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Measuring Value in Voice of the Customer

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Your customers may have a lot to say about your organization, their experience with your products and services, and their relationship with you. Are you listening? Learn the basics of Voice of the Customer metrics, which surveys are right for your business needs, and how to boost customer loyalty.

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Measuring Value in Voice of the Customer

  1. 1. MeasuringValue inVoice of the Customer Today’s host Nichole Lemieux Senior Digital Experience Manager Customer Experience, Connected Digital Interactions Cisco
  2. 2. © 2018 Cisco and/or its affiliates. All rights reserved. Customer success methodology People Process Platforms Content Analytics
  3. 3. © 2018 Cisco and/or its affiliates. All rights reserved.© 2018 Cisco and/or its affiliates. All rights reserved. Cisco SuccessHub On demand webinars, videos, infographics, blogs, whitepapers and much more! Visit SuccessHub
  4. 4. MeasuringValue inVoice of the Customer Today’s presenter Phil Nanus VP Research, Customer Success,TSIA phil.nanus@tsia.com @philnanus
  5. 5. © 2018 Cisco and/or its affiliates. All rights reserved. Common survey types Results of quick poll on Voice of Customer surveys Importance of closed loop process
  6. 6. © 2018 Cisco and/or its affiliates. All rights reserved.© 2018 Cisco and/or its affiliates. All rights reserved. Net promoter score “What is the likelihood that you would recommend Company X to a friend or colleague?” 200 point scale calculated by taking the percentage of promoters and subtracting the percentage detractors. Promoters 0 1 2 3 4 5 6 Detractors Passives 7 8 9 10 Net promoter score % Promoters % Detractors
  7. 7. © 2018 Cisco and/or its affiliates. All rights reserved.© 2018 Cisco and/or its affiliates. All rights reserved. Customer effort score “To what extent do you agree with the following statement? The company made it easy to handle my issue (customer service, customer support).” Either 5 or 7 choices ranging from strongly disagree to strongly agree The company made it easy to handle my issue (customer service, customer support) Strongly agree Agree Somewhat agree Neutral Somewhat disagree Disagree Strongly disagree
  8. 8. © 2018 Cisco and/or its affiliates. All rights reserved.© 2018 Cisco and/or its affiliates. All rights reserved. “How would you rate your experience with ABC Company’s technical support today?” The sum of respondents that answered satisfied or very satisfied Customer satisfaction Very satisfied Satisfied Neutral Unsatisfied Very unsatisfied How would you rate your experience with ABC Company’s technical support today?
  9. 9. © 2018 Cisco and/or its affiliates. All rights reserved. Quick poll results on Voice of Customer survey
  10. 10. © 2018 Cisco and/or its affiliates. All rights reserved. Netflix More ratings logged!Changed its rating system 200%
  11. 11. © 2018 Cisco and/or its affiliates. All rights reserved. Who has responsibility at your company for surveys? A. Customer success B. Marketing C. Services or support D. Do not survey E. Other Ask the audience
  12. 12. © 2018 Cisco and/or its affiliates. All rights reserved. Who has primary responsibility for survey programs? 0% 10% 20% 30% 40% 50% 60% 70% Services, support and customer success Marketing Other The common practice is for services, support, and/or customer success to survey customers Source: TSIA Customer Success Quick Poll – Voice of the Customer
  13. 13. © 2018 Cisco and/or its affiliates. All rights reserved. Primary method for capturing relationship surveys Using net promoter scores (NPS) is the primary method for capturing relationship surveys 0% 10% 20% 30% 40% 50% 60% Net Promoter Score (NPS) Customer satisfaction (CSAT) Other Do not survey Source: TSIA Customer Success Quick Poll – Voice of the Customer
  14. 14. © 2018 Cisco and/or its affiliates. All rights reserved. What is the frequency of your relationship surveys? 0% 5% 10% 15% 20% 25% 30% Annually Twice a year Quarterly Other There is no common practice for frequency of surveys Source: TSIA Customer Success Quick Poll – Voice of the Customer
  15. 15. © 2018 Cisco and/or its affiliates. All rights reserved. Primary method for capturing transactional surveys NPS and CSAT are the two most common transactional survey types companies use. 0% 10% 20% 30% 40% Net promoter score (NPS) Customer satisfaction (CSAT) Thumbs up/thumbs down Do not survey Other Source: TSIA Customer Success Quick Poll – Voice of the Customer
  16. 16. © 2018 Cisco and/or its affiliates. All rights reserved. Are you planning on changing your survey programs in the next 12 months? A. Yes B. No Ask the audience
  17. 17. © 2018 Cisco and/or its affiliates. All rights reserved. Have you changed your survey program in the last 12 months? Most organizations have not changed their method of surveying in the last 12 months 82% 18% No Yes Source: TSIA Customer Success Quick Poll – Voice of the Customer
  18. 18. © 2018 Cisco and/or its affiliates. All rights reserved. If you changed, have you seen an increase in response rates? For those that did make a change, most have not seen an increase in response rates 82% 20% Stayed the same Increased Source: TSIA Customer Success Quick Poll – Voice of the Customer
  19. 19. © 2018 Cisco and/or its affiliates. All rights reserved. Technology companies are sticking with what they know Observations No major shift into simplified ‘thumbs’ rating system No major changes to rating systems, and if so, no increase in response
  20. 20. © 2018 Cisco and/or its affiliates. All rights reserved. Positive • Candidates for customer advisory boards and journey map exercises Negatives • Internal teams (support, product) feedback • Coaching and learning Timely response Follow up with action plans Closed loop process External follow up Internal follow up
  21. 21. The difference in net promoter score for accounts covered by a customer success manager Source: TSIA Customer Success Benchmark data 8
  22. 22. The difference in percentage points of dollar retention rate when a portion of executive compensation is tied to customer satisfaction metrics (NPS, CSAT, CES) Source: TSIA Customer Success Benchmark data 6
  23. 23. © 2018 Cisco and/or its affiliates. All rights reserved. TSIA recommendations Closed loop internal and external process Integrate survey information into customer health scores Evaluate response rate on transactional and relationships surveys
  24. 24. @CiscoPartners Let us know what you think! customersuccesstalk@external.cisco.com © 2018 Cisco and/or affiliates. All rights reserved. Cisco public.
  25. 25. © 2018 Cisco and/or its affiliates. All rights reserved.© 2017 Cisco and/or its affiliates. All rights reserved. Upcoming sessions How to Create Customers for Life September 11, 2018 Learn how Cisco enables you to support your customers, serve them better, and engage them for life. Solving for CX: Using Data to Personalize Experiences September 25, 2018 Discover how you can gain deeper insights into customer preferences, and how data can help you personalize engaging experiences that resonate with your customers. Sign up for a webinar© 2018 Cisco and/or affiliates. All rights reserved. Cisco public.

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