The use of Customer Feedback: The Feedback Management ROI approach

Interview with Thierry Aubert, COO of MediaTech Solutions, Publisher of Instant eXperience, the Feedback Management solution.

Capturing Customer Feedback is not sufficient to create value, your solution needs to go further in its initial approach to truly catch the essence of the customer’s perception in real time. When your solution can achieve this you effectively improve the Customer experience and increase ROI through customer engagement!

Customer Feedback Management

To what extent are Feedback Management programs geared towards generating return on investment?

Before each launch of a Feedback Management program, a potential ROI analysis is performed against strategic business objectives. What’s at stake is branding, sales growth or optimization of service cost, and the program contributes to the achievement of these objectives. The methodology developed by MediaTech provides a solution that is easily integrated in the the organisation’s IT structure and their devices across touchpoints. This integration creates a Feedback Management program that uses these objectives to determine which operational levers will be activated and ultimately measures its achievement.

Specifically, how can a Feedback Management program Generate ROI?

The generation of an ROI in a Feedback Management program is based on customer returns during the operation, what we refer to as “leverage” at MediaTech. For this it is necessary to activate one or more operational levers. A Pilot that identifies areas for structural continuous improvement is one of the levers. By this we mean the improvements that address the offers, services, processes that lead to the achievement of strategic objectives mentioned above. The second lever is the improved operational performance of teams through local management. Through the operation of these customer returns, we see teams that operate with a “customer centricity” approach tend to increase performance much more than those that don’t. The third and final lever focuses on transforming the experience of a customer. The goal is to transform the developers in solving customer dissatisfaction in real time or turn a missed sale initially in better addressing customer needs or share their opinions to develop and fine tune sales and brand awareness.

You mention operational initiatives, but what other roles/departments can play a part in the feedback management tool?

At the scale of a large organization, to enable operational levers we have just described requires that a large number of people are able to utilise the benefits of real-time feedback within the operational structure. For the General Directorate employees or service providers in contact with the customer, needs and entitlements are very varied. Everyone should have access to dashboards, custom reports and analysis – refreshed in real time, with the functionality to also automatically trigger alerts or actions to take corrective actions. For many of our clients, Instant eXperience, became the technological foundation on which they have built their entire Feedback Management approach.

Any closing points you’d like to add?

Yes – A structured Feedback Management approach linked with a target ROI may seem obvious, but it will benefit an organisation to continuously assess the ROI generated and put in place action plans to maximize the program and leverage customer engagement.

By | 2017-06-01T10:14:37+00:00 11, 2016|Feedback Management|
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