliver better customer service at every touchpoint.

Metrics show that a positive employee experience translates directly to an improved customer experience. The statistics show that businesses with an engaged workforce are 21% more profitable and 17% more productive than those who disregard the employee experience. By focusing on creating a positive and supportive environment for your employees, you empower them to deliver exceptional service that builds customer loyalty and drives business growth. boostCX can help you achieve this balance, providing the tools and insights you need to optimize both customer experience and employee experience.

Top 5 Tips to Balance Customer Experience and Employee Experience

Creating a harmony between customer experience and employee experience is essential for building a thriving business — but it requires a comprehensive approach that considers the needs of both your employees and your customers. It's not a zero-sum game. Prioritizing one doesn't mean neglecting the other. Instead — it's about recognizing how the two elements are connected and finding the sweet spot where both can thrive. When employees feel valued, supported, and engaged, they're more likely to deliver exceptional service that fosters customer loyalty and drives business growth.

Here are five key tips to help you achieve this balance:

1. Empower Your Employees

Give your employees the autonomy and resources they need to excel in their roles. This includes providing them with the necessary training, tools, and decision-making authority to effectively address customer needs and resolve issues quickly. Empowered employees are more engaged, motivated, and likely to deliver exceptional customer service.

2. Set Clear Expectations and Communication Guidelines

Establish clear expectations for employee behavior and communication, both within the company and how they interact with customers — which includes establishing how to deal with angry customers and when to walk away. This ensures consistent customer service at every touchpoint and creates a positive and professional environment for everyone. Provide regular communication and updates to keep employees informed and engaged.

3. Create a Feedback Loop

Establish a system for gathering feedback from both customers and employees. This allows you to identify areas for improvement, address concerns, and ensure that both CX and EX are aligned with your overall goals. Analyze this feedback and data, and take action to address key issues and enhance customer and employee satisfaction.

4. Determine Key Performance Metrics

Identify and track key performance indicators (KPIs) that reflect both customer and employee satisfaction. This could include metrics like customer satisfaction scores (CSAT), Net Promoter Score (NPS), employee engagement surveys, and turnover rates. By monitoring these metrics, you can measure the effectiveness of your initiatives and make data-driven changes to your operations.

5. Ensure Employees Understand Your Customer Base

Help your employees develop a deeper understanding of your customer base, including their needs, preferences, and pain points. This enables them to personalize interactions, anticipate customer needs, and deliver exceptional service that drives loyalty and satisfaction.

READ MORE: How Does AI Impact the Employee Experience?

By understanding how to balance customer experience and employee experience, you create a win-win situation that benefits your business as a whole. Happy and engaged employees are more likely to deliver exceptional customer service, leading to increased customer satisfaction and loyalty.

Contact boostCX today to learn how our solutions can help you achieve this balance!

KPIs
Healthcare
November 6, 2024

What Are the Most Important Customer Experience KPIs in Healthcare?

In the healthcare industry, where patient satisfaction and quality of care are critical to success — measuring and tracking key performance indicators (KPIs) related to the customer experience at every step of the patient journey is an effective strategy. Healthcare providers that hope to improve want to know — what are the most important customer experience KPIs in healthcare?

These metrics provide valuable insights into patient perceptions, identify areas for improvement, and help healthcare providers deliver exceptional care that builds loyalty and trust. boostCX as a customer experience management partner gives healthcare providers the tools to collect and analyze critical feedback and data, enabling them to make data-driven decisions that enhance the patient experience and optimize operations.

Top 5 Customer Experience KPIs in Healthcare

The list of performance metrics that can be applied to healthcare and healthcare providers is impressive. While numerous KPIs can be tracked to help you improve performance, certain metrics are more important for healthcare providers to track.

Here are five of the most important KPIs to monitor:

1. Customer Satisfaction Score (CSAT)

Customer Satisfaction Score (CSAT) measures patient satisfaction with specific aspects of their healthcare experience, such as interactions with staff, the quality of care received, and the overall experience. High CSAT scores indicate positive patient experiences and can lead to increased patient retention and loyalty.

CSAT = (Number of Positive Patient Responses / Total Number of Patient Responses) x 100

2. Net Promoter Score (NPS)

Net Promoter Score (NPS) gauges patient loyalty and their likelihood of recommending a healthcare provider to others. A high NPS illustrates strong patient relationships and positive word-of-mouth referrals, which can attract new patients and enhance the provider's reputation.

