Measuring the customer experience in 2019 – it’s about conversations, as well as metrics

| January 7, 2019 | By

Just as a brand’s offering improves over time, so does the expectations of its customers, says Yoyo’s VP of customer experience, Heidi Herre. “Alongside key measurement targets, we need ongoing conversations with those who matter most to evaluate whether we’re really delivering a great customer experience…”

Measuring the customer experience in 2019 - it's about conversations, as well as metrics

Just before the holidays I found myself in a debate with friends about needing to do last minute Christmas shopping at a certain well-known department store in central London.

Surprise surprise, all of our experiences varied – some of us loved the whole Christmas atmosphere, while others would rather have travelled to the other side of the moon.

Did we all end up buying at least one thing at the department store?
Check
Would this assume that volition was in place to visit the department store?
Check
Was our rationale the same for visiting the department store?
Hell no!

Now I’m not for a moment suggesting that in the fine world of fintech, customers go through the same thrill seeking “life/death decisioning” that is Christmas shopping – experience is in the ‘feelings of the perceiver’ afterall.

But just like buying the perfect present, the world of payment, loyalty and marketing offers a huge array of options available to customers. Some are directly comparable like-for-like products, while others set themselves massively apart.

Yoyo is obviously in the latter camp, but how can we measure whether our customers experience Yoyo positively and, crucially, continue to do so as they use us more and more.


YOYO FACTBOX

Volumes:
Over 600,000 active users choose to pay and/or collect loyalty with their Yoyo powered app every month

Stickiness:
Yoyo’s 28-day retention rate is an awesome 84%

Frequency:
More than half of Yoyo users make five or more purchases a month

Referrals:
Over a third of all referrals complete a first purchase

Recommendations:
Yoyo holds a Net Promoter Score rating of 56 – in the world of NPS and loyalty this is in the esteemed realm of ‘excellent

Customer satisfaction:
Our support teams are consistently rated an average of 80-90% for the speedy and helpful service we provide


Are these the stats that show beautiful customer experience certainty? Of course not.

1. There are customer experience factors that we control

We create an innovative and industry leading product, and invest in incredible intelligent staff, who only want to provide an inspirational and stellar service.

2. Then there are those factors that we can only influence

There will always be the internal private conflicts of our varied customers and the ambitious external world of hungry Yoyo heel-snappers.

We know we should never get too comfy – just as our offering improves through iterations and overhauls, so do the relative expectations of our customer base.

All of us expect those we’re in a business relationship with to continually improve / gain / advance our lives, no matter how long we’ve interacted with them.

To achieve this, brands require super clear metrics (obviously), but critically we also need to increase the importance of ‘checking in’ so that all that we promise to deliver will continue to match changing customer perceptions.

What is essential to these customers today may not hold the same relevance tomorrow – actual conversations will help ensure that we continue to hit the mark.

We at Yoyo are soaring to new heights in 2019, and that’s because we place a huge level of importance on unearthing and validating what’s really of value to our customers all year round. After all, Yoyo isn’t just for Christmas 🐶.

Heidi Herre is VP of customer experience at Yoyo