Issue 5: Dos and don’ts of benchmarking
Welcome to the 5th in our Navigator365™ Insights series. Designed to explore key concepts in omnichannel engagement and demonstrate practical uses of Navigator365™, these were sent as emails to help our active users harness the full power of the platform, but the valuable insights they offer are just as relevant to anyone involved in omnichannel strategy and engagement.
Benchmarking is the practice of comparing performance metrics to industry bests and best practices from other companies. Done properly, benchmarking is an excellent tool for helping to drive mindset change and business excellence.
DO...
- …include KPIs with a proven business impact.
- …ensure you include head-to-head comparisons with relevant …use statistically significant samples of well-profiled respondents.
- …consider the holistic experience (NPS, CES, CSAT, etc).
DON'T...
- …use metrics without any link to the business outcome.
- …limit to purely internal measurements.
- …benchmark as a one-off – the omnichannel world is in full flux and a leadership position today may be a third position a year from now.
In addition to the company- and channel-level benchmarking insights available in Navigator365™ Core, Navigator365™ Cx Benchmark allows for more in-depth benchmarking at the brand level.
Navigator365™ Insights is just part of our commitment to ensuring our users get the most out of their data. Stay tuned for more Navigator365™ Insights and empower your journey to omnichannel excellence.
Already an active Navigator365™user? Why not dive into your insights right now!
Interested in finding out more about how the Navigator365™ offering can deliver an unparalleled head start for your next customer engagement plan? Then please get in touch!