NPS = % Promoters - % Detractors

3. Customer Effort Score (CES)

Customer Effort Score (CES) measures how simple it is for patients to interact with a healthcare provider — such as scheduling appointments, accessing medical records, or resolving billing inquiries. A low CES indicates a seamless and effortless experience, contributing to patient satisfaction and reducing frustration.

CES = (Sum of all Effort Scores) / (Total Number of Responses)

4. First Call Resolution (FCR)

First Call Resolution (FCR) measures the percentage of patient inquiries or issues resolved during the first contact with a healthcare provider. High FCR rates demonstrate efficiency and effectiveness in addressing patient needs, minimizing repeat calls and improving patient satisfaction.

FCR = (Number of Cases Resolved on First Contact / Total Number of Cases) x 100

5. Cost Per Patient

Cost Per Patient is a financial metric that tracks the average cost of providing care to each patient. By monitoring this KPI, healthcare providers can identify areas where they can optimize resource allocation, reduce costs, and improve operational efficiency without compromising the quality of care.

Cost Per Patient = Total Healthcare Costs / Total Number of Patients

READ MORE: How To Improve the Patient Experience in Healthcare

You may ask  — what are the most important customer experience KPIs in healthcare? By tracking and analyzing these key performance indicators, healthcare providers can gain a better, more complete understanding of the patient experience and make data-driven decisions that enhance satisfaction, improve outcomes, and optimize operations. Contact boostCX today to learn how our solutions can help you monitor, measure, and improve your healthcare KPIs!

Customer Experience
November 4, 2024

What Do You Need to Know About Customer Loyalty?

Customer loyalty is more valuable than ever in a competitive landscape. Just attracting customers is no longer enough — businesses need to grow lasting relationships that drive repeat business and foster brand loyalty. But what exactly is customer loyalty, and how can you build it? What do you need to know about customer loyalty?

boostCX is a customer experience management partner that employs innovative solutions to help you unlock the secrets of customer loyalty and create a thriving business with a dedicated customer base. We provide the tools and insights you need to build strong customer relationships across many industries, from retail and hospitality to finance and healthcare.

What Is Customer Loyalty?

Customer loyalty is about more than just repeat purchases and business — it's an emotional connection that customers have with your brand. Loyal customers are not only repeat buyers but enthusiastic advocates who are likely to recommend your products or services to friends and family. They choose your brand over competitors, even when faced with similar products and services or lower prices. Building customer loyalty requires consistently positive experiences, personalized interactions, and a commitment to meeting customer needs.

Why Is Customer Loyalty Important?

Customer loyalty is a key driver of business success. Loyal customers are more profitable than one-time customers, as they spend more over time and make repeat purchases. They also contribute to your marketing with positive word-of-mouth that attracts new customers and improves your brand's reputation. In addition — loyal customers are more lenient of occasional missteps and are more likely to provide valuable feedback that can help you improve your products and services.

Key Statistics About Customer Loyalty

Brand loyalty leads to business success — and the statistics tell the whole story. Growing a loyal customer base leads to increased profitability, reduced marketing costs, and enhanced brand reputation.

  • Just a 5% increase in customer retention and loyalty can increase profits by an estimated 25%-95%.
  • Repeat customers have an estimated 60%-70% chance to convert sales.
  • More than 86% of customers will pay more for a better customer experience.
  • It costs 5x-25x more to acquire a new customer than to retain a current customer.
  • Existing customers are 50% more likely to try new products and spend 31% more than new customers.
  • An estimated 65% of a company's business comes from pre-existing customers.
  • Loyal customers are 4x more likely to refer your brand to others.

READ MORE: Top 25 Stats that Show the Value of Customer Experience

Customer loyalty is a powerful metric that can deliver sustainable business growth and success. By understanding the factors that contribute to loyalty and implementing strategies to enhance the customer experience, you can build a loyal following that champions your brand. Contact boostCX today to learn how our solutions can help you unlock the full potential of customer loyalty!

CX Maturity Assessment

Understand Your CX Maturity Level

How mature is your customer experience strategy? Find out with a FREE, personalized CX Health Check.

The boostCX Health Check can help you understand where you're at, and where you need to be. Complete the assessment to:

Evaluate your current customer experience operations

Get personalized, tactical advice on areas of improvement

Receive a CX Maturity Model score

Scale your CX operations for success