CX Economics in 5 Steps

Determine your desired business outcome. Make sure it’s measured consistently, at the right frequency, and with a trusted methodology that helps you rally the business around the metric.

Quantify the relationships between your target outcome and related variables. Look at correlational strengths and leading/lagging relationships for variables in experience data (CSAT/NPS, Effort) and operational data (delivery times, quality metrics, return volume). Then, build control limits to identify the difference between normal variance and a variance worth pursuing.

Train your product and research teams to measure and communicate in terms of these impact variables and relationships, which will help them advocate for their insights and secure more green lights for experience investment.

Structure investment decisions as experiments with goals and tradeoffs for all to see. Standardized product or experimental briefs help teams speak in clear language and build a history of what works and what doesn’t.

Check your homework by comparing your expected experiment outcomes to the actual outcomes, and use those results to learn and improve over time.