Are you a CX expert? Test your knowledge of the commonly used buzzwords in Customer Experience (CX)!
Customer Experience used to just be fancy buzzwords but it has taken the world by storm. We are living in the age of customer focus and let’s face it, without a great customer experience you’re nothing.
We have listed below the most commonly used CX buzzwords and abbreviations, which often are used in Customer Experience. Hopefully, there are some new words you could add to your vocabulary.
Actionable insights: information that can be acted upon in order to improve customer experience.
Attrition Rate: the percentage of customers lost in a given period of time. If you have a retention rate of 80%, your attrition rate is 20%.
Case Management: the process of responding to a customer concern or complaint and resolving the case by achieving an outcome that is satisfactory to the customer.
Churn: when a customer/subscriber stops doing business with a company.
Customer Acquisition: refers to a company gaining new consumers.
Customer-Centric: when a company put its customers in focus of their operations, ideas and philosophy.
Customer Experience (CX): explains how customers feel about their total experience and interactions with a company.
Customer Journey: a visual representation of the journey a customer has with a company’s brand, products, services and people.
Customer Journey Mapping: the process of creating a customer journey is called customer journey mapping.
Customer Lifecycle: a process customer goes through: from considering, purchasing and using to maintaining loyalty to a product or service. Compared to a customer journey, a customer lifecycle is a process driven by a company, not a unique journey of an individual customer.
Customer Persona: written and/or graphical representation of the different customer segments a business is targeting.
Customer Loyalty: the result of consistently positive experiences, satisfaction and perceived value of a product or service, that make them want to come back to the supplier and purchase more.
Customer Relationship Management (CRM): is a software that helps companies manage the relationship with their customers.
Customer Retention: a measurement of how a business retains customers over a specific period of time.
Customer Satisfaction (CSAT): based on many different types of customer surveys that are usually sent to customers shortly after an interaction with a company is complete.
Touchpoint: any interaction a company have with their customers.
Customer Retention: a measurement of how a business retains customers over a specific period of time.
Data Management Platform (DMP): is a centralised database to gather, integrate and handle a large amount of structured and unstructured data from different sources. An example: cookies.
Machine Learning: is based on neural networks that are built for training and learning. The networks rely on specific factors to determine the outcome and are programmed by humans prior.
Marketing Automation – a function that allows you to automatize and customise digital marketing communication based on previous statistics and customer data.
Net promoter score (NPS): Consists of the survey question “How likely is it that you would recommend [your brand] to a friend or colleague?” using a 0-10 scale.
Omni-channel: in CX it relates to having a presence at every channel your customers can engage with you as a company.
Personalisation: providing a customer experience which is tailored to the individual’s consumer preferences and specific needs.
Real-Time Marketing: a marketing approach where advertising “on-the-fly” is based on a current event. The purpose is to get the customer engaged.
User Experience: a way to map and develop solutions with user interactions, with for example a website.
Voice of the Customer (VoC): a term referring to the feedback your customers are giving to a company.
Web Experience Management: a process of handling the entire experience of web users across different touchpoints in their journey through the company’s web presence.
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