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Create stellar products by Measuring Customer Satisfaction and Social Media

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More than 90% of new software products will have subscription based pricing. The subscription based pricing works on the model that you pay for the software that you use and the customer will renew the subscription if and only if they are satisfied with the product. The key to reaping the benefits of a subscription based pricing is to keep customers happy. This session will focus on how product managers can measure customer satisfaction and efficiently process feedback on social media (Facebook, Twitter etc.). Product Managers can use this information to make key product decisions. The session will contain

- Different metrics to measure satisfaction
- Deriving metrics for measuring social media buzz
- How to implement a cost effective program for continuous satisfaction measurement
- Making social media feedback actionable beyond the buzz
- Best practices in communicating satisfaction metrics to executives to create actionable recommendations

At the end of the session, the attendee will be able to understand the right metrics to measure satisfaction and show tangible benefits to revenue via higher renewal rates.

Published in: Business
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Create stellar products by Measuring Customer Satisfaction and Social Media

  1. 1. Create Stellar Products by Measuring Customer Satisfaction and Social Media<br />Dutta Satadip<br />dutta@mba.berkeley.edu<br />
  2. 2. Dutta Satadip<br />Product Operations, Advertiser Products,Google<br />Leadership roles in Product Management, Marketing, Consulting and Engineering<br />10 + different enterprise software products with over 20+ end to end product lifecycles<br />Global business development & execution in Europe (Czech Republic, Italy, Spain, UK, Germany) & Asia ( India, Viet Nam, Israel)<br />MBA, Haas School of Business, UC Berkeley with background in Computer Science<br />Board of Directors, National Hemophilia Foundation, New York<br />Markettools, HP, SAP<br />Avid traveler, over 25 countries with aspirations to double that number<br />
  3. 3. Why<br />Measure<br />?<br />
  4. 4. saas | cloud<br />satisfaction = renewals <br />
  5. 5. sales process<br />satisfaction<br />= quality references<br />= quicker sales<br />
  6. 6. How to<br />Measure<br />?<br />
  7. 7. potential<br />existing<br />survey<br />social media<br />
  8. 8. 1<br />get customer context<br />survey<br />
  9. 9. 2<br />quantify interest<br />survey<br />
  10. 10. 3<br />capture drivers<br />survey<br />
  11. 11. don't forget<br />survey<br />no more than 10 questions<br />10 point scales <br />single page <br />
  12. 12. don't forget<br />social media<br />target the social media sources<br />continuous monitoring <br />
  13. 13. What to<br />Measure<br />?<br />
  14. 14. statistics based <br />metrics<br />survey<br />customer satisfaction models<br />
  15. 15. statistics<br />overall satisfaction <br />= Σrating score/Σ respondents <br />top/bottom % <br />= Σtop rating score/Σ respondents <br />
  16. 16. customer satisfaction models<br />net promoter score<br />key driver analysis <br />apostle model <br />
  17. 17. net promoter score<br />= %promoters - %detractors <br />promoters= % rated 10 or 9 <br />detractors = % rated 6 or below <br />
  18. 18. key driver analysis<br />
  19. 19. themes<br />sentiment<br />share of voice<br />reach<br />social media<br />
  20. 20. themes<br />
  21. 21. share of voice<br />
  22. 22. Show <br />Roi<br />
  23. 23. roi examples<br />satisfaction :: renewals<br />satisfaction :: upsell <br />
  24. 24. renewals<br />satisfaction = NPS<br />renewals = # of deals renewed<br />
  25. 25. resources<br />survey: zoomerang<br />social monitoring: socialmention, radian6 <br />satisfaction models: markettools, vovici,satmetrix<br />contact<br />www.linkedin.com/in/duttas<br />dutta@mba.berkeley.edu<br />

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