Learning Objectives:

  • Identify key CX metrics and KPIs.

  • Understand customer feedback and service quality measurement.

  • Explain strategies for continuous improvement.

8.1 Key CX Metrics and KPIs

The HKSI course covers how customer service and satisfaction are measured . The Bursa Uludağ University programme covers marketing KPIs and performance measurement . Key metrics include:

  • Net Promoter Score (NPS): Measures customer loyalty and advocacy .

  • Customer Satisfaction Score (CSAT): Measures satisfaction with a specific interaction .

  • Customer Effort Score (CES): Measures how easy the experience was for the customer.

  • First Contact Resolution (FCR): Percentage of issues resolved on first contact.

  • Retention Rate: Percentage of customers retained over a period.

  • Churn Rate: Percentage of customers who leave.

8.2 Customer Feedback and Service Quality Measurement

The HKQF competency standards require conducting research on customer experience periodically including branch, phone banking, ATM, internet, mobile and other digital channels . Key feedback channels include:

  • Surveys: Post-transaction surveys, NPS surveys, and annual satisfaction surveys.

  • Complaints: Analysing complaint data to identify systemic issues.

  • Social Media: Monitoring social media for customer sentiment and feedback.

  • App Store Reviews: Analysing customer reviews for insights.

8.3 Continuous Improvement

The HKQF competency standards require updating reports and reviews periodically for continued relevance and accuracy . Key steps include:

  • Regular Analysis: Regularly analysing CX data to identify trends and issues .

  • Root Cause Analysis: Identifying underlying causes of customer dissatisfaction .

  • Process Improvement: Implementing changes to address identified issues .

  • Iterative Testing: Continuously testing and refining CX improvements.

  • Feedback Integration: Using customer feedback to inform product and service development .

8.4 Business Impact

As the LSIB programme notes, mastering digital banking CX frameworks can increase Net Promoter Score by up to 15%, reduce average resolution time by 30%, boost cross-sell conversion rates, and deliver significant revenue growth

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