Far too often we see that organisations have a heavy, sometimes over-reliance on metric-based surveys. In a way it’s understandable; partly it’s about feeding the target-driven performance culture and partly it’s to have as much information as we can at our fingertips because that, in theory, makes strategic decision-making more robust.
So it was intriguing to read the latest headline about the rising confidence levels of UK businesses. The UK Business Confidence Monitor index “stands at +16.7, up from +12.8 in Q1 2013, suggesting GDP will grow by 0.6% in Q2 2013”.
I wish to take nothing away from its credibility, accuracy and the expertise of those who know much more about economics than I, but it means, er, what exactly? Well, delve a bit deeper and the trend is confidently portrayed as being a proxy for future economic growth, of higher levels of borrowing and investment. I’m no Smith, Keynes or Friedman but on the face of it that sounds like good news despite the fact that we may also conclude that the appetite to take on more debt is weak and fragile customer demand is still a problem.
Armed with just that though, if I was to present to the Board of UK plc, I’d fully expect them to say “And just what is it that you want us to do next?”.
It’s often the same when it comes to finding out what it’s really like to be a customer or client. In the Business Confidence Monitor, the question that respondents are answering is “Overall, how would you describe your confidence in the economic prospects facing your business over the next 12 months, compared to the previous 12 months?”. In consumer and employee surveys the equivalent questions might be “How likely are you to recommend us?”, “How do you rate our service” and “How satisfied are you?”.
All good questions in their own right, and also trying to predict future behaviour. But while metrics will show a trend, on their own they don’t show why the trend is what it is, and therefore what it is likely to be in the coming weeks, months and years. What’s more, depending on sample sizes and other mechanics of the survey, the reliability of the numbers comes with its own confidence factor of plus or minus x%.
Absent clear comments as to why respondents gave the reasons they did, there is a vacuum of context. That means, as with so many metric-based surveys, that translating the information into knowledge upon which valuable decisions can be made still remains elusive.
I’ve always said that if organisations get the experience right first, the metrics will look after themselves. Base analyses and decisions on the numbers alone and without any context, trends will simply continue to happen whether they’re known to be the right ones or not.
In that, I have every confidence.
Thank you for your interest and for your time reading this blog. I’m Jerry Angrave and I provide Customer Experience research and advisory services, most recently to the aviation, transport and legal services sectors. If you’ve any comments or questions, do let me know, either through the blog, by email to [email protected] or feel free to call me on +44 (0) 7917 718 072. There’s also more information at www.empathyce.com.