Feedback Management – In search of lost ROI

Measuring, capturing, and monitoring feedback analysis, are steps that companies have mastered and learnt to control. But what transpires at the operational level to support these steps? How do they take advantage of the valuable information obtained from customers?

Knowing what your customers or employees think is only the beginning. Companies that will implement projects using the data gathered through Feedback Management will create the added value once they have the ability to enable operational levers. But how will they realise a tangible business impact that guarantees a higher ROI, and what are the best practices for generating this?

Many issues can be resolved through effective use of Feedback Management, but first they need to be identified. Once this is done, what do you do? Push the recommendation of your brand or your product? Avoid negative buzz online? Reduce the cost of services? Boost sales?

Let’s explore four key areas you can achieve these goals via an optimized program Feedback Management.

  • Regain customer satisfaction in real time

With an accurate and instant management of your key indicators of Customer Experience (Net Promoter Score, Customer Satisfaction, Customer Effort Score, …) and the establishment of a triggering device (e.g. automatic alerts) you will not only reconnect immediately your dissatisfied customers and know the reasons for dissatisfaction, but also identify areas for improvement and implement the associated action plans. Show your customers that you have heard and listened especially is essential, act and resolve dissatisfaction afterwards is even more!

  • Optimize the performance of your team in contact with your customers

After each interaction, use your customer’s feedback as a benchmark for measuring the performance of your front-line teams. It is important to monitor the performance of your advisors based on the analysis this (customer) feedback, identify areas for improvement and create training and individualized coaching around this. The aim is to increase the team’s skills and retain customers. A loyal customer is forearmed!

  • Customize your offers and processes to match customer needs

Secure management of continuous improvement by customising your offers, products and services. Depending on the type of interaction leverage your knowledge of the customer’s feedback and insights to tailor your offerings.

  • Engage your customers to increase feedback response

Empower your customers so they feel encouraged to engage more with your brand. Communicate to your audience how they can easily and independently get the information they seek. By providing access to fully digitized information throughout the customer journey (via an application, for example) you will reduce the volume of calls to your contact centre and the costs associated with it.

Whatever your goals, be confident that you will get a ROI on the implementation of your project Feedback Management if, and only if the associated solution brings a depth of analysis necessary for the activation of one or more of operational levers mentioned above. Further analysis, in particular through the enrichment of raw data with all other customer insights (recovered by the third party information systems like CRM) will help you conduct related action plans in their entirety with your customers in mind. Remember, if you only produce surveys without exploring these key areas, your customer ROI can suffer immensely.

Charlene RINQUIN – Marketing & Communication Manager, MediaTech Solutions

By | 2017-09-25T14:11:59+00:00 11, 2016|Feedback Management|
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