Better Customer Insight Equals Better Interaction
Bart De Moor – QuestBack Belgium
Increase customer retention withEnterprise Feedback Management
About QuestBack
Strong, profitable growth since
foundation in 2000
Offices throughout Western Europe
along with USA, Canada and South
Africa
3000 customers in more than 50
countries
Enterprise Feedback Management
Enterprise Feedback Management (EFM)
What is it?
A systematic, organization-wide approach to handle customer feedback
Value for your customers: Individual needs are met. Higher level of relevance and timeliness in interactions.
Value for your company: EFM increases customer satisfaction, loyalty and advocacy
Sound complicated? It’s not…
Enterprise Feedback Management
Managing feedback the traditional way…Organizations Ask, But They Don’t Act
Typical approach: annual customer satisfaction survey:
According to Gartner, 95% of all organizations collect feedback regularly from their customers, but only 10% of those actually act upon it.
Ask Act
Enterprise Feedback Management
Moving forward
This trad. approach to feedback is a “postmortem” activity
Move your recurring customer surveys online and seize control of the process
Increase frequency (semiannually or quarterly)
Reduce complexity (short and relevant)
Capture and track key metrics (e.g. Customer Satisfaction Index)
Key value driver: ability to improve your processes
ROI timeline: mid/long term effect
Enterprise Feedback Management
Two additional factors that completes your approach
Combine your long-term postmortem tracking with:
– Event Driven Feedback
and
– Ability to Act
Enterprise Feedback Management
Ability to ActDon’t ask if you’re unable to act
“Use the data, or don’t bother surveying the customer” Gartner, May 2009
Enterprise Feedback Management
Dialogue (one-to-one/one-to-many)
Follow-up questions (one-to-one/one-to-many)
Automated responses
Automated marketing message (eNewsletter)
Automatically notify/alert team members
Ability to Act Unique act functionality
Enterprise Feedback Management
Gather feedback from customer lifecycle events (e.g. a support interaction). Automatically triggers act functionality
eNewsletter tailored to customers’ needs
Internal notification to Key Account Manager (KAM)
KAM email or call-back to customer
Positive customer experience resulting in increased customer satisfaction
Ability to Act An example
“Automated email alerts work” Gartner, May 2009
Enterprise Feedback Management
Your ability to ACT! is essential to get a high ROI
ROI from:
– Increased customer satisfaction/loyalty
– Timely: address problems immediately
– Targeted: solve individual and/or group issues
– Strategic: act on the most important issues
– Effective resource delegation
Increase revenues
– Higher customer retention / lower churn
– Referrals and recommendations
– Seize add-on sales opportunities
Enterprise Feedback Management
EFM Case StudyAmerican Institute For Foreign Study (AIFS)- a pioneer in the world of college-level study abroad programs in the 1960sand now the established leader with over $200 million in annual revenue
In an extremely difficult business environment, AIFS has succeeded in creatively using customer feedback to drive growth and profitability in the loyalty-based segment of its international education business. QuestBack has been used to drive a greater number of referrals from the population of highly satisfied past participants from AIFS’s programs.
Leads from referrals are up 30% over last year Leads from new loyalty-driven Web 2.0
activities increased by 50% Conversion rate of referral leads increased to
almost 40% Marketing costs have declined 8%
Enterprise Feedback Management
ROI“It’s difficult to put exact numbers to the ROI calculation, but it’s safe to say that it has been very high for us – and we are just getting started. The activities that have been directly enabled and facilitated by our use of QuestBack have largely driven our growth this year.”
Mike DiMauro, Sr. VP of Marketing, AIFS
Enterprise Feedback Management
Listen to your customers
Grow your revenues
Please visit: www.QuestBack.com
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