{"id":32323,"date":"2021-03-24T00:00:00","date_gmt":"2021-03-24T00:00:00","guid":{"rendered":"https:\/\/hyken.com\/the-most-important-measurement-in-business\/"},"modified":"2024-03-04T18:58:50","modified_gmt":"2024-03-04T18:58:50","slug":"the-most-important-measurement-in-business","status":"publish","type":"post","link":"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/","title":{"rendered":"The Most Important Measurement In Business"},"content":{"rendered":"<a href=\"https:\/\/hyken.com\/customer-experience-2\/how-to-care-more-about-the-customer-than-the-sale\/\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft\" title=\"The Most Important Measurement In Business\" src=\"https:\/\/hyken.com\/wp-content\/uploads\/3-24-21-Measuring-Customer-Loyalty.jpg&quot;\" alt=\"The Most Important Measurement In Business\" width=\"339\" height=\"407\" \/><\/a>This is the first of a number of lessons I\u2019ll be sharing from my newest book, <a href=\"https:\/\/hyken.com\/book\/ill-be-back\/\" target=\"_blank\" rel=\"noopener\"><em>I\u2019ll Be Back: How to Get Customers to Come Back Again and Again<\/em><\/a>. A few years back I wrote about the idea of measuring customer satisfaction versus customer behavior. We\u2019re revisiting that topic with a fresh point of view.<!--more-->\r\n\r\nToday\u2019s lesson is about the exciting topic of measurement and data. Okay, maybe not that exciting, but how about very important? You know it is! Business management guru Peter Drucker said, \u201cYou can\u2019t manage what you don\u2019t measure.\u201d\r\n\r\nSo, what is the most important measurement in business? What\u2019s the best metric? Why do our customers come back? There are a number of ways organizations measure customer satisfaction. By the way, I don\u2019t like that word, satisfaction. The word satisfactory implies everything is okay, average, or fine. If you asked someone to rate you as either poor, satisfactory, or excellent, you can see that satisfactory is in the middle. Again, just average. But, back to the point. Call it customer satisfaction, customer happiness, or anything you want. The important idea to remember is that we\u2019re looking at ratings.\r\n\r\nAs an example, two very popular measurements are NPS (Net Promoter Score) and CSAT (Customer Satisfaction). Both give you an idea of how happy the customer is. But, you need to know more. When you ask marketing and customer service experts what they monitor, you\u2019ll likely hear about similar satisfaction or happiness measurements. You\u2019ll also hear them talk about sales numbers, profit, revenue, and other indications that the company is doing well \u2013 or not so well.\r\n\r\nBut another measurement I suggest companies pay close attention to, in addition to those just mentioned, is this one: <a href=\"https:\/\/www.youtube.com\/watch?v=A_RsGEN2ckk&amp;t=2s\" target=\"_blank\" rel=\"noopener\"><em>Does the customer come back?<\/em><\/a>\r\n\r\nThat\u2019s not a rating. That\u2019s behavior! Big difference. Your customers can rate you five out of five stars and give you glowing reviews. But what if they don\u2019t come back? The ratings and reviews were nice, but the opportunity to do more business vanishes if they don\u2019t return.\r\n\r\nIt\u2019s important to know how customers feel about the experience they just had. We should always be looking at those experiences and finding ways to make them better. Feedback and ratings will help drive that effort. But in the end, knowing what percentage of customers come back, how often they come back, and how much they buy when they do come back, is a metric to pay close attention to.\r\n\r\nIf getting your customers to come back, again and again, is important to you, and you know it is, you\u2019ll love the book. Just go to <a href=\"https:\/\/hyken.com\/book\/ill-be-back\/\" target=\"_blank\" rel=\"noopener\">www.IllBeBackBook.com<\/a>.