Enterprise Feedback Management: The Best Practices of Customer Loyalty Leaders
Vovici | August 12, 2010

With today’s economic pressures it is more critical than ever to deepen existing customer relationships – it’s much more cost effective to keep your current customers than it is to gain new ones.

The recent global downturn has put a dramatic new focus on measuring the customer experience. In 2009, 63% of survey respondents in the Vovici/CGA Customer Experience IQ (CEIQ) study of over 200 companies around the globe said that customer experience management (CEM) was important to their business, up from 47% in 2008.

Many organizations recognize the importance of engaging customers, employees and partners but find it difficult to establish sustained interactions across multiple channels. Market research departments manage projects to gather input for specific initiatives. Marketing departments analyze the metrics of the web site and other marketing campaigns. IT departments coordinate customer relationship management (CRM) systems, tracking attributes and customer purchases but not customer attitudes. Surprisingly, few organizations today are treating the actual customer feedback itself as the asset.

Customer feedback management is a foreign concept to many organizations. The majority of businesses don’t treat customer feedback itself as an asset. A formal customer feedback program is much more than just surveys. In this whitepaper we will discuss how enterprise feedback management (EFM) helps organizations leverage feedback to increase loyalty, facilitate innovation, and influence critical business decisions. EFM provides a mechanism to centrally manage the deployment of customer, employee and partner feedback programs. An integrated approach includes survey systems, panel management and online community solutions that enable you to listen, interpret, act and monitor feedback. These are the building blocks, the tools you will need to successfully build a truly comprehensive feedback program.

 

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