Do you know your customer’s perception of your Brand?

A CX audit and benchmarking exercise is critical for brands to understand their customers’ interactions, perceptions, sentiments, and also the brand’s responses to its customers. This exercise helps identify the gaps and make improvements across customer touchpoints to enhance the Brand Experience. It also helps the brand to measure its CX index against regulatory compliance, industry standards, market position, and competitors.

Stream has developed a Touchpoint Maturity Evaluation (TME) index, which helps evaluate the brand’s current level of CX maturity across its touchpoints. After evaluating the current level, Stream then helps its clients with their CX evolution plan with a definitive roadmap for execution. It also helps them benchmark themselves with their competitors and the market. This audit helps identify the gaps and then build on them to achieve the next level of CX maturity.

The audit covers both offline and online channels. It aims to identify best practices and areas where a brand can significantly improve its Customer Experience. It aggregates CX data across touchpoints like call centers, CX surveys, social media, and other channels and then analyses the brand’s perceived response value and marks the TME index for that period of study.

The Benchmarking study helps in positioning itself with other competitor brands and also the industry benchmarks and also providing a reference point for setting up CX goals and measuring progress in building its CX positioning.

These Audit and Benchmarking activities help individual functions as well as the brand as a whole. Stream collaborates with its clients to provide an integrated 'audit-benchmark-plan-execute' process to leverage its Advisory and implementational CX Operations experience.

Stream audits and benchmarks the majority of the customer service touchpoints for its clients across various industries. The TME index benchmark can be seen varying based on the industry maturity, the consumer focus, and the size of the clients themselves. Although the TME index is primarily for B2C companies, it can be applied to B2B companies, where there are multiple relationship transactions or where there is a collaboration between brands (like co-branding) in the public space.

Stream conducts this exercise for all its clients at the beginning of the Contact Center implementation projects and also offers it as a standalone service. It also conducts this at the end of the project to showcase the improving maturity of the client. For the standalone services, it also provides an execution guideline for the journey to the next step of maturity.