\r\n\r\n<a href=\"https:\/\/youtu.be\/-FY_HvDSJVk\">https:\/\/youtu.be\/-FY_HvDSJVk<\/a>\r\n\r\n<em><a href=\"https:\/\/hyken.com\/\" target=\"_blank\" rel=\"noopener\">Shep Hyken<\/a>\u00a0is a customer service\/CX expert, award-winning keynote speaker, and New York Times bestselling author. Learn more about Shep\u2019s\u00a0<a href=\"https:\/\/hyken.com\/speaking\/\" target=\"_blank\" rel=\"noopener\">customer service and customer experience keynote speeches<\/a>\u00a0and his\u00a0<a href=\"https:\/\/hyken.com\/training\/\" target=\"_blank\" rel=\"noopener\">customer service training workshops<\/a>\u00a0at\u00a0<a href=\"https:\/\/www.hyken.com\/\" target=\"_blank\" rel=\"noopener\">www.Hyken.com<\/a>. Connect with Shep on\u00a0<a href=\"https:\/\/www.linkedin.com\/in\/shephyken\/\" target=\"_blank\" rel=\"noopener\">LinkedIn<\/a>.<\/em>\r\n\r\n(Copyright \u00a9 MMXXI, Shep Hyken)\r\n\r\n&nbsp;\r\n\r\n<a href=\"https:\/\/www.wixanswers.com\/?utm_source=shep_hyken&amp;utm_medium=influencer&amp;utm_campaign=influencer_campaign_2021\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/hyken.com\/wp-content\/uploads\/Newsletter-Header_Wix-SponsorNEW.jpg\" alt=\"\" width=\"612\" height=\"72\" \/><\/a>","protected":false},"excerpt":{"rendered":"<p>This is the first of a number of lessons I\u2019ll be sharing from my newest book, I\u2019ll Be Back: How to Get Customers to Come Back Again and Again. A few years back I wrote about the idea of measuring customer satisfaction versus customer behavior. We\u2019re revisiting that topic with a fresh point of view.<\/p>\n","protected":false},"author":3,"featured_media":53620,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6791,6807],"tags":[4843,5907,6259,6291],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.5 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The Most Important Measurement In Business - Shep Hyken | Customer Service Expert<\/title>\n<meta name=\"description\" content=\"The first of a number of lessons from my newest book, I\u2019ll Be Back is about the most important measurement in business.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Most Important Measurement In Business - Shep Hyken | Customer Service Expert\" \/>\n<meta property=\"og:description\" content=\"The first of a number of lessons from my newest book, I\u2019ll Be Back is about the most important measurement in business.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/\" \/>\n<meta property=\"og:site_name\" content=\"Shep Hyken | Customer Service Expert\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ShepHykenSpeaker\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/ShepHykenSpeaker\/\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-24T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-03-04T18:58:50+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/hyken.com\/wp-content\/uploads\/2021\/03\/3-24-21-Measuring-Customer-Loyalty.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"360\" \/>\n\t<meta property=\"og:image:height\" content=\"432\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"shephyken\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"shephyken\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/\"},\"author\":{\"name\":\"shephyken\",\"@id\":\"https:\/\/hyken.com\/#\/schema\/person\/b92dbe4f9f734f7c0d600fc8014b7fe2\"},\"headline\":\"The Most Important Measurement In Business\",\"datePublished\":\"2021-03-24T00:00:00+00:00\",\"dateModified\":\"2024-03-04T18:58:50+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/\"},\"wordCount\":516,\"publisher\":{\"@id\":\"https:\/\/hyken.com\/#\/schema\/person\/b92dbe4f9f734f7c0d600fc8014b7fe2\"},\"image\":{\"@id\":\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/hyken.com\/wp-content\/uploads\/2021\/03\/3-24-21-Measuring-Customer-Loyalty.jpg\",\"keywords\":[\"amazing customer experience\",\"build customer loyalty\",\"WIX\",\"return customers\"],\"articleSection\":[\"Customer Experience\",\"App\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/\",\"url\":\"https:\/\/hyken.com\/customer-experience\/the-most-important-measurement-in-business\/\",\"name\":\"The Most Important Measurement In Business - 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