Calculating ROI on Customer Feedback Programs: It’s a Two Way Street

Matt Morris, Matt Morris

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Calculating ROI on Customer Feedback Programs: It’s a Two Way Street
By: Marc E. Carlson, RRP
CustomerCount© Business Relationship Manager

I often hear this question: “What kind of ROI can we see from using your enterprise customer engagement solution?” My answer is, it depends. It depends on whether or not key stakeholders will actually view the customer data and act on it. You can collect all the data you want on specific customer populations, but if you don’t put that data into a plan of action there will be disappointment coming from the top of your organization.

In some cases, individuals work hard to sell the idea of implementing a customer feedback program within their department or business unit up the ladder to executive management. That’s half the battle. Once the investment is approved, the real work begins. I can’t throw out a ROI number because I don’t know if the company will truly use the information we provide them on a timely basis. We even send reports instantaneously to decision makers by email so they do not have to log in to our customer site or ask a direct report. But do they look at it?

A customer feedback program is just like any other tool. It’s a two way street. You get out of it what you put into it. Spend the time to review current data coming from your customer feedback vendor. If you do not receive reports via email on a periodic basis, maybe you should inquire about having that routine established. It will make your life much easier in identifying opportunities and possible shortfalls.


Taking IVR Surveys is so Exhausting

Matt Morris, Matt Morris

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Taking IVR Surveys is so Exhausting
By: Marc E. Carlson, RRP
CustomerCount© Business Relationship Manager

I just got an oil change for my sedan at a franchised oil lube place. There was a toll-free phone number on the receipt to provide them feedback. Since I work in the voice of customer (VOC) world, I have a propensity to take most surveys positioned with me because I realize my feedback is useful to the servicing company to understand what I expect. I must admit, I was a little reluctant to place the call because I knew the survey would be conducted by an Interactive Voice Response (IVR) system. These types of surveys always exhaust me with providing a description for your scaled answer selection each and every time they ask a question. Often, I end up on the line for the first five questions and then disconnect. Who has the time to listen to the answer description for every single question? I sure don’t, and I suspect there are many others like me that get frustrated with the time commitment in providing our feedback on an IVR system.

In these busy times, I believe the best customer feedback solution from a response rate is that of an on-line solution. These types of surveys allow a consumer to provide feedback on their own time and the completion rate is much higher than surveys taken thru an IVR system. An on-line customer feedback solution will also give you better data to analyze and can capture the all important verbatim comments from the consumer. At “CustomerCount©”:http://www.customercount.com, we are firm believers in making the experience of providing customer feedback to a client easy, available when the consumer wants to provide the feedback, and builds brand affinity so the consumer purchases again, and again, and again…


Houston….We May Have a Problem

Matt Morris, Matt Morris

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Houston….We May Have a Problem
By: Marc E. Carlson, RRP
CustomerCount© Business Relationship Manager

Why do companies go thru all the due diligence in selecting a vendor to power their customer engagement program when there are so few employees who look at the data? Houston….we may have a problem. It isn’t like it is difficult to obtain the data from customer feedback. Most survey providers allow access to data via the web or by simply setting up a routine whereby a particular report is emailed directly into one’s corporate email account. That is the easy part. The hard part is actually dissecting the information to identify areas for improvement or a business opportunity.

Maybe it is a lack of human capital to analyze the data and make recommendations. Lord knows we have multiple responsibilities within our individual positions. I submit the lack of reviewing data comes down to time management and the importance placed on that customer feedback.

We should really build a routine within our work day to glance at customer feedback to evaluate if the current process in position is efficiently working. Additionally, all business units within an organization should designate a point person responsible for analyzing and disseminating information to those employees on the front lines. If these two tasks are incorporated into one’s workflow, the likelihood for increased revenues organization wide improves greatly.


Don’t be Afraid of Customer Feedback

Matt Morris, Matt Morris

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Don’t be Afraid of Customer Feedback
By: Marc E. Carlson, RRP
CustomerCount© Business Relationship Manager

Customer feedback can be a double edged sword. On the one hand, a company can gain great information regarding what they are doing right in the eyes of its consumers. On the other hand, customer feedback can highlight problematic areas in an organization.

I think the majority of organizations that do not have a formal customer feedback program in place may be afraid of the results. Why, I have no idea. I imagine it is difficult for certain C-level executives to see first-hand results from a consumer that gives them poor scores on particular key performance indicators like: was the customer service representative knowledgeable of the organization’s products and services, were problems addressed readily or did the purchased product or service meet the consumers’ expectations?

Organizations without ongoing customer feedback are truly missing an opportunity to understand their strengths and weaknesses. On top of that, how else can you measure how your organization is doing compared to the annual goals executives spend so much time on from Q3 – Q4? Having a customer feedback program will not only keep you on track to reach goals, and create actionable data, it will also increase revenues by offering you the opportunity to take valuable action AND interact with your most important asset, your customer.

At the end of the day, we are all in business to make money for our organizations.

What do you think?