What is a customer-centric KPI?
It is a KPI that monitors how well you deliver value to your customers.
You need customer-centric KPIs to see if customers are satisfied with your products and services.
Revenue is important to a business. But you won’t be able to grow revenue when your products and services don’t meet customer expectations.
For instance, a high shopping cart abandonment rate for an online retailer indicates many customers exit the checkout process before completion. By examining why customers abandon their shopping carts, you can make corrections accordingly.
The shopping cart abandonment rate is a customer-centric KPI as it monitors customer behaviors. When you focus on what matters to the customer, you tailor your decisions and actions around customer needs, which have direct impacts on the business.