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Unblu: Product Solutions Resources Partners Company Request a demo Back to Blog CPIs in digital banking: evaluate your organization’s performance through the customer’s eyes

by Javier Puga, VP Marketing at Unblu

Customer-centricity has become a buzzword in the last few years. But its meaning is somewhat ambiguous. What does it really mean to put the customer first?

For one thing, it means changing how you evaluate your company’s success. Rather than company-centric metrics such as revenue earned or savings made, you measure those outcomes that are important to your customer.

True customer-centricity means prioritizing the customer’s needs and delivering a positive experience at every stage of the journey. This requires a digital strategy that’s optimized for the end-user—one that increases opportunities for meaningful and productive conversations and relationship-building between client and advisor. It also means a seamless and omnichannel experience that strikes the perfect balance between convenience and connection.

More and more companies are adopting and measuring Customer Performance Indicators (CPIs) as metrics of success. After all, customers are the ultimate determining factor when it comes to assessing company growth.

CPIs are those metrics valued more by the customer than by the company. They are those things that customers say matters most and are measured in increments that are relevant and make sense to the customer, such as time or money saved or the number of different options available.

CPIs actually go hand in hand with KPIs. The better your CPIs, the better your KPIs. For example, if you’re measuring problem resolution time as a CPI, this is likely to impact both your customer retention and lifetime value KPIs.

Read the full article here.

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