Enterprise Feedback Management


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QuestBack provides online survey services and know-how for gathering, analyzing and responding to business critical feedback.

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Enterprise Feedback Management

  1. 1. Better Customer Insight Equals Better Interaction <ul><li>Bart De Moor – QuestBack Belgium </li></ul><ul><li>Increase customer retention with </li></ul><ul><li>Enterprise Feedback Management </li></ul>
  2. 2. About QuestBack <ul><li>Strong, profitable growth since foundation in 2000 </li></ul><ul><li>Offices throughout Western Europe along with USA, Canada and South Africa </li></ul><ul><li>3000 customers in more than 50 countries </li></ul>Enterprise Feedback Management
  3. 3. <ul><li>Enterprise Feedback Management (EFM) </li></ul><ul><li>What is it? </li></ul><ul><li>A systematic, organization-wide approach to handle customer feedback </li></ul><ul><li>Value for your customers: Individual needs are met. Higher level of relevance and timeliness in interactions. </li></ul><ul><li>Value for your company: EFM increases customer satisfaction, loyalty and advocacy </li></ul><ul><li>Sound complicated? It’s not… </li></ul>Enterprise Feedback Management
  4. 4. Managing feedback the traditional way… Organizations Ask, But They Don’t Act <ul><li>Typical approach: annual customer satisfaction survey: </li></ul><ul><li>According to Gartner, 95% of all organizations collect feedback regularly from their customers, but only 10% of those actually act upon it. </li></ul>Ask Act Enterprise Feedback Management
  5. 5. Moving forward <ul><li>This trad. approach to feedback is a “postmortem” activity </li></ul><ul><li>Move your recurring customer surveys online and seize control of the process </li></ul><ul><li>Increase frequency (semiannually or quarterly) </li></ul><ul><li>Reduce complexity (short and relevant) </li></ul><ul><li>Capture and track key metrics (e.g. Customer Satisfaction Index) </li></ul><ul><li>Key value driver: ability to improve your processes </li></ul><ul><li>ROI timeline: mid/long term effect </li></ul>Enterprise Feedback Management
  6. 6. Two additional factors that completes your approach <ul><li>Combine your long-term postmortem tracking with: </li></ul><ul><ul><li>Event Driven Feedback </li></ul></ul><ul><ul><li>and </li></ul></ul><ul><ul><li>Ability to Act </li></ul></ul>Enterprise Feedback Management
  7. 7. Event Driven Feedback Enterprise Feedback Management <ul><li>Although the traditional annual approach has its merits, the result is usually too little being done, too late </li></ul><ul><li>Event driven feedback means moving beyond the annual “single-snapshot” approach, and into capturing customer insight from key events taking place throughout your organization every day </li></ul><ul><li>Key value driver: immediate and continuous ability to engage customer </li></ul><ul><li>ROI timeline: instant improvement </li></ul>
  8. 8. Ability to Act Don’t ask if you’re unable to act “ Use the data, or don’t bother surveying the customer” Gartner, May 2009 Enterprise Feedback Management
  9. 9. <ul><li>Dialogue (one-to-one/one-to-many) </li></ul><ul><li>Follow-up questions (one-to-one/one-to-many) </li></ul><ul><li>Automated responses </li></ul><ul><li>Automated marketing message (eNewsletter) </li></ul><ul><li>Automatically notify/alert team members </li></ul>Ability to Act Unique act functionality Enterprise Feedback Management
  10. 10. <ul><li>Gather feedback from customer lifecycle events (e.g. a support interaction). Automatically triggers act functionality </li></ul><ul><li>eNewsletter tailored to customers’ needs </li></ul><ul><li>Internal notification to Key Account Manager (KAM) </li></ul><ul><li>KAM email or call-back to customer </li></ul><ul><li>Positive customer experience resulting in increased customer satisfaction </li></ul>Ability to Act An example “ Automated email alerts work” Gartner, May 2009 Enterprise Feedback Management
  11. 11. Your ability to ACT! is essential to get a high ROI <ul><li>ROI from: </li></ul><ul><ul><li>Increased customer satisfaction/loyalty </li></ul></ul><ul><ul><li>Timely: address problems immediately </li></ul></ul><ul><ul><li>Targeted: solve individual and/or group issues </li></ul></ul><ul><ul><li>Strategic: act on the most important issues </li></ul></ul><ul><ul><li>Effective resource delegation </li></ul></ul><ul><ul><li>Increase revenues </li></ul></ul><ul><ul><li>Higher customer retention / lower churn </li></ul></ul><ul><ul><li>Referrals and recommendations </li></ul></ul><ul><ul><li>Seize add-on sales opportunities </li></ul></ul>Enterprise Feedback Management
  12. 12. EFM Return on Investment <ul><li>EFM enables better customer insight and improved customer interactions </li></ul><ul><li>Combining trad. long-term tracking with event driven feedback and the ability to act, makes your organization “a real-time enterprise” in the eyes of your customer </li></ul><ul><li>The outcome is organizational learning and an improved ability to deliver positive customer experiences across your enterprise, resulting in increased customer satisfaction, loyalty and advocacy </li></ul>Enterprise Feedback Management
  13. 13. EFM Case Study American Institute For Foreign Study (AIFS) - a pioneer in the world of college-level study abroad programs in the 1960s and now the established leader with over $200 million in annual revenue <ul><li>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. </li></ul><ul><ul><ul><li>Leads from referrals are up 30% over last year </li></ul></ul></ul><ul><ul><ul><li>Leads from new loyalty-driven Web 2.0 activities increased by 50% </li></ul></ul></ul><ul><ul><ul><li>Conversion rate of referral leads increased to almost 40% </li></ul></ul></ul><ul><ul><ul><li>Marketing costs have declined 8% </li></ul></ul></ul>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
  14. 14. Enterprise Feedback Management <ul><li>Listen to your customers </li></ul><ul><li>Grow your revenues </li></ul><ul><li>Please visit: www.QuestBack.com </li></ul>